- a plan of action or policy designed to achieve a major or overall aim.
“time to develop a coherent economic strategy”
Strategy is a general plan to achieve one or more long-term or overall goals under conditions of uncertainty.
SUGGESTED STRATEGY READS
A good strategy provides a clear roadmap, consisting of a set of guiding principles or rules, that defines the actions people in the business should take (and not take) and the things they should prioritize (and not prioritize) to achieve desired goals.
In a nutshell, mission is about what will be achieved; the value network is about with whom value will be created and captured; strategy is about how resources should be allocated to accomplish the mission in the context of the value network; and vision and incentives is about why people in the organization should feel motivated to perform at a high level. Together, the mission, network, strategy, and vision define the strategic direction for a business. They provide the what, who, how, and why necessary to powerfully align action in complex organizations.
Strategy is where you will focus your efforts to achieve your goals, and how you will succeed—or, “where to play and how to win.” It defines a specific course of action that will take you from where you are now to where you want to be.
I see a lot of strategies that resemble missions, visions, or BHGs (big hairy goals). (Please bow down to my stellar consultant speak.) If a strategy statement is too all-encompassing, you get caught on the hamster wheel of trying to do everything all at once, which often results in a lot of busy work. In fact, one of strategy’s primary roles is to set constraints on the work you’ll do.
“Our goals can only be reached through the vehicle of a plan. There is no other route to success.”
– Pablo Picasso
DIG DEEPER DISCUSSION
How did Denny use strategy on the racetrack? In life?
When they say “it doesn’t rain on him” how do you think strategy fits into that comment?
What strategy did Enzo use to get Denny’s attention?
What quotes from the movie can you use to inspire yourself?
“Denny always said the best drivers focus only on the _______, never dwelling on the _______, never committing to the future. ______ must come at a ________ _________.”
Why do you think it is important to record your work (racing, public speaking, sports, dancing) and go back and study what you did?
Balance, anticipation and patience are essential to strategy. Why?
“I know this much about racing in the rain. I know it is about balance. It is about anticipation and patience. I know all of the driving skills that are necessary for one to be successful in the rain. But racing in the rain is also about the mind! It is about owning one’s own body. About believing that one’s car is merely an extension of one’s body. About believing that the track is an extension of the car, and the rain is an extension of the track, and the sky is an extension of the rain. It is about believing that you are not you; you are everything. And everything is you.”
― Garth Stein, The Art of Racing in the Rain
FIND A FAVORITE QUOTE
Find your favorite strategy quote and place it somewhere that you will see it every day. Your computer, your mirror, make a graphic you can print and hang on your wall, be creative and turn it into a piece of art!
“However beautiful the strategy, you should occasionally look at the results.”
“Strategy without process is little more than a wish list.”
“Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.”
“In reality strategy is actually very straightforward. You pick a general direction and implement like hell.”
“Strategy is a fancy word for coming up with a long-term plan and putting it into action.”
“Success is 20% skills and 80% strategy. You might know how to succeed, but more importantly, what’s your plan to succeed?”
“There’s only one growth strategy: work hard.”
“Always start at the end before you begin.”
TEST YOUR SKILLS
Our big competition for the month is all about STEM! Athena Racing is kicking off Engineering Week in San Diego on Feb 22nd at 4pm with the WEareSTEM.org pre-conference.
Who is WEareSTEM? We are!
We’re going to have the capacity to host 500 girls from across the USA during our pre-conference. Our pre-conference will be followed at 5:30 by the San Diego County Engineering Council Awards Ceremony.
WHAT DO WE NEED?
Create the outstanding “WE are STEM” marketing package to publicize our pre-conference that is kicking off Engineering Week hosted by the San Diego County Engineering Council on February 22.
Your package will need to be submitted by January 31st
You will need to create branded material that we can use on our website and social media channels to promote the conference. Our branding style guide lists the colors and fonts to use. You can use logo 1, logo 2, logo 3 or logo 4.
Click here for: BRANDING STYLE GUIDE
Your package should include:
- Video (60-seconds or less)
- Flyer (8.5×11)
- Graphic (square)
- Social Media post (blurb, hashtags, links)
- Extra points: Write a blog (500 words)
Items to include in video, flyer, graphic and post:
- WE are STEM pre-conference (as a title)
- Register at AthenaRacing.org
- February 22 from 4 – 5:30pm PST
- Female students only in middle school and high school
Can also include:
- In celebration of Engineering Week
- Hosted by the Award-Winning STEM Education Program, Athena Racing
The Board of Directors will vote on their favorite using these criteria:
- Smart & Classy
- Athena Branding
1st place will receive a $100 Amazon card.
2nd place will receive a $50 Amazon gift card
3rd place will receive a $25 Amazon gift card
This contest is open to members only. All members who participate will get 10 points, outstanding submissions will receive an extra 10 points, the winner will receive 30 points total.
You have to be a member to compete in contests and amass points. The leaderboard will be updated weekly showing all material that has been received by the deadline and approved by the executive team.
You can ask for guidance as you work on your project, as you would with a manager at your place of work, in order to submit a gold star submission. The cutoff for guidance is January 27th. The executive team may ask you to make corrections after your final submission.
Submit all of your files – video, flyer, graphic and social media post wording – by following this link.
There are 22 of these words in the puzzle. It’s up to you to find out which ones are hidden!
TIME TO PLAY!
You are a stock investor, and your goal is to be the wealthiest stock investor at the end of the game. Thus, you have to acquire shares in businesses, investing and reinvesting to increase your portfolio. This means you are likely to be involved in trading, and mergers and acquisitions.
How Acquire Teaches Strategic Thinking:
Acquire teaches you the importance of timing, coupled with patience. This goes beyond the basics of teaching the basics of trading (ex. buy low, sell high). Investing in companies is not something that should be done randomly, because you have to choose the right time to invest in order to maximize your profit. Just because you have money to invest does not mean you should do it right away, because there is a right timing for everything.
Acquire teaches you about money management. Aside from investing, you will also learn when to spend and what to spend your money on, even if it’s not necessarily buying up stocks of companies.
A strategy board game of diplomacy, conflict and conquest. Played on a board depicting a political map of the earth, divided into forty-two territories, grouped into six continents
How Risk Teaches Strategic Thinking:
Risk teaches you to recognize a chance or an opportunity when it arises. Even as you await your turn, you have to keep your eyes peeled and use your powers of observation in order to assess how your opponents’ moves will be beneficial to your goal of global domination.
Risk teaches you to identify beneficial alliances and how to build and nurture them, all to maintain a balance of power. In a business environment, you will find yourself in relationships with co-workers, supervisors, and clients. Naturally, you’d have to know which relationships would be more beneficial to you in the long run, and Risk can give you some practice on how to do that.
The board is basically a map of the island of Catan where you and the other players are the settlers. Your goal is to be the dominant force on the island. Roll the dice to collect resources and use what you earned to build settlements, establish cities, and create roads.
How Catan Teaches Strategic Thinking:
Catan teaches you how to manage your resources well. Most employees have resources, but they don’t know what to do with them in order to make them grow. And it teaches you to be more aware and analytic about your environment. The island is filled with resources ranging from the seemingly worthless to the most beneficial ones. Your awareness will definitely grow as you become more observant, and you’ll be more open to critical and deep thinking in analysis of your environment, especially on how the resources can be of use to you.