Do you have a strategy?
Ive just read the Playing to win by A.G. Lafley - the ex CEO of Proctor & Gamble & Roger L. Martin - Dean, Rotman School of Management.
Its been an interesting read and actually its based on a simple principle that Strategy is about making choices, which on the surface sounds pretty simple, but when you sit down to really think about it is actually pretty hard. Not only is it about the choices you want to make but also the ones you don’t and to decide not to do something is pretty hard, it’s hard because it forces people and organisations to make specific choices about their future—something that doesn’t happen in most companies. The book goes on to map out a set of five essential strategic questions that, when addressed in an integrated way, will move you forward. Which are: • What is our winning aspiration? • Where will we play? • How will we win? • What capabilities must we have in place to win? • What management systems are required to support our choices?
I have been sitting down and working though the answeres to these questions for myself which has been a bot of a struggle as I keep getting distracted. But my experience has been that whenever I have written things down they usually have a funny habit of happening so I will persevere with completing this exercise and even if it is filed away and doesnt see the light of day its worth doing and lets see what happens.