Strategy as a practice
The word strategy normally puts fear into most managers as we seem to think it is delving into the unknown. Strategy is the future and at first, the future is uncertain. So what is the meaning of strategy?
Changing the way we think about the future
Max McKeown, author of The Strategy Book argues, “Strategy is about shaping the future” to achieve “desirable ends with available means”.
Strategy relates to a plan of action for the aim of achieving a desired goal that has long term long-term relevance, resilience, viability and sustainability. (Ryan, 2014)
Types of business strategy include….
For one, being strategic is changing the way we think about and act on the future.
If, as managers we are taking holistic views of the problems we are facing and utilising multi-perspectives in our research and solution sourcing, we are thinking about the future and how to achieve our goals.
This allows for a more streamlined and informed approach: Once the goals are defined, the resources are identified and organised according to the execution of the action plan.
Quite simply, the action plan is:
- The first level of management (operations) manage the present
- The second level of management manage the future that the…
- ..Top level of management have shaped
To have strategy as a practice we must continually challenge where we are as a company versus where we are going and how we are going to get there. The strategic process is achieving goals “under conditions of uncertainty”.
It is through visualising and planning a desired future that exceeds the resources available that strategic thinking is truly born.