Yinka Olaito is happy,excited and passionate Communication specialist, Social Media expert, Trainer and speaker. Yinka Olaito helps brands(Profits and Non-profits)with effective communication and positioning for premium service delivery and returns. Yinka Olaito also has special interest in Development Communication and has consulted for noted UN Agencies. Yinka Olaito is the CCO of Michael Sage Consulting(Communication/digital media), African Child Education Right Initiatives(NGO) and Content Director, Africa Development Talk( online Platform for discussion on Policy, Governance, development across Africa)
In the previous article, we started a discussion on the force of shaping strategy. This will be the concluding part for now until further notice. We need to note that not every brand is cut out to engage in shaping strategy. To engage, brand must consider the following and be convinced that answers given are adequate.
1. Powerful, foresighted CEO and directors: Not every brand is blessed with powerful, foresighted CEOS. If the brand’s CEO is only concerned about present or immediate gain and demands immediate ROI on every investment, it may not be good strategy for the brand to engage shaping strategy.
2. Risk profile: Brand must also assess risk profile of engaging in shaping strategy. Any brand that is not comfortable with risk taking can not engage in shaping industry focus. It takes a large hearted brand to determine the trend of any market.
3. Management capabilities: Shaping strategy requires strong management capabilities to weather the storm otherwise blames, excuses will become the order of the day along the line. This will be accompanied with mudslinging, apathy, lack of necessary commitment to follow through.
4. Right aspiration: shaping strategy must get the facts rights by identifying the opportunities before the journey begins. The opportunities often give necessary morale when the tide starts blowing.
5. Determine the role to be played: There are several roles each brand can play in shaping strategy. That calls for true assessment of brand’s capacity. None of the role is devoid of any benefits. There are three roles: Influencers, as influencers the brand commit early and prominently to one shaping strategy and it usually gains strong market position. As hedger, the brand develops its products and services to support multiple shaping platforms. As disciple, the brand commits to only one shaping strategy.
The followings are some of the advantages of shaping strategy. It gives brand credibility and projects a long term commitment of the strategy designer. Shaping strategy also helps to define the industry standard.
On the last note, if a brand continually adapts, it shows that there is an absence of innovation and creativity. Adaptation strategy often misses the real opportunity.