The biggest mistake we made is to think, act and treat strategies as being a static document used to focus our attention.   In general most companies of modest to large size do a pretty decent job at adhering to the basic framework for corporate strategy development.  Meetings, discussion, estimations/projections, and action steps are produced in methodical fashion.  Almost from the onset our fine work is under attack from both inside and outside of the company.  Conditions, customers, staffing and even our suppliers introduce an element of change with varying levels of impact.  For this reason our strategies cannot and should not be a document but rather a system driven by ongoing strategic adjustment.

Winning corporate strategies are always looking at options whether it be to service internal operations or meet the needs of current or future customers.  Depending on the type and range of business that is being offered will depend on whether this can be carried out from afar or whether we need to move our operation closer to our strategic partners (including service providers, customers, trading partners and possibly even key investors).

So what makes for corporate strategy success.  Here are a few that are tops on our list.

  1. Follow all of the rules relative to strategy (and tactical) development.  Such matters as broad involvement, prediction and dynamic oversight are a few examples that work well and should not be lost in the process of enhancing your strategic efforts.
  2. Shift from strategies (as a document) to strategies (as a living system).
  3. Be a student of news and global analytics.  While there is an abundance of information not all is sound, well founded or appropriate qualified as to its range of applicability.  For this reason we must broadly review, loosely apply, and carefully watch.
  4. A key in today’s rapidly changing economic setting goes beyond the resilient  responsive system based strategies as not previously.   It must also have, at the ready options whether it be location, backup alternatives, parallel relationships, live performance analytics and foremost a high degree of unbiased/impartial willingness to have honest admission supported by change that is captioned by the same norms.
  5. Keep your finger in the pie even if it’s not in play at the moment.  Always be looking for new opportunities, locations and markets.  There are far too many examples where only one option is in play and when things turn bad there is no readiness to take up a new path/option.   FDI (foreign direct investment) opportunities should always be ready, the network of relationships in place with the only thing remaining is to put it into play when it seems appropriate.

It is the CEO’s responsibility to see that the strategic vision fulfills shareholder, employee and customer desires.   In doing this he/she will call upon others to contribute, and perform all of the necessary steps need to take it from concept to implementation.  Regardless of outcome, regardless of the challenges that it may pose, the responsibility for sound and winning corporate strategies remains the responsibility of management.