Decoding Business Strategy: It's All in the Action
"Strategy is what you do, not what you say," in the words of Roger Martin. Actions, not words, are the essence of a company's real strategy. Here's why:
1. Strategy is Defined by Action, Not Words
Your company's true strategy isn't about fancy missions and visions, or eloquent speeches. It's in the day-to-day decisions and behaviors. That's where the rubber meets the road.
2. Every Company Operates on a Strategy
Whether you've penned it down or not, whether you admit it or not, every business has a strategy. It's about the decisions you make on what you offer, how you deliver value, and the capabilities that sustain them.
3. It's Harmful to Say and Do Different Things
Mismatched words and actions? That's a recipe for confusion, cynicism and mistrust. For a strategy to work, the espoused strategy and the strategy-in-use must be the same.
4. Unpack the Present to Create the Future
Want to get to improve your strategy? Reverse engineer your current one, get to the heart of it. Dive deep into past decisions to get a clear picture of your strategy-in-use. This serves as a springboard for the future.
5. Coherence is what drives Winning Strategies
Dream big, but stay rooted. Lofty goals without considering your company's real capabilities, resources, and environment are just castles in the air. Successful strategies are coherent and anchored in reality.
Conclusion: At the end of the day, a strategy is all about the tangible steps you take. Leaders need to ensure everyone's on the same page, walking the talk. It's not just a top-tier game; it's an all-hands-on-deck approach.
As Sun Tzu put it: "Tactics without strategy is the noise before defeat."