Becoming more strategic

"Being strategic" is a phrase that appeals to business executives. I have not met any executive who doesn't say, or at least think, "Of course I want to be strategic, maybe even more than I am now."

But while strategy can "look interesting from across the room," being strategic may seem abstract and difficult to put your finger on. Being strategic is all about building the future. In my book, "Winning in a Hostile Environment," I identify 7 reasons companies lose. These reasons form a nice complex of questions that any executive team can ask themselves that will lead them to being more strategic.

The seven questions are

1.  who is my customer, who is my consumer and how are they different?
2.  where are we cutting costs on strategic initiatives as if they are utilitarian?
3.  what do I measure and how do I use metrics?
4.  how do I make pricing decisions?
5.  what about our culture constrains creativity?
6.  what about our culture restricts strategic change?
7.  how do I manage risks?

While it is easy for executive teams to spend their attention on short term practical issues, these solutions may or may not be contributing to long term success, Winning on the Double Bottom Line (DBL) should be a serious concern of any executive team committed to their mission.

Finding time to ponder these questions should be the focus of "strategic planning", not a "boiler plate", "word smithing", annual process that makes everyone feel strategic ,,,,