The 4 Ps of Strategy Creation | ||||||||||||
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Features
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Home > Executive Report > Features
Many organizations rush to move their strategic planning efforts toward consensus, failing to realize that it should be a dynamic process that allows for adjustments and alternatives as conditions change. Here is a model for strategy creation that integrates perceptions, performance, purpose and process.
When it comes to creating a strategy for your business, it is rarely wise to move forward with just one carefully thought out course of action. Instead, it is wiser to encourage vigorous debate and develop several alternatives as part of the strategic discussion. The best scenario is to have three to five alternatives that are all so good that you experience a lot of angst over which one to choose. This process provides several benefits; among them are better critical thinking, increased creativity, and a number of alternatives to choose from as the future unfolds.
Unfortunately, many organizations don’t value this approach and they quickly move strategic discussions toward consensus. As a result, these organizations often end up caught by the marketplace when circumstances change. While their strategy may have been great at the time they created it, factors outside of their control can change the dynamics of their business and, without alternatives that were developed in their strategic planning process, they cannot respond quickly enough to leverage an opportunity or avoid a significant threat.
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