As every business organisation runs through different hurdles and swings, it’s important to remember and redefine your strategy. What is strategy? “Strategy” has been studied by many experts, business leaders and business theorists for years. Yet, there is no definitive answer about what strategy is. One reason for this is that everyone thinks about strategy in different ways. For instance, some believe you must analyse the present carefully, anticipate changes in your market or industry and, from the results, plan how you’ll succeed. Meanwhile, others think the future is too difficult to predict, and they prefer to evolve their strategies organically over time. Michael Porter, a strategy expert and professor at Harvard Business School, emphasises the need for a strategy to define and communicate an organisation’s unique position and says that it should determine how organisational resources, skills, and competencies should be combined to create a competitive advantage in the market. While there will always be some evolved element of strategy, planning for success in the marketplace is essential. This means organisations must take full advantage of the opportunities open to them and anticipate and prepare for the future at all levels. As strategies grow organically in your organisation, you will define your mission, vision, values and goals. This will also let the organisation bloom in a space where culture is created. Culture is ultimately one of the results of all the strategic parts. And Culture, as we know, eats strategy for breakfast. Ultimately, map every strategy with culture in mind.
31 July 2023
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