There are many things in an organization that a leader can and should relegate, but when it comes to strategy, the buck goes nowhere. It is the leader’s prime imperative to ensure the organization has a sound strategy that will guide the company to its desired future. A good strategy involves a strong vision of where your organization needs to be in the next three to five years, and a clear mission that brings everybody together on the company’s reason for existence.
One thing that’s often missing however, is a clear understanding of the organization’s driving force. Your company’s driving force brings focus to your competitive advantage. It informs all the functional parts of your strategy including your product/market mix and the key capabilities that will need to be built to support your vision. A company with an unclear driving force will typically commit valuable, scarce resources behind products, services, and markets that are antithetical to its vision. When this happens, there’s no chance for the organization to grow properly, and they unnecessarily expose themselves to more strategic competition.
most companies spend most of their energy and resources on formulation, then put little thought to implementation. The reality is--implementation is 80% of the results
Just having a strategy isn’t enough. In fact, most companies spend most of their energy and resources on formulation, then put little thought to implementation. The reality is--implementation is 80% of the results, not formulation! The key to strategic implementation is mapping high-altitude strategic goals down to the runway where results happen. There must be clear lineage in where every project and process fits in the overall strategy.
Finally, leaders often overlook their culture when formulating and implementing strategies. This is a huge mistake. Whether you know it or not, your organization has a unique culture that has a lot more force in driving the organization’s direction, than your stated strategy. This is especially relevant when installing or changing the organization’s strategy, as your culture can help or harm your chances of success. A cultural assessment is a quick way to get a read on your internal strengths and weaknesses, and there are specific interventions that can be done to make sure your culture aligns to your strategic direction.
Of course, this is just general advice—but good advice. Contact us today if you’d like to chat more about your organization’s strategy.