Good decision-making matters. In many respects, the quality of our decisions informs the quality of our outcomes. Luck sometimes plays a part, but in the long run, it is the decisions that you take and the actions that you make that determines your relative success.
Life is not just about decision making. It is also about executing on these decisions. Good decisions without follow through are simply dreams unfulfilled.
In many respects strategy can be equated to decision making. Strategy deals with the very hard to reverse decisions, those that would have historically been life or death decisions.
When we think of strategy we think across 3 key areas, the first being strategic thinking, the second being strategy development and the third and final area being strategic planning.
Strategic thinking is the exploratory process of casting the net wide to understand the landscape within which we operate and to determine the options that are available to us. Developing the strategy speaks to choosing a particular path based on the options available. Strategy development is all about choices and decisions providing clear direction on what we will do and critically, what we will not do. Strategic planning then takes the strategy and translates it into a plan of action whereby we all can align our activities, towards the outcomes envisaged in the strategy.
Often these phases are confused, yet each is critical in developing a strategy that maximises resource potential, and ultimately the creation of value competitively. Yet developing the strategy is just part of the process. Creating a framework for which everyone aligns is probably the most difficult part and is the part where organisations typically fail.
Failures of Strategic Planning
Most companies inevitable spend some time in a year where they go offsite, hire an expensive consultant, and talk strategy for a couple of days. They leave the sessions feeling energised and proud of their efforts. Yet probably all that they undertook was the strategic thinking bit with limited hard decisions made and even less planning around what these decisions mean for operational departments and individuals.
In short, the process is incomplete and this in and of itself is somewhat meaningless as it provides a false sense of progress. Making decisions and then following through on them, measuring the outcomes and the ultimate impact are all critical and mostly overlooked parts of strategy.
Yet good strategy with good execution is what consistently separates the winners from the losers.
StratXe was built for one purpose. To guide us to making better decisions and to help hold us to account for executing decisions that we do make.
Strategy for the Future
In the age of AI, strategic thinking, strategy development and strategic planning should adapt to give you a competitive advantage. We at StratXe have developed an AI integrated, end-to-end strategy development and execution tool that touches all aspects of the organisation. From integrated organisational, operational and individual Performance Management, through to Portfolio, Programme and Project Management and ultimately strategy and its execution, StratXe is the single solution you need to transform your business and give you the competitive advantage that you need to succeed.
Built from our work with hundreds of clients, we understand the demands of crafting and executing strategy and how this should relate to organisations and the people within the organisation.
Our transformational solution drives towards better decision making, clear accountability, and line of sight for all relevant staff towards achievement of strategic outcomes and the necessary governance and operational tools to make it all seamless and efficient.