I’ve often said that it’s not the lack of strategic thinking that gets many business leaders in trouble. Rather, it’s mistaking other kinds of thinking for strategic thinking that can cause all sorts of problems in an organization of any size with direct reports. When a strategic direction is chosen, it must be communicated to everyone to ensure alignment with that strategy. However, to mistake a tactic or activity or a goal as a strategy can be a shortcut to disaster, as Michael Porter emphasizes in this excerpt.
Unlock the growth potential of your business by being clear that a strategy is how your organization is going to achieve a unique, desirable, and sustainable position in the marketplace. Watch this video and share your thoughts on the lessons you learn.
Bill Ringle is a CEO, former Apple exec, published author, and angel investor. Through Grow Business Now, he offers strategies and tools to elevate growth for executives and entrepreneurs from more than 46 industries. Bill has conducted nearly 200 podcast interviews on My Quest for the Best, where industry and business leaders share their secrets to success.