The answer to that question is VERY IMPORTANT. It matters in whatever kind of business you are running. Seth Godin says in Strategy matters more than ever, “When everyone is playing the same game, your execution is critical.” But he points out that how well you execute may not be sufficient. Basically he asks the question how important is strategy?
He answers it by saying “…the revolution of the web means that the way you go to market, the structure of your offering, the model of your business–these are sufficient to cause you to lose, regardless of how you play the game.” This applies not only to selling products and services but also to acquiring talent. In today’s world where talented people are what make a company successful you have to have the right strategy to attract, hire and retain. If you have not adapted to changes in the methods used to find talent today then you are behind the curve. As Godin says “Running a business with the wrong strategy in the wrong place at the wrong time is possible, but it’s an uphill battle.”
You need to think very hard about your model, what you offer to attract people; the costs associated (in cash and effort) and make the changes in your strategy that will get you the talent you need to implement the organizations competitive strategy. If you think that what you have always done will continue to work, think again. As Godin concludes his post “Not changing your strategy merely because you’re used to the one you have now is a lousy strategy.”
To that I say a big “AMEN.”
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