Strategy is everywhere. Whatever you can think of that has been done, there has been a strategy behind it. Even the simple act of cooking entails strategy. The order in which you put in the ingredients and how you handle them for the desired meal is strategy.
Scholars have tried to define strategy to no avail. There is really no one definition of the term. Strategy can have diverse meanings to different people. The easier thing to do here is to go straight into seeking to understand what every strategy must do.
A good strategy must offer continuity. Thus, in developing your strategy, give it serious thought to ensure that you won’t have to change it too often.
A great strategy will have a lot of trade-offs. It will show you all the things that you should do away with as compared to those that you must uphold.
A good strategy is one that has been developed through conceptual and analytical exercises that consider ideas concerning both organisational and industry data and possibilities. Strategy development involves engaging in diverse thought processes.
Everything must fit together in a good strategy. There must be a free flow from one idea to the next. In fact, the whole process should form a perfect circle.
The designed activities must thus work towards the same perspectives or closely related viewpoints. For example, if you have an activity that saves time and another that saves money, you will be working towards saving resources for the company. This can help you to increase employee salary, which in turn will get them motivated enough to perform better. Now, that’s strategy.
A well-designed strategy thus directs the necessary energy to the right places, promoting internal consistency; simplifies decision-making, as there is already a guide on what should be done; enhances performance, as everyone knows what to do to achieve the target.