My first attempt to understand the meaning of famous word "STRATEGY". I am using this word for quite sometime during my conversation with teams. Whenever I want to focus on some long term plan with expensive investment. To me, Strategy means to have plan and road map to execute plan with existing resources. With fast changing markets scenarios, one need strategic direction and tactical steps to move in right direction.
Furthermore, Strategy could devised at different level in organization for different purposes. It shows the path to reach the identified goals. Mostly organization devise corporate, business and system strategies.
Lets try to understand business strategy - It frequently contains simple and common objectives like generate revenue, increase profit margins, reduce total cost of ownership, improve stability, increase agility, create brand value, focus on people and processes, deliver results, innovate, become leader in flat world, motivate people to drive organization and lot many similar things.
On similar lines, IT drives the Technology strategy from Business strategy. It plans the future road map from current roadmap, create plans/steps to reach the long term objectives, better align with the business directions, increase reliability and availability, improve service levels and create governance mechanism.
Strategy looks quite common sense and most of companies have strategy in place on similar lines. But not all companies are excellent and growing at tremendous pace. What else is needed for business to succeed? May be a excellent implementation of strategy, people who believe in strategy, leaders who keep the whole team moving together in right direction and selection of right strategy at right time.
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