Strategy is one of the most overused words in business to the extent that it started to become meaningless. A number of years ago, LinkedIn published a list of buzzwords and strategic was the second most overused word on the list. This should be troubling because companies need strategy more than ever before. Yet, there seems to be a lot of confusion on what strategy really is. And that leads to lack of strategy in most instances. As a matter of fact, Michael Porter, one of the leading strategists in the world, claims that most companies don’t have a strategy.

Strategy is not a vision, or a mission neither an aspiration. Although, some CEOs may say it is their strategy to become the best in their respective fields, but that’s not a strategy. Strategy is also not technology, like implementing AI or becoming a cloud business. No organization gains competitive advantage from letting technology lead strategic visioning. Companies and their leaders that believe in that, end up in parity.

So, what then is strategy?

Strategy is guidance to an organization on a desired end-state, that puts the company at an advantage over its competition, how its resources should be allocated to achieve that state, and which decisions are needed to accomplish it. A good strategy offers a differentiated position, a roadmap to get there and clear guidance on what choices people should make, which actions they should take AND not take, what to prioritize vs. deprioritize and what capabilities they will need.

Murat Bicak has developed winning strategies for organizations of all sizes, from business units in the chemical industry to corporate strategy for online education companies to innovation teams working on patented technologies or consumer products. He will bring years of experience and research to help you clarify a clear strategy that connects to and supports your organization’s purpose, and one that easy to communicate to your employees.

Strategy development is one of the most critical activities for any business. Unfortunately, in most organizations, it turned into an annual powerpoint exercise. If you’re looking to implement a robust strategy development process, or need advisory on your strategy , we invite you to contact Murat to discuss.