Here are some thoughts on the topic 🏵️🏵️

In my opinion, the most effective approach to strategy development is a combination of the top-down and collaborative approaches. While the CEO and top management should hold the final responsibility for strategy, it is important to involve employees at all levels in the process. Employees are often the ones with the most intimate knowledge of customers and operations, and their input can be invaluable in developing a strategy that is both effective and feasible.

One company that exemplifies this approach is Samsung. The CEO and top executives are responsible for setting the overall direction and priorities for the company. However, Samsung has also developed a cross-functional team approach to strategy development, where employees from different departments and levels come together to collaborate on the company's strategic initiatives. This approach has allowed Samsung to tap into the collective intelligence of all its employees, resulting in more innovative and diverse ideas.

In addition, it is important to create a culture that encourages strategic thinking and collaboration. This can be achieved through training and development programs that help employees develop their strategic thinking skills. Companies can also foster collaboration by creating cross-functional teams and encouraging open discussion and debate around strategic ideas.
Finally, it is important to recognize that strategy is not the only critical aspect of a business. While it is important to have a clear and compelling strategy, companies must also prioritize agility and responsiveness to changing market conditions. This can involve experimentation and innovation that allows the company to adapt to new trends and challenges.

Overall, a holistic approach to strategy development involves a combination of top-down and collaborative approaches, a culture that fosters strategic thinking and collaboration, and a commitment to agility and responsiveness in the face of change.
⏭️⏩