“Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.” Michael Porter
Many leaders want to keep their options open. Because they want to avoid accountability. Keeping one’s options open is not prudent leadership, it is an indication of a lack of confidence in the decision-making processes. Keeping your options open means more resource commitment, trial and error, and limited focus.
It is not easy to win when you do so many things at the same time. However, do not confuse choice with identifying a specific sector or business and going a mile deep into the business or industry.
Figure 1: Challenges, options, and possibilities flow
To document an organic strategy, start by defining the current strategic problem or challenge.
Remember, any institution or entity or individual needs a strategy when two things are present: either there is an opportunity that needs to be tapped into and exploited OR there is a strategic problem or challenge that needs solving – amid resource constraints. Brilliant leaders can use scarce resources more efficiently and effectively than others to achieve more.
If there was no death to humanity, there would be no need for medical care, a balanced diet, and good living. If everything a person needs to live a good life were available for free in abundance, there would be no need to plan for personal career success.
- What are your top 10 strategic challenges? (Hint: get a piece of paper and list all – at personal, or family level in case of a family or personal strategy) and at the business level, in case of a business strategy. What are the cause and effects of each challenge?
- What are the opportunities available that the challenges are failing you to tap into?
- What options do you have to win?
- What are your best possibilities?
To be continued…