But what does that look like for your business?
When you manage your strategy, you gather information about your organization, examine the environment in which it works, and determine your goals for the future. Some questions to ask are:
- What will be the next big thing that will come along?
- How can I prepare myself to meet those challenges?
- What do we have to do now so we can be ready?
- What are the changes I will have to make?
- What are the things we need to make better in all areas of our organization?
As you can tell from the suggestions above, strategies can (and should) shift because of predicted or unforeseen complications. When companies consistently revisit and reflect on their strategic plan, they are more capable to make quick pivots while still adhering to their vision. Although this is the case, companies infrequently schedule time for strategic thought and positioning due to it not being as satisfying as working on the here-and-now. Scheduling regular time for strategic thought and positioning might feel strange, but in the long run it prepares you for your future.
Alternatively, project management contributes to a longer-term strategy, but the outcome is far more immediate and task-based. While strategy is big picture, project management focuses on a specific operational goal (which can be an individual project or a long-term action item) and is deadline-driven, action-type oversight.