Have you just been promoted CEO/Director or General Manager? Congratulations and welcome to the world of strategizing! Now you can doze early, wake late, play golf, cancel meetings and go to Bahamas. On company time!
But I bet you’re nervous. While your old job focuses on specialized tasks, your new position frees your mind to explore the business’ macro perspective. You’ll be steering the ship from the captain’s chair. Creating a vision will be your mandate. And strategizing will take about 110% of your working hours. Does that much freedom cause abnormal wetting of the pants? If so, resign. If not… read on. You got a lot of strategizing to do.
So what exactly is strategy? Most managers define it vaguely as “a plan”.I see it more precisely as a grand design to employ means and resources to achieve specific ends.
The CEO is paid handsomely to create a fit between assets and objectives. This balancing act is the soul of strategy.
Now there are good CEOS and better CEOs. The manner by which the CEO lays down strategy determine’s his stripes. You want to be a good CEO to keep that job and its fat perks. That means you must excel at strategizing.
What makes good strategy? As you will soon be aware, the world’s greatest CEOs dominated the market when their strategy exhibited:
* CONSISTENCY. Strategy is consistent with external trends and internal resources. The CEO makes realistic assumptions and plans based on achievable aims and with the capital available.
* FOCUS. Strategies ensure that extant resources home onto specific targets. The CEO offers clear and decisive objectives.
* BALANCE. The resources demanded by proposed strategy is balanced with the resources the company owns or can attain.
* FLEXIBILITY. Strategy integrates contingencies to allow maneuvers and evasive action.
* SURPRISE. Strategy generates surprise and allows the rapid, stealthy attack of unprepared opponents.
* SECURITY. Excellent strategy secures resource bases and vital operating points of the enterprise.
* FIT. Startegy finds a good balance between risk and reward.
* PROACTIVE. Strategy maintains the initiative and shuns reactionary responses.
Now get out there and justify that six figure salary of yours! STRATEGIZE!