How do CEOs and their executive teams develop strategy? The accepted process is like coupling two sides of an equation. On one side sits the organization’s external environment, with all its changes and trends. On the other side sits the organization with all of its internal capabilities. Strategy is about how you align the two.
Executives, Let Stakeholders Drive Your Strategy
You can only get so far by looking inward.
September 21, 2021
Summary.
The traditional process of making strategy is about managers finding a way to align a company’s capabilities with its opportunities and environment. That works well enough when environments are relatively stable, but not in highly unstable ones. In this situation, the solution is to treat strategy as a discovery process. Identify your stakeholders and find out what they expect of you. This engagement should be made by senior executives with strategic responsibilities; what they learn often surprises them.
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How to develop a winning strategy—and put it to work.
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New!
HBR Learning
Strategy Planning and Execution Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
How to develop a winning strategy—and put it to work.