Wednesday, November 4, 2015

Your Strategy Needs a Strategy

It was stated in the first class slides that" Strategy is the creation of a unique and valuable position, involving different set of activities and creating the fit among those activities". Decomposing the statements we can break the activities of strategies into finding a fit, creation unique activities for achieving the fit. If these activities can be considered as your strategy , then the means and methods to achieve those activities will also constitute as a strategic process. Therefore the term 'your strategy needs a strategy' implies 'your methodologies need a method'.

The Article brought about the fact that identifying the kind of market and aligning your strategy to satisfy the 'market needs' is a good approach to formulation of your strategy.  The four styles - classical, adaptive, shaping, and visionary cover a broad range of industries and therefore covers the majority of the industries. Instead of figuring out whether this approach suits for strategy planning process, lets try to understand why a planning process is needed for formulating strategies.

In the Article 'The Real Value of strategy planning ' , the authors formulate a process for developing good strategies by a proper formal approaches such as board meetings. They also state that most strategies come out of casual conversations , which can be considered as informal approaches. The Article 'Building Your Company's Vision' , states that having a clear core vision shapes your ability to formulate the correct Strategies for a sustainable organization. All four different approaches or methodologies mentioned are some of the few manners in which a strategy can be formulated.

The manner of effectiveness and the disadvantages for choosing such approaches are clearly provided in the respective articles itself. Due to lack of time and space, i had to resort to illustrating the facts with the help of the Assignment articles itself, but the fact that different methods were employed for planning strategies and the crucial importance of choosing the right methodologies in planning your strategy, can be understood. Sometimes combinations of such approaches is also essential for an effective Strategy.

One key takeaway form the article is the fact that your strategies for devising strategies should always be dynamic addressing the problem and suited to that particular point of time. All the approaches mentioned in the articles had a specific set of problems to be addressed and each approach varied according to the time. The manner to devise strategies need not always be the same and before a strategy can be made up, a strategy to identify the issues and the context of the issues is essential.

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