John Lee Dumas from Entrepreneur on Fire (on of my favourite podcasts) always talks about: FOCUS:
Following
One
Course
Until
Success
When it comes to business strategy, FOCUS is taking the time to outline which activities and projects will advance the things that you want (your vision, mission, strategic priorities and goals) and leave the rest alone to maximize your time and resources.
While I agree that it's important to keep your eyes and ears open for opportunities for growth, it is equally important to run those opportunities into the selection criteria, i.e: Is this going to support my mission or vision, and goals, or not?
Many smaller organizations can shift their focus to another opportunity and chase it relatively quickly. I look at them like a speedboat: fast, nimble, and adaptable to change.
On the other hand, mid-sized and larger businesses and professional organizations are less agile and more like big tankers: slow, expensive, take a lot of coordination, but carry lots of payload (benefits/impact).
It's especially important for mid-sized and large organizations to know which way they are headed and plan their movement in advance. This will contribute to their success and progress because of because their teams will be coordinated and prepared in advance. It's not to say you can't ever change direction, just that it should be done purposefully and strategically.
One of the most valuable parts of the strategic planning process is to outline the mission, vision and goals of the organization to ensure that the whole team is aligned and laser focused on the steps that need to be taken to achieve those goals. Without focus and a clear business strategy, an organization could be wasting time and resources by unknowingly moving in opposing directions.
Include focused goal setting that cascade up to your mission and vision as part of your strategic plan, and you'll achieve greater focus and progress with your team!
