From an interesting HBR paper by Amar Bhide
Where do I want to go? (quick profits or generate a satisfactory cash flow or capital gains)
1. What kind of enterprise should I build to reach there?
2. What risks and sacrifices to such an enterprise demand?
3. Am I ready to take such risks and sacrifices?
How do I get there?
1. Do I have a strategy in place?
2. Is my strategy well defined?
3. Can my strategy generate the desired sufficient profits and growth?
4. Is my strategy sustainable?
Executing the strategy ~ can I do it?
1. Do I have rights resources and relationships in place?
2. How strong is my organization? (structure, infrastructure, norms and values)
3. Can I play my role? (need to evolve from doing, to make others do, prescribing desired results and eventually managing the overall context)