Thought Leadership Articles
Creating Business Strategy: To Thine Own Business Be True
By Jeffrey A. Jolton, Ph.D., Kenexa
"To thine own self be true, and it must follow, as the night the day, thou canst not then be false to any man.”—William Shakespeare
When deriving strategies and objectives for their organizations, are leaders really taking the time to think about what is right for their businesses? Certainly some leaders do a great job of creating a unique focus and direction, a true vision, for their businesses. Others, however, seem to be falling into a trap that suggests there is some “one best answer” out there—that some magical formula for success lies just next door.
Evaluating the competitive landscape is nothing new, nor something that should be discounted. It is important to learn from the successes and failures of others, both within our industry and others. Comparisons to critical statistics are vital to helping make informed decisions. Looking at patterns and trends allow businesses to be alert to threats and create opportunities. Knowing where one’s business stands can help define where it should be.