Strategy indeed is important to every organization and you don’t just create it, you plan it to run your organization in a straight line. You think, research, study and plan your strategy or in short, you strategize. Strategy is viewed in different perspectives and used in different manners. We need to know the strengths and weaknesses of an organization to have a basis on what strategy we can create against our competitors and for sustainability as well. This is important as it helps you outperform or outsmart your competitors in the present and also in the future to be able to gain an advantage and be competitive.
According to Mintzberg’s article, Crafting Strategy, “…one of the great challenges the corporate strategist faces: knowing the organization’s capabilities well enough to think deeply enough about its strategic direction”. When we strategize, we first consider the resources or skills that we have so that we know where to start. It gives us basis and ideas for us to carefully plan and formulate our strategy. Then we think of how to make use of the resources or skills and then plan on how we could benefit and use it as a tactic. It goes the same with organizations, making use of its strengths to create strategies that targets the weaknesses of other organizations.
As to what Henry Mintzberg mentioned in his article, it gave “…five definitions of strategies – as plan, ploy, pattern, position and perspective…” Strategy is used in different manners and an organization could apply these definitions in every aspect of the business. A strategy is made depending on who, what, when and where to use it. Entrepreneurs like me apply every possible definition of strategy either to outperform our competitors or keep the business running.
On another article by Mintzberg, it says that “…the competitor with the better strategy will win… the competitor with a clear strategy will beat the one that has none” To be able to have a better and clear strategy, you have to think deeply and carefully plan it considering a lot of factors from you and your competitors. Strategies help you survive. Having a business is like playing a game wherein the players are the organizations and they compete with each other creating their own tactics on how to win the competition and beat their competitors.
To conclude, as strategy is very important, strategy-making takes time before you can use it because it undergoes a lot of thinking and planning processes before it can even be successful although it lessens the uncertainty and risk of every organization. You need to know your organization well so you could develop your strengths and use it as your strategy. Used in any manner, a strategy is made to help you reach your goals for your organization and you need to think long and hard for you to stay in the game and make a big impression.
Hope this helps. Planning to put up a business? 🙂