 | From the Editor's Desk
Does Your Strategy Have a Spine? To clarify their strategy and communication around strategy, executives should create a simple document called a strategy spine. They should begin by imagining, as if they were an independent reporter, their company about five years into successful future. What would that success look like? What choices made it possible? Then, based on this imagined future, they can fill out the six elements of their strategy spine: planned sources of revenue, key operating assumptions, key goals, revenue implications of those goals and assumptions, investments needed, and additional infrastructure needs. The strategy spine should never be regarded as a completed work, but rather a living document to be modified as conditions change.
For all the ink spilled on the concept of strategy, it continually proves to be a surprisingly slippery idea. In practice, leaders often struggle to define and communicate strategies to their team. In their 2008 article, “Can You Say What Your Strategy Is?” David Collis and Michael Rukstad don’t mince words: “Most executives cannot articulate the objective, scope, and advantage of their business in a simple statement. If they can’t, neither can anyone else.”
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