Strategy - it's not just for corporates
Many SMEs run for the hills when they hear the word "strategy". It's small wonder considering the fact that it is derived from the Greek word "strategos " (στρατηγός) which means a military general, so implies that it is something for high-ranking officials.
This was true in the past, when strategic plans were indeed reserved for the big guys because they were expensive, long-term, and created by external experts.
It is no longer the case, or at the very least it shouldn't be.
In fact, this old way of expensive, long-term, outsourced stratgic plans is so flawed that 2 out of 3 fail!
To be effective, a strategic plan needs to be affordable, short-medium termed, and created by the organisation's own (leadership) team. It must also have an integral execution mechanism to ensure it is delivered, and be agile enough to remain relevant.
Running a business is like going on a roadtrip. When you do that you need to know where you are going, what road to take, what vehicle to use, what resources to have, risks to mitigate, and actually get going.
A proper strategic plan makes it possible. Every organisation, regardless of size or industry should have one.
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