Wednesday, March 08, 2006

Startegy for Success

Strategy is the key to success for any business venture. Organizations work out different strategic models before making important decisions.

What is it that drives successful strategy?
How are organizations going to scale up to the big picture?
How are organizations going to cater up to the challenge of coming up with different strategies for developed and developing market.

Ram Charan gives insight about “Sharpening Your Business Acumen” to answer these challenges ahead.

A company’s strategic choices are made today, without the benefit of knowing the future. Leaders have to be comfortable making decisions with unknown factors; survival depends on those choices producing viable outcomes whatever may happen.

The ability to construct and act upon the mental model of the big picture requires plenty of practice. The essence of the skill is to find patterns from among a wide variety of trends and to posit the missing ingredients that could catalyze convergence. Many great leaders began to practice this exercise when they were younger, in less complex contexts, and over the years they have developed the requisite skills and judgment.

Trends that may at first seem disparate are not unrelated; they must be considered in combination. Executives must learn to fill in the gaps and to iterate this mental process until a complete picture comes into focus. And the way to do that is not only to consider the direct effects of change on an industry and a company, but also to rethink the changes through the lenses of other industries and other players.

To download the complete article click here

No comments: