This definition is from Rob Millard at the Adventure of Strategy Blog in a recent post.

Successful strategy is not about a grand plan. Rather, it is an integrated process that prepares the organization for a range of futures by creating what I have previously called a state of “dynamic resilience.” This involves making smaller bets on a range of initiatives, rather than betting the firm on just one outcome and, as part of the strategic process, growing the firm’s resources and skills to be able to capitalize on opportunities that emerge and ward off threats. In other words, to adapt and evolve.

This is one of the best descriptions I’ve seen of what strategy is all about.

Strategic Planning is a necessity for any organization but most treat a plan as something that is static when in reality it is dynamic. Strategy must evolve and adapt to the current environment.

A good strategic plan should consist of not only a plan for the future, but also a strategy to deal with any changes that come along.

[tags] Strategy, Dynamic Strategic Planning [/tags]