The world of business strategy is full of buzzwords with no actual meaning. To understand this, the MIT Sloan University actually created a Buzzword Strategy Generator which identifies such hollow terms and phrases. Instead, discussions on corporate strategy must be simple and to the point. To reiterate this point, an article has been published on the MIT Sloan Management Reviews where seven such key qualities of executable strategy have been listed. To start off, the strategic priorities must not be too many, as this only lists the ones with maximum output. Focus must be made on mid-term activities, as the long-term is difficult to predict accurately. All decisions taken must be with a view towards the future. One needs to take the hard decisions from this stage onward. Any critical vulnerabilities need to be properly listed out and solutions to the same addressed. Employees from this stage itself need the right guidance to execute the matter listed. Management training sessions could be introduced to weed out any team difficulties or technical vulnerabilities. The top team needs to be aligned towards the strategy formulated. This will ensure the least gap between the strategy and its subsequent execution.

Source:http://mitsloan.mit.edu/newsroom/articles/how-to-create-meaningful-strategic-priorities/?utm_source=mitsloantwitter&utm_medium=social&utm_campaign=buzz

Uploaded Date:08 November 2018