When it comes to strategy, the force should be with you, says a Harvard b-school professor:
“Talk about strategy as the animating force of a company, the energy that directs everything that a company does.”
Montgomery has formed new thoughts about strategy based on years of teaching and coaching global business executives. She writes:
“I came to see that we cannot afford to think of strategy as something fixed, a problem that is solved and settled. Strategy – the system of value creation that underlies a company’s competitive position and uniqueness – has to be embraced as something open, not something closed. It is a system that evolves, moves, and changes.”
The professor advises executives to consider four basic questions when it comes to strategy:
- What does my organization bring to the world?
- Does that difference matter?
- Is something about it scarce and difficult to imitate?
- Are we doing today what we need to do in order to matter tomorrow?
Watch Montgomery discuss why strategy needs to be reimagined. Continue reading