What is Strategy?

What is Strategy?

I have been thinking a lot about the word strategy and how often it gets used. It seems like everything today is tagged with the word strategy. For example, “We scheduled a strategic planning meeting for tomorrow,” or “an emergency product strategy session has been called,” or “we had our company’s yearly strategic business plan announced today.”

Strategy or the various forms of the word are very popular in our business vocabulary in the 21st century. I often wonder if the word is being properly allocated or overused, is it a verb or is it a noun, and do we say it complacently because it is a popular buzz word and it makes things sound more important…or do people say it because we really are thinking and acting in a more deliberate and focused way?

I am interested in what others think about the word strategy and what it actually means to them and their business activities. Is it something that is only done at the top of the corporate ladder or does it happen at other levels in the business too? Is it formal and deliberate, is it difficult and time-consuming, or can it be simple and applicable on an everyday basis?

All of us at CMOE believe that strategy is for the entire organization and that is why we have helped several companies and consulted on strategy. We want businesses to succeed to outperform their competition. We know that strategy can help any organization.

Leave me your thoughts in the comments section below. Here’s a video we’ve put together that talks about the difference between a plan and a strategy:

About the Author

Matt Fankhauser

Matt began his career with CMOE and is a Regional Vice President. Matt has experience in management, marketing, advertising, and sales. He has developed and delivered personnel performance reviews, been involved with hiring, interviewing, and training processes for different employment positions. He has participated in market research and conducted interviewing involved with the research. He has delivered keynote presentations at various association meetings for SHRM, ASTD and others. He has facilitated groups in training sessions involved with the skill development of Coaching, Leadership, Team Building, Facilitation, and Strategic Thinking. He has also been involved with the design and development of Executive Team Retreats, organizational case studies and training materials, as well as the translation of organizational training materials.