JUNE 2024BUSINESSMANAGEMENTREVIEW.COM8My strategy journey began years ago, and much like many of you, my strategic thinking evolved alongside my changing responsibilities. As it gradually became a more significant part of my role, I had the opportunity to observe different styles of strategy and strategy execution.As a guest invitee to an executive meeting, I was able to offer alternatives to the sales lead's assumptions regarding reasons for a mini-price war and the need for extra discount approval after the launch of a new product line. As a result, the price war was resolved without further issues. The experience taught me that it's okay to bring different ideas into a closed circle.HOWEVER, I FOUND THE OUTCOME SOMEHOW UNSATISFYING."Insanity is doing the same thing over and over and expecting different results."One of the most frequently asked questions I still encounter when talking about or teaching strategy is, "What is the strategy?". This is particularly poignant, as it suggests the strategy was either not communicated to the right people or at all or pitched in a suitable manner to the audience. An old picture of strategy written in secret in a dark room by a small group often comes to mind.One of my first genuine attempts to change thinking involved a quote often attributed to Einstein about insanity. The truth is though, that this approach didn't win me many friends in management "If You Always Do What You've Always Done, You'll Always Get What You've Always Got." ~ Henry Ford".While it's true that strategy formulation has become more inclusive and transparent, and there is plentiful online content, studies continue to show that over half of companies fail to achieve DEMOCRATIC STRATEGYBy Antony Jolley, Senior Director of Strategic Planning and Business Development, Konecranes
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