Does your business have more than one strategy?

A strategy is often, wrongly, defined as if it is nothing more than a plan, or worse, a technique.

In fact, it is the thing that determines how a business will create value over the long term. It is also what unites all of the different individuals within a business to be pulling in the same direction (as in Drucker’s ‘Management by Objectives’ – coined in 1954 and still hugely relevant today). Staff recruited into an organisation need to be well informed on what the business is about, what its objectives are, how and why they are relevant to the individuals.

Once this is acknowledged, it is easy to see the fallacy and the danger of confusing strategy with the management of any short term campaign.

This is not even to touch on the fact that without good strategy, the whole of the execution might be a waste of time and money.

So, your business is likely to be involved in lots of different activities. It may run several campaigns and these may change frequently. But it has only one strategy. If you think your business has lots of strategies, then what you really mean is ‘techniques’.

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