Of all the overused and misunderstood terms there is little doubt that Strategy is the most often quoted. Retail-Remedy has worked with some large retailers who surprisingly would not be able to articulate their Strategy but have merely fallen into the business path on which they tread. Red faces have followed questions about the direction and they only get redder when asked about the customer imperatives that have guided that direction. Yet in truth Strategy should be one of the easiest things to do in business, small businesses started usually in a response to a perceived need, understanding the continuance and evolution of that need is fundamentally what Retail Strategy is.
In a recent magazine article for Furniture News (Retail Strategy) we articulated the need to have Strategy agreed, with the key stakeholders taking responsibility to ensure that the picture painted of the goal is exactly the same for all concerned. Too often the goal is one persons dream and another person’s half dream or nightmare. For small businesses, without Non-Executive Directorship, this requires an objectivity that comes from a business consultant or trusted advisor. We suggest that this is an important choice as the person selected must be able to be objective, challenging and fearless. If they feel that gainsaying the perceived wisdom in the room will jeopardise their position, key arguments will be lost and the Strategy will evolve weaker.
When the Strategy word is used and you see your colleagues eyes roll to the back of their head and a flop sweat develop on the business leader, then look around the room and determine who will be the brave person who says the emperor has no clothes. If you cannot see that person and are willing to challenge why he is not there, then look no further he has been found, it is you !
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