If you have answered ‘TRUE’ to any of these questions (which will probably be the case for many of us), congratulations, there is an opportunity to being even more strategic?
Go ahead! Be strategic!
Here is a summary graph to help you identify where and how to invest your time IN & ON your business.
OPERATIONAL | STRATEGIC |
Caracteristics | |
Implementation | Formulation |
How | What, where |
Means | Ends |
Plans | Vision |
Efficiency | Effectiveness |
Results | Risk |
Shorter view | Longer view |
Daily/week | Quarter/year |
Individual | Handful or staff |
High number of decision | Very few number of decision |
Benefits | |
Short term problems are addressed | Increase probability of sustainable competitive business advantage |
Simpler and familiar | Aligns people with important values |
Responsive to local needs | Attracts investment and top talent |
Feels good for people who value activity and tangible results | |
Down side | |
Too many priorities | Discussion can seem to be abstract and cause frustration: discussions are long, subjective, ambiguous, complex and irrelevant |
Firefighting and crisis management | Allocating time away from operations means saying no to sometimes-urgent problems |
Entrenches inefficient process and redundant systems | Strategic thinking, planning competencies, and self-discipline are required. |
Slow to respond to changes in business model | The status quo may be good enough |