Friday, May 20, 2016

It's Not One Size Fits All

I found the article "Your Strategy Needs a Strategy", to be one of the more interesting and informative ones because it really outlined the different ways strategy needs to be molded to fit your companies needs. Strategic plans are not "one size fits all" and it takes time and effort the idea of what your strategic plan should be. Not all companies are created equal and where one strategy might work for someone else's company, that doesn't mean that it'll necessarily work for yours.  Some industries are more volatile and others are quite predictable and depending on where yours falls, it's important to fit your strategic planning style to fit the industry you are in. I felt like the article mentioned above was great at dividing out the different kind of strategic styles that companies can incorporate.  It really made me think about where I work and how we could benefit from acknowledging our style.

I think it's important for companies to look at their strategic plans from the past and see what worked and what was maybe not so successful in order to forge ahead with a new strategy.  You don't want to repeat past mistakes, so it's useful to analyze the processes of the past. Strategies, if used successfully, can keep you grounded on course.  I've always found strategic plans to be somewhat useless due to my past experiences, but reading the articles really made me see how helpful they can be to companies when used successfully.

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