The effectiveness of a good strategy well implemented determines a
business' future success or failure. Yet history is full of strategic
decisions, big and small, that were ill-conceived, poorly organized and
consequently disastrous. This updated guide looks at the whole process
of strategic decision-making, from vision, forecasting, and resource
allocation, through to implementation and innovation.
Strategy is about understanding where you are now, where you are heading
and how you will get there. There is no room for timidity or confusion.
Although the CEO and the board decide a company's overall direction, it
is the managers at all levels of the organization who will determine how
the vision can be transformed into action. In short, everyone is
involved in strategy.
But getting it right involves difficult choices: which customers to
target, what products to offer, and the best way to keep costs low and
service high. And constantly changing business conditions inevitably
bring risks. Even after business strategy has been developed, a company
must remain nimble and alert to change, and view strategy as an ongoing
and evolving process.
The message of this guide is simple: strategy matters, and getting it
right is fundamental to business success.
