Strategic planning, strategic thinking, growth strategy, business strategy, strategy implementation…. We throw these terms around a lot, and we spend a lot of time thinking about them. But are we getting a good ROI?
Russell Raath asks a good question in his latest Forbes blog post: Does everything need a strategy? And what does that even mean? He says the problem is that most people just don’t really understand what strategy is. He goes as far as to say that we are all guilty of overusing the phrase “strategic�? to dress up normal activities like planning.
To be more effective, he suggests we be more strategic about using the term strategic and also have a shared understanding within the organization about what it actually means.
That sounds logical. We will take that challenge, Mr. Raath, and raise you. We think we should completely rethink conventional growth strategy. For one, strategy shouldn’t be done by executives in annual strategic planning retreats, but instead should be ongoing, collaborative, and driven by customer conversation.
How do you think our view of “strategy�? needs to change?