A technical strategy for moving an organization forward takes into account the areas that you can take advantage of in a technological complex environment, while at the same time minimizing risk for those areas that you cannot control. While risks are ever present – cyber security, technical advancement, hardware, software, etc., being prepared for those risk when the inevitable happens, is what sets sustainable firms apart. Being prepared for opportunities, when they arise, is what sets successful firms apart.
So often, we address strategic planning as an academic exercise that seeks to define what we should do as an organization; but we also must realize, some activities are moving us forward and some or not. Some activities may be worthwhile, but they are not strategic. Some worthwhile endeavors do not positively impact the organization. Determining abilities of the organization and how those abilities can be turned into an advantage is key to defining a strategic initiative. Just as important is to find out what an organization is incapable of accomplishing and mitigating the risk associated with that inability.
Strategy isn’t a scary process. It takes maximizing opportunities and minimizing risk to achieve success.
What are your strategic Initiatives? Do they maximize opportunities and minimize risk?