Claire Kinloch, CEO and Strategy Director, reminds us that a really good starting point for a strategy is to think about your aim.
And so it continues, the uncertainty – what, how and when will things change? How can leaders possibly feel secure and focused at a time like this?
The word “strategy” is used so frequently by so many, referring to so many things, we often forget its true purpose.
And considering what it is not, can be helpful:
- It is not an action, it is a plan
- It is not a message or a campaign
- It is not a list of things to do
Strategy in its simplest form is developing a plan that best utilises your available resource (personnel/ financial/ other) to best effect to achieve your aim.
So fundamentally, a really good starting point is to think about your new aim in the current climate:
- Sustainable profit?
- Job retention?
- Capitalising on an opportunity?
It is only then we can think creatively and innovatively about the range of things we can do to get there. This might include:
- Building 1st class customer relationships
- New product development
- Product discontinuation
- New channel strategy
- Overhead review