Knowing who is Responsible

So whose job is it to watch out for hazards and opportunities and assess the potential effects of new competition and changes in the wider economy? Usually, strategy is seen as the preserve of a business's leaders, and while it's true that good strategists often achieve senior management positions, monitoring organizational strategy can, and should, involve people throughout the organization. Your salespeople, for example, may be best placed to gain information about the market (the best source of competitor knowledge is often your own customers). Similarly, your purchasing staff may have advance warning of price increases in key raw materials. Find ways to collect such knowledge and use it to inform your strategy.

Ask the following questions to help focus on the future:

• Do i know what our customers (internal or external) are doing and what their future plans are?
• Do I know what our competitors are doing?
• Have I assessed whether there are any constraints that could affect our business in the next few years?
• Have I analyzed whether there are opportunities for my team?
• Do I know who is responsible for gathering information?

ACTION POINT: Encourage and incentivize everyone in your team to be aware of what is going on in your organizational environment and find ways to collate any information they discover.