Strategy Is Partly Proactive and It Is Partly Reactive
1. A company's strategy is usually a blend of (I) proactive actions on the part of managers to increase the company's market position & financial performance & (II) as-needed reactions to unanticipated progress & fresh market environment.
2. A Company's Actual Strategy is partly proactive & Partly Reactive, shows the typical blend found within a company's strategy.
3. The biggest part of a company's current strategy flows from previously initiated actions & business approaches that are running fine enough to merit continuation & newly opened managerial initiatives to strengthen the company's whole position & performance. This part of management's game plan is deliberate & proactive.
4. Not every strategic move is the result of proactive plotting & deliberate management design. Things do happen that can't be fully expected or planned for.
5. The part of a company's strategy is always built on the fly. It comes about as a reasoned feedback to unforeseen developments.
6. crafting a strategy involve stitching together a proactive/intended strategy & then adapting first one piece & then another as condition surrounding the company's situation change or better options emerge - a reactive/adaptive strategy.
7. A Company's Strategy Emerges Incrementally & Then Evolves Over Time:- A company's strategy should at all times be looks-like as a work in progress.
8. On incident, fine-tuning the existing strategy is not enough & key strategy shifts are called for:-
(a). When a strategy is unambiguously worsening & the company is facing a financial tragedy.
(b). When market conditions or buyer preferences change significantly & new opportunities occur.
(c). When competitors do something unforeseen.
(d). When important technological breakthroughs arise.
9. Some industries are more unstable than others.
10. Industries environments characterize by high-velocity change need rapid strategy adaptation.
11. Regardless of whether a company's strategy changes gradually or quickly, the main point is that a company's strategy is provisional & on trial, pending new ideas for improvement from management, changing competitive setting & any other modification in the company's situation
CORE CONCEPT:- Changing circumstances & current management hard work to develop the strategy cause a company's strategy to emerge & evolve over time - a situation that formulates the task of expertise a strategy a work in progress, not a one-time occasion.
CORE CONCEPT: - A company's strategy is driven partly by management analysis & choice & partly by the necessity of adapting & learning by doing.
12. Crafting Strategy Calls for first-class Entrepreneurship: - The constantly evolving nature of a company's situation place a premium on management's capability to show astute entrepreneurship
13. Masterful strategies is come partially, maybe mostly, by doing things in a different way from competitors where it counts.
14. Good strategy building is indissoluble from good business entrepreneurship.