In this blog, we will examine the basic principles of real-world strategy. We will cover topics such as risk management, resource allocation, and more.
What is leadership strategy? you may ask. The general principles of real-world strategy are the act of guiding an organization or individual to achieve their goals by using a set of methods, tactics, and techniques.
I’ve come across many basic concepts of strategy in my 30 years of dealing with companies of various sizes. These aren’t always true in academia or for bigger corporations, but they are true for small and medium companies everywhere:
- Focus is what strategy is all about. The more priority in a plan, the less likely it is to be implemented successfully.
- To function, strategy must be continuously implemented throughout time. It’s preferable to have a poor long-term plan that is consistently implemented throughout time rather than a succession of great but incompatible ideas that never survive long enough to matter.
- A customized strategy is required. There are no tried-and-true methods. Every business is unique. A strategy must be customized to a particular business at all times.
- Realistic strategy is required. You must deal with your business as it is right now, recognizing what options you have and what knobs you can really adjust.
- Market-driven tactics are the most effective. When at all feasible, the focus should be on “how to make what people desire or need what we provide,” rather than “how to market what we have.”
- Displacement is something that good tactics recognize. In business, displacement refers to the obvious truth that whatever you attempt to accomplish excludes numerous alternative possibilities. You must select wisely since one initiative will supplant several others.
Hurdle: The Book on Business Planning is an excerpt from Hurdle: The Book on Business Planning.
General Principles of Real-World Strategy is a book written by John Boyd. It describes the strategic leadership characteristics that are necessary for success in real-world strategy.
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