We would like to introduce you to our concept of strategy, as this definition will define the whole case analysis process. We define strategy as:
“Creating the vision for the ideal state of where the business wants to be, and identifying the series of analytical and impactful actions to transform a business from where they are currently, to their ideal state”.
This means that regardless of where a business is currently positioned, in terms of profits, resources, age, etc. the strategy is the plan of action of how they can transform any operational section of the business necessary to get to their ideal state. Consequently, when developing your strategy you should not necessarily focus on what the business is good at doing at this point in time and try to maximize that leverage point but transform any section necessary to achieve the ideal state. We deem every problem “figure-out-able”, hence why we substitute actionable for achievable in the SMART Goal. Setting the ideal state limits the amount of extra work the business needs to do, because they will only be focusing on accomplishing what is a necessity to reaching the ideal state. It is therefore, and lean strategy. To put it in a human context, imagine you are incredibly talented in accounting. Your career is skyrocketing, and you are up for promotion next quarter. However, after some reflecting you realize that you have a passion for finance and want to switch careers to become an investment banker. Would you tell yourself, “I do not want to do what I want because I am already good at accounting”, and not make the switch? Of course not. It is the same for a business. If the business is skilled at something in particular but it is not it’s ideal, it should not continue with this procedure. The business can use it as leverage for monetary gain or to advance themselves to the ideal state, but they should not stick with something they do not want to do.
