Op-Ed: The role of strategy in your business vision
All of us entrepreneurs and business leaders have something in common: we have a clear vision of where we want to take our companies, markets, brands or teams. What is great about this vision is that it’s as unique as there are personalities in the world.
In a highly competitive market, the place we want to take our business or the way we want to transform our industry is crucial for almost every possible and existing product or service. That said, what is vision without strategy? Something like what hope is without action.
The role of strategy in your business vision is to make it possible. I usually say, it doesn’t matter where you are going, you will need a strategy to get there.
What is the best way to describe strategy? Let’s take what we see on TV as examples: What do you think Alexandra and Robert do in “Law and Order” to solve a crime? Or what athletes do in preparation for the Olympics? And what Kim Kardashian does to own every story on E!? Strategy is everywhere.
A business strategy is a coordinated and orchestrated, wisely chosen set of tasks that performed in the proper order and time help you achieve your business goals.
As a standard procedure, most businesses have a strategic planning session every year, when business leaders meet to asses what is happening in their industries, how they can provide clients with a unique selling proposition, and how to lead their industries with the goal of increasing their market share.
Once this clear panorama is set, the leadership teams have the responsibility to design the roadmap that will make all this viable, palpable and profitable. This is a lot of responsibility for a small team, deciding and providing the tools to achieve business growth.
Strategy is ‘extremely’ important
The strategic planning process of a business is of extreme importance and should not be taken lightly. That plan coupled with each department’s goal and strategy will give people in the lower levels of the organization — marketing, human resources, it, accounting, product development, communications, production, sales, purchasing and logistics — the guide to make daily, goal-centric decisions in the business.
But, how can I achieve this in my business? you might think. Many leaders and entrepreneurs have some of the qualities of a strategist, but it is not a general rule. This doesn’t mean that they have it all figured out. Good leaders look out for consultants, coaches or specialists that guide them in their principal responsibility — provide results for their businesses.
When complicated visions and plans arise, it is recommended to look for a professional. A person whose principal role is to foresee how things are going to be achieved will give your business a whole deal of experience that may ultimately save you money and assure your success.
At the end of the day, it is the what and the how (strategy) of the vision than will assure the company can provide their unique selling proposition to clients, and will take the business to the level of driving real innovation.