Transition Series Part 2

Which Strategy is the Right Strategy?

Wait..you mean I should have a strategy? Yup. A person without a strategy is about as good as a business without a strategy, or as lost. In this case, the strategy that the business/role requires is going to determine how you focus your learning agenda and attention.

Watkins explains that there are 4 basic business strategies:

1. Start-up
2. Turnaround
3. Sustaining Success
4. Realignment

Basic knowledge of the business and/or position you are moving into should give you a general idea of what strategy is needed (new company = start-up, failing old company = turnaround, etc). The basic checklist you want to run through for assessing the business and how your strategy fits into the business strategy, follow below:

1. (obvious) What type of situation is the business?
2. Implications for challenges/opportunities that you will confront? Start-up's challenges include creating new systems, building a team, etc.
3. Implications for learning agenda? Do you need different amounts of time with each employee?Will you likely be letting some employees go?
4. Which of your strengths are going to your greatest asset? Of your weaknesses which will be the greatest liability?
5. Prevailing frame of mind? Are you going to be on the offense (start-up) or more defense (sustaining success)?

These are the basic questions and should be expanded on. The main idea of this section is to give some thought to what type of business you are moving into. Many managers have failed because they have brought a personal strategy that doesn't fit with the business strategy.