What if strategy could be directly linked to dramatic increases in your profit?
You have labored to produce well-crafted statements of mission, vision, and values so you can tick the box and meet the requirement. Most businesses have a strategy in one form or another, often assembled at an off-site retreat, and someone in the company can likely say exactly where that binder is right now, collecting dust.
Has this plan has achieved the breakthrough bottom line results you projected? If the answer is "No" or "Not sure", you need help with your Strategy Execution.
Ask yourself if everyone in your company, from top management to line employees, knows:
How Does Everybody Contribute?
What are we doing each and every day to contribute to achieving the long-term success of the company.
What Is Success?
How, specifically and quantifiably, the company defines long-term success.
Are We On The Right Track?
How the company is progressing toward that definition of success.
Strategy shouldn't be something so complex it requires a weekend and a highlighter to comprehend.
It also shouldn't be left on the shelf, locked away in pages upon pages of well-written and carefully crafted sentences.
Four main barriers that stop strategy from becoming sustainable bottom line growth
- A lack of clarity and understanding about exactly where the company is going and how it will get there.
- An inability to make strategy everyone's job.
- A separation and disconnection between planning, budgeting and the reality of daily operations.
- An inability to test and monitor if plans are achieving desired results and how plans need to be adapted or changed
bringing strategy to life
"One of the most common organizational ailments is a “strategy gone lost” meaning an organization puts effort and time to create a strategy which then lies under a stack of folders on one executive’s desk for months or years. The Balanced Scorecard brings strategy to life as it represents a snapshot of that strategy through the use of “business short-hand.” The Scorecard can be used as a means to communicate the strategy with clarity to the rest of the company, allowing for natural alignment of all business units and employees in their short and long-term priorities."