ST. LOUIS, Jan. 27, 2016 /PRNewswire/ -- Thriving in the today's competitive business environment demands invention, improvement, and innovation. To win, you must observe, orient, decide, and act (O-O-D-A) better and faster than your competition. This is your competitive "OODA Loop" a time-tested principle of warfare that applies equally as well to the business arena.
The heart of the OODA loop is your business strategy: the orchestrating roadmap that coordinates the capabilities, resources, and actions you need to achieve your goals. Indeed, according to Kenichi Ohmae, author of The Mind of a Strategist, "What business strategy is all about...is, in a word, competitive advantage."
Business that implement a strategy are more profitable, but according to Joe Scherrer, President of The Leadership Crucible, "It's shocking to me how many businesses don't understand the importance of sound business strategy. Most are so involved in the tactical details of running their business day-to-day that they have no idea how they really stack up against the competition or how much better they could be doing if they had a comprehensive strategy." Companies that lack a strategy fail to understand the competitive environment and put their organizations at risk. Even for those that do create a strategy, less than 10% effectively execute it.
Those that do commit to their strategy find the following benefits:
- Broadens and deepens understanding of the competitive environment
- Allows space to formulate solutions to the challenges the organization faces
- Captures the company's future direction, strategy, and business model
- Creates clarity, focus and direction of time, energy, money, and resources
- Builds consensus within the leadership team and the organization on the future of the business
- Establishes a clear "point B" and identifies the "why" and the "what" needed to get there
- Provide a base from which progress can be measured
- Increases productivity for increased efficiency and effectiveness
- Drives organizational vitality and growth
"The process of developing a strategy is incredibly useful. We use a proprietary process called Compete to Thrive™ based on proven strategy development methods used in the US Armed Forces," says Scherrer. "As awareness grows during the process, light bulbs begin to go off among the leadership team as the picture of a new and exciting future emerges. It's really powerful, and I've seen it work time and time again." Done well, the end result generates alignment, actionable goals, common understanding, motivation, and teamwork. Most importantly, with effective implementation and feedback, the strategy drives business results.
To develop your own comprehensive growth strategy so that you can Compete to Thrive™ in your business, engage The Leadership Crucible at email@example.com or 636-209-3270.
The Leadership Crucible is a Service Disabled Veteran Owned Small Business.
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SOURCE The Leadership Crucible