I just returned from Rhode Island, where I attended “The Strategist” workshop, which was conducted by Alan Weiss, Ph.D. It was simply outstanding.
Here are some of my takeaways:
- Strategy is the what, tactics is the how
- Planning kills strategy. Strategy is top down, planning is bottom up.
- Strategy starts with the end desire. Paint a picture of the future.
- Being good at what you do trumps being at the right place.
- The key to strategy is to make enough good decisions, not one perfect decision.
- Strategy is organized serendipity
- Strategy is a continual process, not an annual event.
- Ambiguity is the norm.
- Process visual charts of the Strategy Quadrant, The Strategic Profile and Risk /Reward Ratio which I will publish shortly.
How do you recognize a good strategy?
- Anyone in the company is able to talk about it.
- Executives in the company held directly responsible for implementation
- Executives constantly looking and reviewing its effectiveness.
Lastly, some points of interest:
- If IBM were still a punch card company they would have been out of business many years ago. They are in the information exchange business.
- Steve Jobs: “We wait for the next big thing and we then jump at it”