Strategy is, in essence, nothing more (or less) than a process which involves emoting, thinking, and deciding how to collectively realise a co-created vision. In other words, strategy may be equationally distilled to (ExTxD)^V, i.e., strategy is Emoting x Thinking x Deciding to the power of Vision.
But, like most things essential, it's simple but not easy, in part because a compelling vision is premised on having clarity of why*. Organisations operating absent an honest, and clearly articulated "why", often find themselves with one of the following types of corporate strategy:
Me-Too strategy, i.e., let's just repeat what works, be it from others or ourselves;
Who’s-Me strategy, i.e., let's keep our options open, just in case; or
Wanna-Be strategy, i.e., pipe dreams disguised as visions.
These types of corporate strategy can definitely grow a company, but invariably at some point, organisations with these types of strategy are likely to find their existence threatened by organisations deploying a Me-Only strategy.
A Me-Only corporate strategy is one that is so distinctive**that competition becomes irrelevant. Organisations with Me-Only corporate strategies are likely not looking sideways to see who’s a “neck” ahead. Instead, they are looking back to ensure that the gap is widening.
A great Me-Only corporate strategy is also simple, i.e., it can be described in one paragraph, and clearly articulates:
Where you have chosen to play
How you are planning to win
The capabilities needed
Of course the devil's in the nuances, but for the moment, suffice it to say that a corporate strategy is a calculated bet and not an exercise in prediction, and the intended outcome of corporate strategy is for the company to earn more than the cost of capital.
Strategising Me-Only corporate strategies unfolds at the nexus of intuition and logic where the artistry of the poet meets the pragmatism of the engineer; the profundity of imagination dances with the discipline of planning; and the expansiveness of play contours the expression of purpose.
Learn more about my strategy process facilitation approach here. Alternatively, connect with me to find out how I can help you and your organisation create a Me-Only strategy that not only is premised on a clear "why" and languaged into a clear vision, but also translated into actionable OKRs.