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Friday, September 29, 2006

Strategy Execution - Part III

According to Fred Nickols, "Strategy is many things."

It involves a..
  • A Plan (how we intend to realize our goals)
  • A Pattern (a course that reconciles what we want and how we're going to get there)
  • A Position (a stance, a positioning statement of who we are - and who we aren't)
  • A Ploy (how the strategy unfolds relative to competitive advantage)
  • A Perspective (how we view our organization and our competitors)
"Strategy is getting it right and doing it right. On the one hand, we have to pick the right course of action. On the other hand, once chosen, we have to carry it out (execute it) properly.

Strategy is . . . well, strategy is everything. Strategy is timing, then, because, as the comedians tell us, timing is everything. When the time is right, we use the word "opportune" and thus imply the existence of opportunity. This is how intention reconciles itself with reality and how tactics shape strategy.

As Tom Peters once said, "Execution is strategy." Algebraically speaking, that means strategy is execution. In much simpler terms, we adapt to changing circumstances. So does strategy."

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