How do you define strategy? If you asked five people on your team for their definition of strategy, would they all be the same? Probably not. Strategy is one of the most common business terms and at the same time, one of the most commonly misunderstood. Research has shown that for the past 50 years, there have been more than 90 different definitions used.
Before you can effectively lead strategic thinking and strategic planning exercises with your team, it’s important to share a common language for strategy. Without a common language and understanding of strategy, people will waste a great deal of time trying to get on the proverbial “same page.”
I’ve developed the following infographic as a concise way for you to share the definition of strategy with your team to begin the conversation. I’ve also included the GOST Framework, which has helped tens of thousands of managers use a clear and simple framework to clarify what strategy is and how it’s different from goals, objectives, and tactics.
I’d love to hear how your team approaches strategy. Do you have a common language and understanding of strategy? If not, please share what you believe are the key issues to be addressed. And if you do have a common language for strategy, we’d benefit from hearing your definition and tips.
Help your team develop their strategic thinking and planning capabilities through executive leadership team workshops and individual strategic coaching. Explore the following strategy workshop topics and more than 200 resources to build your team’s strategic thinking and planning capabilities.
- Deep Dive: Developing Your Team’s Strategic Direction
- What is Strategy? Creating a Common Language and Understanding
- Sharpening Your Strategic Thinking & Planning Skills
- Elevate: Advanced Strategic Thinking and Planning for Executives
- Competitive Strategy to Win in Your Market
- Business Model Innovation
- Leading Strategy Conversations with Colleagues and Customers
- Innovative Thinking: Tools & Techniques for Creating New Value for Customers