Happy 2025! Here's wishing you much health, wealth, and happiness throughout this New Year and beyond.
I've been on a bit of a hiatus from writing blog posts. Much to do personally and with clients. We still have some 5 principles to review, so look for these to come your way soon.
For today, I thought we might switch gears and talk strategy. This is a term that comes with many different definitions, depending on who you talk to. Much of my client work centers around strategy and I know how I look at and apply it.
Lately, I've been reading LinkedIn posts that bring different perspectives to the subject. I thought it might be worthwhile to share a few of these short articles with you over the next few posts.
This first blog post comes from Marc Sinukas. Connect with Marc. In his LinkedIn post, Marc gives credit to Alex Brueckmann. Connect with Alex.
Here it is with a nice visual. Let me know what you think.
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Forget "Strategic Planning"
Strategy and Planning are very different things.
- Connect them the right way.
- And link them to Foresight and Signaling.
FORESIGHT
↳ LONG-TERM bets
↳ Identifies scenarios to shift the market
↳ Aims to create future market dominance
Example:
→ Developing a new generation of processors
STRATEGY
↳ MID-TERM choices
↳ The priorities to win in your chosen market
↳ Protects relevance and value creation
Example:
→ Divesting a business division
PLANNING
↳ SHORT-TERM plans
↳ Allocates budget to move strategy into action
↳ Connects strategy and operations
Example:
→ Capturing who does what by when in a project plan; budget planning.
SIGNALING
↳ IMMEDIATE reactions
↳ Informs your response to external events
↳ Safeguards operations
Example:
→ Identifying alternative suppliers before looming conflicts disrupt supply chains.