Strategy Demystified

The term strategy is widely used and applied to many processes and situations in which are not strategy. The concept of strategy is misused in many circumstances and not truly understood. Most people look like a deer in the headlights when “Strategy” is mentioned. The following is a quick and concise guide to understanding “Strategy”. The thought leader behind the following is Richard P. Rumelt and his book is “Good Strategy – Bad Strategy” and I highly recommended it.

“A good strategy honestly acknowledges the challenges being faced and provides an approach to overcoming them….Strategy selects the path, identifying how, why, and where leadership and determination are to be applied” – Richard P. Rumelt

There are three (3) elements of strategy:

  1. Diagnosing the challenge
  2. Guiding the policy
  3. Taking reasoned action
  • First you have to “define the challenge” in order to create a strategy.
  • The strategy has to be practical and has to address the critical issues instead of ignoring them.

Goals are not strategies – This is a common mistake so make sure you understand the difference.

Strategy defines the framework for taking action to meet goals” –Keith Lawrence Miller

Defining a strong strategy

  1. A strong strategy stands a strong chance of accomplishing its mission.
  2. A strong strategy builds strength through its design.
  3. A strong strategy applies strengths to the most promising opportunity.
  4. A strong strategy allows for mission pivots or timely adjustments to deal with new conflicting information.
  5. When creating a strategy, you always need to consider the competition.

Questions to Create a Strong Strategy

  1. What are the competitions strengths and weaknesses?
  2. What are our strengths and weaknesses?
  3. Where are the leverage points?
  4. Where are the opportunities?
  5. What are the risks involved?
  6. How can we put pressure on the competition to take away their focus from their strengths?
  7. What is the hidden power of the situation that neither side has identified?

“Leadership needs more than charisma and vision – Leadership needs a solid strategy” – Richard P. Rumelt and Keith Lawrence Miller (combined)

 

Keith Lawrence Miller, M.A., PCC, BCC, CPRW

Elite Pro Coach | Ivy League Resumes

ICF Certified & Credentialed Coach (PCC) | Board Certified Coach (BCC)

M.A. Columbia University | Organizational Psychologist

(855) My-Pro-Coach | Skype (718) 717-2820

http://EliteProCoach.com | www.LinkedIn.com/in/keithlawmiller

Leadership coaching is dedicated to enhancing leadership skills and abilities by enhancing the leader within and creating self-awareness. Targeting and understanding the underlying processes that dictate predictable behaviors creates a necessary awareness in alignment with reality that enables superior leadership. All leadership is not equal, but rather, fluid, flexible, and adaptive to the situation and environment. Implementing the correct developmental process proactively separates the good from the great. Our leadership coaching processes develops great leaders. However, facing perceived fears, accepting critical feedback, and managing emotional highs & lows in alignment with universal laws is required for maximizing personal and professional growth.

Everyone is capable of being a leader and that leadership begins with leading the self. The material offered goes above and beyond generic leadership content found on other leadership sites such as mission, vision, and tactics of leadership. Rather, we expand on these processes and include the real human aspect and psychological foundation of creating valued connections that by association inspire followers to exceed performance expectations. Additionally, these writings are geared to elicit behaviors that make leaders more follower-friendly, and attempt by diffusion, to refine the skills needed to lead successfully.

Keith Miller

Keith Lawrence Miller, Organizational Psychologist, Board Certified Coach (BCC), Professional Credentialed Coach (PCC), with subject matter expertise in executive career & leadership coaching and management consulting supported by a Master of Arts (M.A.) in Organizational Psychology from Columbia University.


You might also like

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *