A recent blog entry on strategy on the morph from The Conversation over at the Harvard Business Review had three great tips on how to get your strategy right in these turbulent times that need to be highlighted.
- Distribute the right to make strategy throughout your organization
Strategy needs to be a collective effort — not an edict handed down from on high — and people need to be empowered to make the right decisions.
- One process does not fit all decisions
Some processes need to be long and drawn out because the decision will affect everyone at all levels of the organization … others, that involve decisions that will only affect a single department, can be made more quickly. The key is knowing what process to use when, and distributing that knowledge throughout the organization.
- Resources — money and talent — needs to move as fast as decision making
A strategy needs to be executed. Otherwise, it’s just another pointless decision.