Pop The Question
Because strategy is such an ambiguous concept, don’t embark on a ‘strategy process’ before you’ve asked and answered these three questions.
1) What do we want to achieve with the process?
2) Why is this very important for our company?
3) What are the different ways we could go about it?
Many strategy processes suffer from a lack of preparatory thinking and alignment, but if you don’t ask and align, you’re asking for trouble. What does your company really need at this point? A fresh look at your purpose? A different angle on the customer journey and value proposition? An in-depth look at the market with a view to carving out new growth opportunities? A fundamental rethink of the business model? A reset of the way the organization thinks and works. New ways to get leverage from your existing assets and capabilities? Or something completely different?
Whatever it is your business and organization need the most at this point, spend a couple of executive sessions figuring it out. The effort will be repaid many times.