To get the Spotlight on Strategy series underway, I thought it might be a good idea to take a look at a few terms. Gives us chance to warm-up a little and get in the strategy zone.
Strategy: is a flexible, dynamic process enabling us to decide on a set of strategic choices which help us achieve our vision of the future; whatever that time frame may be. It is an essential element of business and careers that helps organisations and individuals:
- evolve, adapt and become sustainably successful
- save time and costs by making better use of resources
- appreciate emerging possibilities
- become aware of potential threats
- embrace uncertainty and change
A strategy or a strategic plan: an explanation of our future vision, the strategic choices we have made and how we are going to achieve that future vision.
Strategic thinking: our ability to look to the future and think creatively about the potential development of ourselves, an organisation or a situation.
Creating a future vision and strategy for ourselves and organisations is similar. It’s about looking beyond the day-to-day noise and activity and making decisions about where we would like to be at a future point in time and the routes we’re going to take to get there.
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