A continuing post in the Why Strategy Matters series…
Strategy is one of those terms like leadership; it can have a lot of different meanings. In the context of operating or growing a small business, a business strategy articulates your core purpose – why you are in business and much more.
Think of your strategy as a process group – Strategy Management. The pillars to Strategy Management include developing a strategy that articulates your core purpose as mentioned, as well as key long-term goals with supporting capability objectives. As an extension of that plan, the strategy management process employs an effective execution model (project management and communication rhythm) with well-defined and documented business practices.
In our next post, I’ll breakdown why Strategy Management, specifically, should matter to you and your business.