Strategy Doesn’t Start With a Strategic Plan
Ask a business owner about their strategy and many will say they don’t really have one. That doesn’t mean they lack ambition or intent. Every day they make decisions designed to improve the business. The more important question is: where are those decisions taking it? Strategy is often associated with formal plans, workshops, mission statements […]
Better Decisions Don’t Require Certainty
Uncertainty is simply a fact of making decisions about the future. It isn’t inherently good or bad. What matters is whether we understand it. Every strategy is built on assumptions about what we expect to happen. How quickly revenue will grow.What margins can be achieved.What resources will be required.How customers and competitors will respond. A […]
Businesses Rarely Fail Because They Lack a Strategy
Most strategies are developed with clear objectives, genuine opportunities, and the best of intentions. Yet some succeed while others fail. The common explanation is poor execution. Poor execution is frequently the consequence of not fully understanding a strategy’s financial implications. That distinction is important. Every strategic decision commits resources. It commits capital, people, management time […]