Know your strategy or be lost at sea

If you can cut through the fluff surrounding strategic planning your business will thank you. Just as important is considering the strategy of the family behind the business.

For more than a generation, business strategy has been the holy grail of management theory and practice. An entire industry has grown to promote and explain the strategy imperative. By appending the adjective ‘strategic’ to them, even the most mundane business functions (and those who look after them) can be immediately elevated to a higher plane. Yet it is hard to escape the conclusion that this obsession with strategy often delivers less than it promises.

At the same time, a business without any semblance of a workable strategy looks like a ship at sea sans rudder and compass – both will find it difficult to stay afloat, let alone reach their chosen destination.

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