Business Today – August 25, 2019

78 IBUSINESS TODAYI August 25I 2019

N SIMPLE TERMS, a strategy is an overarching plan to achieve a

vision through a skilful interplay of ends, ways and means. Ends are

the goals or objectives which must be realised to achieve the vision;

means are the resources available to pursue these ends and ways are

the most efficient and effective methods for application of resources.

From its initial military-centric usage to define the ‘Art of the General’

in ancient Greece, strategy has acquired, over the years, a universal ac-

quiescence with a much wider scope. Since the 18th century, strategy has

enabled countries to protect, pursue and promote their national interests

and helped public and private sector organisations realise their long-term

goals and visions.

Winning strategies provide clear pathways for achieving goals by as-

signing strategic and operational roles, apportioning resources, eliciting

accountability and putting in place an architecture for monitoring and risk

management. Based on a detailed, prognostic appraisal of the environ-

ment, these are crafted through an interactive and distributed process.

Such a methodology ensures that the aspirations of all segments and

sub-systems of the organisation are factored

into the strategy-planning process through

collective wisdom. It also helps develop ab ini-

tio ownership of various prongs of the strategy

besides enhancing accountability. Winning

strategies are supplemented by directives,

doctrines and procedures which help in

decision-making and regulate the behaviour

of all members of an organisation.

Although winning strategies are tailor-

made to attain specific goals and visions,

they possess inbuilt f lexibility that facilitates

necessary tweaking, thus keeping them

relevant in an ever-changing environment

and helping them evolve, based on experience

and emerging trends. They also help strategic leaders readjust or aug-

ment the resources and realign the techniques and methods required for

their application. Therefore, winning strategies are a product of strategy

by intent and strategy by default. Based on informed choices, strategic

intent spells out the mission and allows subordinate leaders the freedom

to exercise initiative within an articulated strategic framework. On the

other hand, default strategy brings in changes dictated by circumstances

and, at times, even by preferences, biases, concerns and unconscious

assumptions of the senior leadership. A review of various prongs of the

strategy, preferably on a half-yearly basis by the senior leadership, helps

ensure the right blend.

Besides monitoring its prongs, the

framework for strategy implementa-

tion must also facilitate mission-relat-

ed monitoring of internal and external

environments. It enables strategic

leaders to sustain the desired organ-

isational culture and helps them shape

the external environment and manage

risks proactively. Although this moni-

toring is specific to each enterprise,

some common aspects that merit at-

tention are detailed information about

competitors, including their strategies,

strengths and weaknesses, emerg-

ing global trends and best practices,

advances in technology, government

policies, public opinion and market

sentiments, internal health of the

enterprise, impact of climate change

and so on. Also, organisations must

start taking climate change more

seriously as it will increasingly impact

the availability of resources, disrupt

supply chains and eventually, unhinge

even the best of strategies.

Internal monitoring ensures

accountability and, consequently,

timely attainment of objectives. It

also helps gauge the levels of content-

ment, confidence and camaraderie.

No strategy can ever succeed without

the enthused and committed involve-

ment of human capital. A healthy

internal environment fostered

through ethical management helps

ensure high levels of morale and

motivation. Leaders must diligently

invest in the professional growth of

their subordinates and guide them

in fulfilling their assigned roles and

realising their self-actualisation

needs. Equal opportunities should be

provided to all members of the team

Piecing Together a

Winning Strategy

WINNING STRATEGIES SHOULD HAVE ENOUGH

FLEXIBILITY TO STAY RELEVANT AND EVOLVE

IN A FAST-CHANGING ENVIRONMENT.

COLUMN

BY

GEN. BIKRAM SINGH

ANYTHING WHICH

HAS THE POTENTIAL

TO IMPINGE ON

THE SMOOTH

ATTAINMENT

OF STRATEGIC

OBJECTIVES AND

GOALS MUST BE

FACTORED INTO

RISK MANAGEMENT

PLANS

I