“All men can see these tactics whereby I conquer, but what none can see is the strategy out of which victory is evolved”.
Sun Tzu
Introduction
While you might think that the best way to create a winning strategy is to make every decision based on what you know, this is totally different here. More planning in preparation for the future means that organizations must be aware of the fundamental issues they could be facing now or put off implementing their strategies until they are forced to do so by their current circumstances.
Then, they realize their plans are too optimistic and don’t consider their needs or what might happen if they don’t carry them out.
While this may work in some cases, it can cause many organizational issues. The best way to avoid these problems is to clearly understand the changing or unforeseeable circumstances that could affect your business now or in the future and adapt your strategies to suit. There are a few key things to keep in mind when developing a winning strategy:
1. Assess the current situation
After determining your current business situation, consider the likely effect the situation will have on your customers, staff, and assets. This is usually obvious, but you should also consider the possible consequences of any changes, either positively or negatively. These scenarios could include an economic recession, growing consumer debt, and higher demand. If the situation constantly changes, this is a good time to adapt your strategies accordingly.
For example, if several outlets offer the same products and services to the same customer, competition from other outlets will reduce their profit margins. However, if the situation is stable, you will have more room to adapt your strategies. Therefore, the key is to research the marketplace, identify opportunities where adaptation is possible, and explore these opportunities with your customers and staff.
2. Develop an adaptable strategy
You must ensure that whatever strategy you choose is adaptable and not forced upon you by a crisis. This does not mean that you should avoid crises altogether, but you must ensure that you can keep your eye on the prize of “improving your business.”.
The crisis will come; it is part of the business. It is important not to let it affect how you run your business.
3. Implement the adaptive strategy
The strategies you decide to implement should be designed to be easily implemented. You may have to bring in additional staff and buy other equipment, supporting software, and tools to implement these strategies.
These costs will likely become a reality if your chosen strategy requires a transition period. As long as you plan and your plans for putting them into action continue, you will find the best ways to develop a winning strategy.
In conclusion, you can improve your business by learning more about creating agile strategies as a small business owner or strategist. The best way to develop an adaptive strategy is to think about what your competitors are doing and how they do it. If you do this, you can change your plan and significantly increase your chances of success.
About the Author:
Loay Dirar, educates, writes, and advises on strategy development and implementation, as well as change management and risk management for major regional organizations in the Middle East and North Africa. He has 19 years of management experience, including ten years as a manager in multinational subsidiaries of organizations based in the Middle East and North Africa (MENA).
