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Strategy is a two-headed prong. It is creative enough to fashion a vision, while being disciplined enough to drive the vision into reality.
Mike Freedman defines the word as the •À?framework of choices that determine the nature and direction of an organization.•À? It is a definition I like. The word •À?framework•À? establishes boundaries and scope. •À?Choices•À? are about products, services, markets and capabilities. •À?Nature•À? describes the character of any organization. •À?Direction•À? is the organization•À?s course determined by choices about future products, services, customers and markets.
Notice that a decision is not strategic simply because it is long-term or involves mega-dollar expenditures. While these can be made within the strategic framework, only those decisions that change the framework are strategic.
Freedman says there are three critical aspects to a strategy:
1. A strategic vision is based on facts, informed assumptions and critical what-if thinking.
2. The vision must be communicated throughout the organization.
3. Its implementation must be monitored.
I particularly enjoyed the section on Strategic Master Project Planning. Freedman says the purpose of master project plan is to assess the necessary strategic initiatives, integrate the existing operation projects, identify project priority and interdict those projects which are out of line with the strategic vision.
This is a great book. As always, organizations that desire to survive and thrive will have to mast the art of strategy creation and implementation. The Kepner-Tregoe five phase model on which Freedman bases this book is a great foundation for organizations and managers who wish to begin the journey.
Q: How do you shoot a blue elephant?
A: With a blue-elephant gun.
Q: How do you shoot a pink elephant?
A: Twist its trunk until it turns blue, then shoot it with
a blue-elephant gun.
I put instant coffee in a microwave and almost went back in time.
-- Steven Wright