Wednesday, December 2, 2015

Strategy is in coherence with Objective

What I really liked about this article was the fact that it tried to understand the market scenario.  It is imperative that our strategy corresponds to the market. Doing this skillfully is an art. However, calling strategy a pure art is slightly unfair. We need to follow a scientific approach. For instance Porters 5 strategy article talked about a framework and steps that one could follow to formulate a strategy tailored for that organization.

The article did not surprise me as much though since the strategy for most organizations no matter how bureaucratic it changes every 6 months at least. This may sound like a long time but think about a CEO that will attend these strategy meetings for every vertical in his organization. For him/her summarizing the strategy in 35 words or less is harder than we think. However, I believe it is imperative for a company especially its executives to know their strategy, objective and advantages. For, in the end it is these people that will take the company forward.

Historically, we have seen companies perform well when their CEO’s and executives are not only aware of the objective but are passionate about it. Take Apple for instance the CEO Steve Jobs entered the company as its CEO when the company was performing horribly in the market. The Operating system was not in place and they were on the brink of launching a web campaign. Jobs stepped in and changed the company’s objective completely he simplified their goals and objectives. He identified the company’s strengths in the market and leveraged it to cater to its customers. His leadership is idolized even today. To this day the company tries to follow the vision Jobs set for the company. I believe this is part of the reason for Apple’s success the leadership’s clear vision of the company’s objectives has instilled the beliefs in its employees and thereby creating a united force towards one goal.

In conclusion, I agree with the article to the extent that the executives of a company should be aware and agree with the strategy their company is to follow. Companies can use the “Bringing Science to the Art Strategy” as its framework. Having recurrent meetings to discuss the strategy and its implementation will reduce the effect of the strategy and thereby hinder its implementation. Ensuring the executives of a company are on the same page and aware of the company’s objective and goals will drive the company’s employees to strive towards this goal and therefore move towards the success. 

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