Friday, March 12, 2010

Developing a High-Performance Strategy

Does everyone in your organization know its strategy? 

Strategy is not necessarily a document but rather an orientation and mindset that should be understood by every employee, guiding day-to-day decision-making at every level of the organization.

Some elements of strategy include:
  • A synonym for conscious choices
  • Addresses the interface between the organization and its environment
  • Lays the foundation for tomorrow's success while competing to win today
  • Involves anticipating, adapting, and creating change
  • Is the most important and difficult challenge facing most businesses
  • Requires trade-offs (can't be all things to all people
  • Includes differentiating the organization from competitors
  • Necessitates risk-taking
  • Is the task of the entire organization
  • Must be operationalized into plans and actions
Although some industries are more stable than others, the ones that flourish in the long-run are those who engage in continual strategic renewal.

Our sequence for strategic design is:
  • Analyze the business environment
  • Forecast the future
  • Create a core idealogy
  • Define strategic direction
  • Define competitive advantage
  • Set goals
  • Create a master plan
Please let us know if we can help you with your strategy!

Until next time...

Sheryl Tuchman