Strategy is one of the most misused terms in business. I have applied a simple framework to help make sense of strategy and some other commonly misused business terms. I hope you find this framework helpful.
7. MISSION VISION VALUES GOALS TACTICS
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8. Today Future
Start with an assessment of where you are
today. What are your organization’s strengths
and weaknesses? Then decide where you
want to be in the future. What are the
opportunities and threats in the market place?
9. Today Future
VISION
Set a vision describing what you expect the
world to be like in the future. In other words,
where you expect your chosen market to
move. The vision describes the external
environment and where your company fits in.
10. Today Future
GOALS
VISION
Based on your vision of the future, set goals for
your organization. While the vision can be
somewhat vague make sure your goals are
specific and measurable. What do you want
your organization to achieve in the future?
11. STRATEGY
Today Future
GOALS
VISION
Strategy is what gets you from today to your
goals in the future. Your strategic choices need
to support your organization’s attainment of the
goals that have been set. Strategy isn’t a
single ”thing”, it’s more like a roadmap.
12. STRATEGY
Today Future
GOALS
VISION
As strategy is a long term endeavor it cannot
be actioned by itself. You implement a strategy
by making tactical movements that align with
the strategy. If strategy time span is five years,
tactics are to be implemented in a year.
13. STRATEGY
Today Future
GOALS
ACTION
ACTION
ACTION
ACTION
VISION
Once you have mapped out the tactics that
support the strategy roadmap, you can start to
plan concrete actions that implement the
tactics and the strategy. Don’t be too rigid, if
the world changes, your strategy must change.