Strategy OverviewOutside Contributor
What is strategy in business and does the landscape professional need to be concerned about having a written strategy?
Business strategy may sound like a subject that belongs with the concerns of bigger organizations who need to set a broader strategic course for their organization. But even a small business with just a few employees would benefit from developing and refining a business strategy.
Ask five different people to define strategy and you might get five completely different answers. If you consider the chess game as an analogy for discussing strategy, consider the most important goal of the game – to checkmate the king in the end game. In business, the primary goal is to consistently create a company with an industry leading valuation. Once you achieve industry leading valuations, your future business options will be wide open.
Achieving this valuation is the goal, but not the strategy. The strategy is coordinating and concentrating different resources of the business to achieve the goal. Your business may have several different goals, but are all of those goals actually working together like the chess pieces on the board to achieve the primary goal of consistently strong profits?
You may have several different strategies at work within your business to create the greatest amount of economic value for your organization. You may have strategies in your operations, technology and sales processes, and each of these areas require further work and investigation. As the General on the business landscape, you need to command your business strategies to achieve the greatest value for your business, otherwise what you may be doing is taking value out of your business.
- The big lie of strategic planning – from the Harvard Business Review