What is Strategy?
Strategy informs Strategic Communication.
Strategic Communications = what you say is just as important as how you say it.
*Communicating with purpose while showcasing value in order to achieve a goal that is mutually beneficial.
Before you get started with your strategy or understanding what it actually is, first asks yourself where do you fit in your market?
Internationally
In your industry
On an organisational scale
On a Managerial level
Strategy can seem like an elusive term. In business, a strategy is put in place as a means to achieve the desired goal.
The Big Three processes in Strategy:
Strategic Thinking - The Strategist
This is someone who understands the endgame and the series of benchmarks needed to reach the goal.
Strategic Formation - The Existing Resources
This is the actual strategy based on existing resources, context and the ability to reach goals.
Strategic Change - The Business at Large
This is how the reality of the strategy fits into the business, including feedback and evaluation as a key component to adjustments needing to be made.
#HotTip: There will always be goals that can’t be met and that’s okay.
Once you have a grasp of these three processes - who, what and where/why you can start to break down your strategy.
To look at it holistically have these three points in mind:
Intended Strategy -
You start a strategy by identifying what your mission is and what agendas you need to set in order to achieve the mission.
HOTTAKEAWAY: Who are you and what do you want?
Deliberate Strategy -
Phase 1)
Once you have decided your intended strategy you can start diagnosing. This means you need to do an external and internal assessment of what you actually need to do and where you fit in your industry.
HOTTAKEAWAY: Your business will have to account for things once the strategy is in motion. Include a wishlist of your ideal desired outcomes.
Phase 2)
After you have diagnosed your strategy with what it is you will actually need to do, start conceiving the plan. This means creating options and generating selections from those options.
HOTTAKEAWAY: If options don’t relate to the mission then what are you doing?
Realised Strategy -
After you have created a realistic strategy that can be actioned you can begin taking action and utilizing performance control. This means putting your strategy into place by using deliberate tactics that align with your mission.
HOTTAKEAWAY: Always ask yourself ‘am I doing a good job meeting my mission?’
The Strategy Concept
5 P’s for Strategy via California Management Review 30 (1) Fall; 11-24
BEFORE YOU GO!
7 #HotTips to support your Strategy:
You can easily support your strategy by implementing:
Structure - how things will be done.
Process - in what order things will be done.
Symbols - adding familiar motifs and symbols your industry and audience understand.
Rewards - providing an incentive for your staff and your customers to follow through with the strategy - the light at the end of the tunnel.
People - knowing who will benefit the most from your strategy.
Activities - producing tasks and tactics that can be used in your strategy.
Functioning policies - researching if there are any internal or external policies (public and private policies) that could affect your strategy.
One last thing!
There is nothing clean cut about creating a strategy. You add things and remove things in order to achieve the desired goal. The bigger picture is the most important thing.