Defining Strategies in Order to Define
If you surveyed
some of the biggest names in consulting today, including Bain & Company,
the Boston Consulting Group, McKinsey & Company, IBM and the Syntegrity
Group, they would all highlight the importance of strategy when looking to gain
the competitive advantage in the world of business.
But what exactly is meant by the term "strategy”?
plans of action or policies designed to achieve a very particular end. In other
words, when properly elaborated, strategies can help organizations to develop
and meet goals related to such diverse things as launching a new product,
complying with newly outlined regulations, and achieving sustainable growth.
strategies provide a customized and evolving model or template for those
seeking to gain traction in their respective fields.
And one of the
reasons it’s so important to re-consider the importance of strategies is
because they anticipate and create that elusive and much sought-after
From Ideas to Implementation
It goes without
saying that strategies are only worthwhile when they are successfully
implemented. In other words, the very best strategy is the one that can be
realistically put into effect.
Unfortunately, for many organizations, the path from Point A (establishing a
goal) to Point B (developing an effective and actionable strategy to achieve
said goal) is often unclear.
strategies often fall flat. By failing to obtain the right buy-in and
assembling the right people, capabilities, skill sets, and talents, organizations
fail to achieve the desired results.
Given just how
much is at stake, it’s easy to see why just not any old strategy will do.
organizations frequently seek the help of strategy consulting firms to identify
opportunities for growth, produce innovative business models, and engage with
Choosing the Right Strategy Consulting Firm
With that in mind,
strategy consulting firms, such as Bain & Company and the Boston Consulting
Group, should be thought of as roadmaps, charting the best course from Point A
to Point B.
It’s important to recognize, however, that not all strategy consulting firms
are prepared to recommend the same exact route.
Firms such as McKinsey & Company operate along much more traditional lines,
employing the familiar "hub-and-spoke” model of problem solving. That is to
say, when faced with a complicated yet familiar challenge, consultants act as
the primary relays between management and employees. They build knowledge,
gauge the needs of their clients, and offer predetermined solutions to common
organization like Syntegrity Group is much better equipped to tackle
multidimensional complex challenges. Instead of the hub-and-spoke model,
Syntegrity Group utilizes the "many-to-many” approach of problem solving, which
harnesses the unique skills and abilities of key players in an effort to arrive
at a one-of-a-kind solution. Increasingly, this model is proving much more
effective in the elaboration and execution of strategies.
In the end,
regardless of which firm you choose, strategies are what turn problems into