A good strategy is not cast in stone or just a document, but instead something that becomes part of an organisation's DNA.

To develop they first need widespread faith across an organisation that it will be worth the effort of realising and supporting. People need to 'buy into' the idea of developing, installing and refining an ongoing dynamic strategy; they need to feel they have a part in it. 

Good strategies then require widespread agreement from across organisational stakeholder groups on what their shared vision should be. This should be based upon a thorough appraisal of external and internal influencing factors. Essential here are good appreciations of what the organisation's core competences are, what the organisation's collective values are and how the organisation can differentiate itself, so as to stand out favourably in the eyes of its target markets or stakeholders.

What is the vision, set to be realised by a fixed point in the future, currently being striven for by the organisation? This is the primary strategy driver and it, in turn is based upon perceptions of values, strengths weaknesses, etc. as discussed elsewhere. 

Good strategies need to be dynamically appropriate to the organisations they are serving. They have to be able to learn and adapt to changes in the organisation's external and internal factors, with appropriate speed. 

Whilst not overwhelming management's need to get on with day-to-day, tactical decision-making, a dynamically appropriate strategy should be able to be adjusted, to reflect significant changes in the internal and external factors that impact the organisation. 

It is quite possible for example that one year a telecoms company my be striving to win £x million from selling services to users of mobile phones in 5 years and the next, to have revised its vision to be selling £y million of billing systems to mobile phone operators, or possibly even to no longer consider itself as operating primarily in telecoms.

To survive and thrive in volatile markets, such as telecommunications, companies have to review and adapt their strategies on a regular basis. 

More stable markets, such as for retirement homes merit less frequent strategic reviews, although there are still many potential external influencing factors that could radically alter the success or failure of various strategic paths, most notably, public policy. 

For businesses building and operating retirement homes, a single change in public policy, impacting tax breaks, health and safety or public finance, could radically change the dynamics of the marketplace.

Even businesses in seemingly stable environments have to be aware of potential game-changing threats and opportunities, and ready, if appropriate to either adjust or completely overhaul their strategy.

Any failure to adapt or overhaul strategies in line with changes in external and internal factors can lead to either a slow demise, or the 'systems shock' of rapid organisational failure.

Individuals across an organisation should ideally want to act as sentries on the look out for internal or environmental changes that may impact the appropriateness of the current strategy and then to report such information accordingly. The best way to ensure this is to ensure that people 'bought into' the strategy during its ongoing refinement.

A good strategy should shape how information is gathered, perceived, interpreted and managed throughout an organisation.