Strategic Plan For A Strategic Strategy

857 Words May 4th, 2016 4 Pages
Strategic Article Why might a business need to have a strategic focus? Companies do not always realize the importance of a strategic plan. Some think they can just start a business and it will run itself. Educating their employees on strategic planning, and having a strategic focus is an important part of a successful company. As an executive of a corporation, it is their responsibility to demonstrate a strategic-minded approach. According to The Key to Becoming a Strategy Minded Executive, there are some executives that believe “if they set aside a few hours each week for uninterrupted thinking, they will have more and better strategic ideas” (Ibarra, 2015, p. 1). This is not true though, you need to connect with others in order to have a strategy. If you do not keep connected outside of your business, you could very well lose valuable information that could help you build your company. Connecting with other businesses and people is so important to bring in other concepts and philosophies.
The success of a business depends on a strategic focus and how the business stays up to date on current trends, as well as the needs of their customers. In order to give your customers what they desire you need to know the latest developments, and decide if that is an avenue you want to drive your business in. An executive constantly needs to be looking for the latest and greatest technologies to keep their company in the competition. They may need to re-assess their goals…

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