Shutterstock

Why do we need a strategy to conduct business?

Well, that’s so obvious that no one would even ask the question, right?

Perhaps. But I have been asking it nonetheless. I am convinced it is a question that we must now ask more often in business if we expect to keep up with the pace of change and move forward. Because for many of the businesses I have been involved with — as a coach, consultant or manager — the strategies in use are beat up and tired. How much of a difference is traditional strategy making for your business?

I believe there are two direct answers to the question of why we need a business strategy. One comes to us from the economics classroom, the other, from the jungle.

The economics answer is that resources are finite. There is only so much available to work with and use in order to get what we want. The jungle answer is that somebody else wants what you want. And they will fight you to the death for it.

[Source”timesofindia”]