Having been processing the concept of marketing strategy during the ongoing autumn due to our course on destination marketing, the concept of strategy has been wandering in my mind. What does it actually mean and how important is it for a (tourism) company?
Applying the concept of strategy
In his book Valonöörin käsikirja (A lightneer’s guide) Frank Martela poses the questions What are our goals, what things are worth doing? and What can we do to reach our goals? as the central questions about the human life. He also points out that too often we do things that we didn’t actively choose to do. Too often we spend time on social media or Netflix though our goal is to do sports and be physically in a good condition. Or maybe we feel pressure to do certain things or maybe we just accept them because that’s how people always have done them. I think these questions and thoughts can be applied to business strategies as well.
During our course on marketing it was highlighted how important the mission, vision and values of the company are when creating a strategy. Another author and teacher Jim Collins reveals in his book Good to Great ways to develop a good company into a great one, based on a broad research. One of the core findings is to first find the right people around you, to keep them around you and then to “figure out the best path to greatness”. Also because with the right people you can more easily face changes in the changing world: “if people are on the bus because of who else is on the bus, then it’s much easier to change direction”. This can also be seen as a value-based approach: when there’s a group of people who share the same values and hopefully the same mission, it’s easier to set the direction.
Don’t get stuck to the word: it’s about the content
Wikipedia, tells that the word ‘strategy’ derives from the Greek word stratēgia and the original meaning would be something like “art of troop leader, office of general, command, generalship” and that a strategy is a “high level plan to achieve one or more goals under conditions of uncertainty”. The other week I also had the chance to hear some thoughts about marketing from Timo Kiuru, who works as a creative director for different companies. In his opinion the term ‘strategy’ shouldn’t be used at all. He still stressed the importance of values and to on a weekly basis check if you have been acting according to your values.
It was a very inspiring speech and I also agree that we shouldn’t get too stuck to the word itself or think that if there’s some kind of a strategy, everything will fall into places. The importance of the content of the strategy, the goals and actions have to also be highlighted: a strategy is no use if it’s not concrete, applicable and if it’s not applied. For a company it’s quite essential to define some sort of a strategy. If there is a high level plan with at least some values or core thoughts that are important and/or motivating it can’t go very wrong. Also, possible changes in the plan don’t necessarily mean it was wrong in the first place.
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- From Marketing Strategy to Values Strategy - November 26, 2017