Wednesday, May 19, 2004

Strategy and Strategic Planning: (Henry Mintzberg)

I really like Henry's work in strategy and planning. These are the excerpts of some intersting points he made in an article I read recently.

Most successful strategies are visions not plans.
Strategy making process - capturing what managers learn from personal experience and experiences of others and the hard data from market research, and synthesizing that learning into a vision of the direction that the business should persue.
Does not involve formanl techniques.
Planning represents calulating style of managment and not commiting style of mangment.
Learning plays the most crucial role in the development of novel startegies.
Business unit managers should take full and effective charge of strategy making process.
Planners: Ask the right question ? Dont try to find out the right answer.
Strategy making process should not and cannt be formalized. Formalization hinders creative thought process, which is the the most essential part of Strategy making.