Strategy, risk and other mythical creatures

There are seemingly endless perspectives on the concepts of strategy and risk management to the point that if you were to ask 10 different consultants, you’d likely get 10 different answers. Popular ideas become mainstream, not necessarily because they are proven to be the definitive solution (3LOD?!) but because they are easily understood and generally make business sense.

In an effort to define the somewhat murky and undefinable, tools, templates, forms and systems are developed in the hope of ‘simplification’. Before long an industry is born defining a state of ‘best-practice’ that doesn’t really exist.

Appreciating that this will add yet another voice to this already crowded space, we’d offer up a view that is perhaps a little simplistic, but cuts to the heart of the matter with two definitions/questions.

🦾Strategy – how are we going to win (the markets we will operate in, the goods or services we will sell, and the customers that we will sell to)?

🛡️Risk – what’s going to stop us from winning?

This will no doubt outrage the purists, but when an organisation is trying to operate at a furious pace with too much to do and not enough resources to do it all, a little simplicity can sometimes be a welcome reprieve.

Giving a name to these monsters only defines the problem and doesn’t provide the means for integrated execution, but agreeing on what it is that you are trying to solve for can be half the battle.

Contact ⚡Virtus Advisory⚡ to discuss.