Strategy (from Greek στρατηγία stratēgia) is a general plan to achieve one or more long-term goals under conditions of uncertainty.
This is the detailed initiative usually undertaken by the senior leaders of the organisation, which takes into account the available resources, and considers the effects of the external and internal environment on their decisions.
While planning a strategy it is essential to consider that decisions are not taken in a vacuum and that any action taken is likely to be met by a reaction from those affected.
The objective of a strategy is to maximize an organisation’s strengths and to minimize the strengths of the competitors. Strategy, in short, bridges the gap between “where we are” and “where we want to be”.
From the perspective of organisational transformation, it is worth considering whether the existing strategy requires an update. It is also worth considering whether the overall number of strategic initiatives provide the intended focus for the organisation.
- A clear strategy brings focus into the organisation.
- A well planned and realistic strategy puts the right level of resources at the right place to ensure the desired impact.
- Often organisations implement too many strategic initiatives concurrently, causing a major overload, which ultimately results in lack of focus.
- While leaders may be experts at defining strategies, often they are less successful at transmitting it well into their organisation, or engaging their teams to actively contribute to the few key things that would move the organisation forward.
Good to Great: Why Some Companies Make the Leap and Others Don’t, Collins Jim, 2001, ISBN 978-0066620992