Strategy has its own language – complete with buzzwords, and jargon. That is fine if you are playing scrabble, but managers don’t run their businesses with a dictionary on the desk.
Here is a selection of some of the most popular strategy buzzwords:
Use as many of these words as possible in your next meeting and watch how eyes glaze over! The challenge is that while managers need to be more strategic, that does not mean that they have to become less plain speaking. Indeed, the opposite is true.
Great strategies are easily communicated and clearly understood – otherwise they have no hope of being successfully executed. With simplicity in mind here is another way of defining strategy:
Or here is a fuller definition of the essence of strategy:
Strategy when distilled to its essence is about success, winning and growth. More to the point it is about how your organization (business unit, department, function or team) will win, succeed and grow. It does not get much clearer than that!