FAILURE SUCCESS

CORPORATE STRATEGY AND STRATEGIC DECISIONS : THE 10 COMMANDMENTS.

Strategy is the direction and scope of an organisation over the long term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfulling stakeovers expectations*.

 

 

STRATEGIC DECISIONS ARE ABOUT :

  • The long term direction of an organisation
  • The scope of an organisation’s activities
  • Gaining advantage over competitors
  • Addressing changes in the business environment
  • Building on resources and competences
  • Values and expectations of stakeholders

THEREFORE THEY ARE LIKELY TO :

  • Be complex in nature
  • Be made in situations of uncertainty
  • Affect operational decisions
  • Require an integrated approach
  • Involve considerable change

THE 10 COMMANDMENTS WHEN IT COMES TO CORPORATE STRATEGY :

  1. YOU MISS 100% OF THE SHOTS YOU NEVER TAKE.
  2. BETTER TO ASK TWICE THAN TO LOSE YOUR WAY ONCE.
  3. YOU NEVER GO WRONG DOING THE RIGHT THING.
  4. DON’T BLAME OTHERS FOR YOUR ERRORS. IF YOU ARE RESPONSIBLE, TAKE THE HIT.
  5. GET THE WHOLE STORY BEFORE MAKING A DECISION.
  6. AVOID SHORTCUTS. THEY ALWAYS TAKE TOO MUCH TIME IN THE LONG RUN.
  7. KNOW WHEN TO CUT YOUR LOSSES AND MOVE ON.
  8. KNOW WHEN TO HOLD. KNOW WHEN TO FOLD.
  9. THE BEST TIME TO SELL A HORSE IS BEFORE IT DIES.
  10. KEEP TO BOTH THE LETTER AND THE SPIRIT OF YOUR AGREEMENTS.

PHLDUCX

* Gerry Johnson, Kevan Scholes, Richard Whittington.