Business strategy begins with mission and vision–the destination. The strategy, and how you implement it, depend on knowing where you are going and what you want to accomplish. A very clear idea of what the organization will be in the future including such items as market position, competitive advantage, competencies, size, and key talent required are important. The best companies create a vivid vision. The also-rans settle for a vague one-sentence vision that says they’ll be the best in their industry, but provides no clarity on what that means. Being clear on the destination, whether in business or in sailing is a key element of strategy. This video compares setting a destination in both business strategy and in sailing strategy.
See all eight segments of Navigating Corporate Strategy at my YouTube Channel: http://bit.ly/1mGfyUY
Bob Legge works with companies to improve individual and organizational performance. His clients have included Fortune 500 companies, mid-size companies, non-profits, education and government. To find out more, contact Bob at firstname.lastname@example.org or call him at (585) 305-7853. Bob’s website is www.boblegge.com.