An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage.
You've got to eat while you dream. You've got to deliver on short-range commitments, while you develop a long-range strategy and vision and implement it. The success of doing both. Walking and chewing gum if you will. Getting it done in the short-range, and delivering a long-range plan, and executing on that.
Getting the right people in the right jobs is a lot more important than developing a strategy.
Strategy is not a lengthy action plan. It is the evolution of a central idea through continually changing circumstances.
A strategy is something like, an innovative new product; globalization, taking your products around the world; be the low-cost producer. A strategy is something you can touch; you can motivate people with; be number one and number two in every business. You can energize people around the message.
If GE's strategy of investment in China is wrong, it represents a loss of a billion dollars, perhaps a couple of billion dollars. If it is right, it is the future of this company for the next century.
Too many people believe that one big, public success will solve their self-confidence problems forever. That only happens in the movies. In real life, the opposite strategy is what works. Call it the small victo-ries approach. In time you will discover that all failing really does teach you something you needed to know- so you can regroup and stretch again, with ever more...nerve.
In real life, strategy is actually very straightforward. You pick a general direction and implement like hell.
Shareholder value is a result, not a strategy . . . Your main constituencies are your employees, your customers and your products.
When it comes to strategy, ponder less and do more.
Strategy is simply resource allocation. When you strip away all the noise, that's what it comes down to. Strategy means making clear cut choices about how to compete. You cannot be everything to everybody, no matter what the size of your business or how deep its pockets.
Strategy means making clear-cut choices about how to compete.
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