March 3-9th: Strategy Is All About Practice

This article (http://blogs.hbr.org/cs/2013/02/strategy_is_all_about_practice.html) is called Strategy Is All About Practice. It talks about effective strategics when it comes to doing what is best for your business and leading your team. It mentions that most importantly, you must understand that business is not completely random, and that you can plan for what is in the future if you utilize your time properly. While many people think that its best to delay making choices so that you keep your options open, the article argues that it might be in everyones best interest to actually make decisions sooner so that you can focus in on your one choice. There are 3 main point which the article focuses on in order to strategize effectively. Firstly, since the first part of being an accomplished strategist is belief, the second element is to continuously work as much as you can. By doing this, you outline your own personal morals and values and then further these beliefs by working or practicing what you believe in, so that you gain experience doing so while advancing yourself and building up your knowledge. Also, helpful practice in strategy meas setting our your personal logical thoughts before making your final decison. This involves a lot of planning and strategizing beforehand so that you can make the best decision when the time comes. This means not only thinking about it in advance, but actually writing down what you plan to do. If you dont write down your logic in advance, you will convince yourself that everything worked out in the right way even though you just settled for another option. In conclusion, accomplished strategists realize that they can succeed despite not knowing certainty because they have the ability to lay out their logic and plan accordingly.

I don’t agree with this article because I feel like it contradicts itself, mainly by saying that firstly its good to keep your options open, then going on to say that its better to pick one option and plan around it. Also, I feel like it works best for me to keep my options open rather than narrowing my focus because you will end up limiting yourself in the long term, and furthermore, you also lessen your exposure to newer ideas in the long term. This is part of our BOH course through Planning and Controlling – Strategic Planning – Describe types of Strategic Plans used by specific organizations.

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