The importance of dynamic strategy
How often do you review and check in with your strategy – monthly, quarterly? You do review it regularly and make doing so a priority? Don’t you?
If your business strategy is hidden away and used more as an end of year scorecard, rather than a living, breathing roadmap to guide success, then this potentially powerful part of your business is not working hard enough for you and business will suffer as a result.
The beating heart
Your strategy should be at the heart and soul of your business, something that everyone connects with, understands and uses to guide their performance and contributions towards your objectives. It can only do this if it is relevant, accurate and up to date with what is happening in your business’ world, be they internal or external factors.
Keep it live and evolving
A strategy that is potentially outdated and that is disconnected from the micro (customers, suppliers, employees etc.) and macro (economics, technology, society etc.) elements that impact your business, is about as much good as yesterday’s newspaper. Sure you know what has happened, but you’re really not up to speed with what is going on and what it means for you.
So, if you want to optimise your business’ success:
- Make reviews and ‘stop and checks’ part of your strategic process – don’t simply set-and-forget your strategic approach
- Commit time and resource to understand the micro and macro elements that have an effect or are affected by your strategy and factor them in accordingly
- Be accountable, don’t hide from the failures or shortcomings. Address them head on and learn from them.
If you want to talk about your strategy, or how you can make it work harder and more powerfully for you, contact us: email@example.com and we’ll happily give you some more pointers.