Every organisation needs a clearly articulated strategy. An organisation works towards achieving clear objectives. A strategy demands good planning, based on rigorous thinking and tough self-assessment. Organisations need to focus on long-term planning in which they define their overarching goals, direction and strategy. They need to identify the end results and work towards accomplishing them. Organisations are often reluctant to plan because they see the plan as a straitjacket, destroying their flexibility.

They fear that a plan will not let them respond to new opportunities and changing circumstances. Where they err is in viewing a plan as a taskmaster rather than as a tool. A plan only sets standards against which to measure your decisions and performance. Abandoning strategy leads to confusion within an organisation. Strategising is an important process in the functioning of an organisation. Once a direction has been set, it is easier to manage an organisation.

Whether the strategy is long term or not depends on the company and the industry. In some industries the pace of change is faster than it is in others. About four years ago, the Indian market was opened to foreign competition. Titan realised then that the Indian watch market would undergo tremendous change as it was moving from a reasonably uncompetitive era to an intensely competitive one. It was important to keep one's options open and to keep the strategy flexible. Every organisation needs a clearly articulated strategy.

An organisation works towards achieving clear objectives. A strategy demands good planning, based on rigorous thinking and tough self-assessment. Organisations need to focus on long-term planning in which they define their overarching goals, direction and strategy. They need to identify the end results and work towards accomplishing them. Organisations are often reluctant to plan because they see the plan as a straitjacket, destroying their flexibility. They fear that a plan will not let them respond to new opportunities and changing circumstances.

Where they err is in viewing a plan as a taskmaster rather than as a tool. A plan only sets standards against which to measure your decisions and performance. Abandoning strategy leads to confusion within an organisation. Strategising is an important process in the functioning of an organisation.

Once a direction has been set, it is easier to manage an organisation. Whether the strategy is long term or not depends on the company and the industry. In some industries the pace of change is faster than it is in others. About four years ago, the Indian market was opened to foreign competition. Titan realised then that the Indian watch market would undergo tremendous change as it was moving from a reasonably uncompetitive era to an intensely competitive one. It was important to keep one's options open and to keep the strategy flexible..