Is your Strategy up to date?

For awhile my husband and son have been telling me I should put my “sports commentaries” in a blog post. This refers to my comments during various sports they are watching while I am waiting for the game to be over so I can watch something else! Before you write me off as a nut, I do like watching sports, just not some of them and I prefer being at the game. When you are waiting for a game to be over, it seems to go on forever. So during the time outs, I provide my comments: gee, is the coach telling them to hit more home runs, get more baskets or touchdowns? I know it is not that simple. But I also don’t like the way time outs make the game so much less spontaneous!

So here is a sports analogy. These sports teams are taking time out to strategize when something is going wrong. When a business is struggling, they usually regroup and try to figure the best strategy to resolve the issue. Sometimes this results in a knee jerk solution versus a strategic solution.

We all know change is constant, so review and analysis of changes in the industry, market, opportunities, trending and competition should be an ongoing part of the business. And this analysis should bring about new strategy to stay on top of the market. So just as in sports, business needs to change direction as external and internal events effect the business. In the past, annual strategic planning worked for businesses, not anymore! While change is constant, strategic planning and thinking must be ongoing.

While I get frustrated with the interruption in games caused by changing strategy, I think frequent strategic planning in business is not an interruption but a valuable, necessary part of business. And of course, as in sports, the strategy must be interpreted into what needs to be done to meet the new goals. The question must be asked often, are we doing the right things now to ensure ongoing success?

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