Every strategy is based upon a set of assumptions, some of which prove to be true and others false. Those assumptions play out real time, each and every day.  Now that you are half-way through the calendar year, you may find the need to reality check your current strategy.  At Corona, we define strategy as a coordinated series of actions.  The operative words are coordinated and series. Are you engaging with your strategy in real time? 

  • Which of the assumptions underpinning your current strategy are no longer valid? Which assumptions are foundational?
  • How are comparators and competitors responding to opportunities? To threats?
  • Have conditions changed significantly enough to warrant a new strategy or will a tune-up suffice?
  •  If you changed your perspective on the situation – reframed your thinking so to speak – might a new approach reveal itself?
  • What options are available to you?  What will you recommend?
  • How will you engage your staff and board leadership in making the necessary adjustment?

Strategy is a team sport.  So gather your strategic thinking colleagues around you and wrestle with some big questions.  Then act. Reference:  “Stress-Test Your Strategy:  The 7 Questions to Ask,” by Robert Simons.  Harvard Business Review, November 2010.