Leadership Transitions: The Watkins Collection (4 Items)

The Turnaround Challenge 147

to assess existing strategies and develop new ones, it’s all too easy

for them to get mired in semantics: Are we talking about mission,

or vision? Are we really debating strategic options, or just talking

tactics? Should we devise a strategy for the business as a whole, or

for specific functions such as marketing or R&D?

When it comes to defining good strategies, certain things are

clear: They create value for customers and capture value for

investors over the long term. They are powerful simplifications

that, when communicated effectively, provide clarity, focus, and

alignment across the organization. They leverage and enhance the

organization’s core competencies. They respond to challenges and

create opportunities in the external ...