Creating a Strategy

An executive survey found that strategy decisions were made when: 44% at regular planning cycle, 35% issues arise, 18% none, 3% don’t know (McKinsey).

Executives need to:

  • Increase the time spent regularly creating, reviewing and updating strategy;
  • Consider both a) internal corporate aspirations, and b) directional changes required due to external global forces;
  • Limit the number of issues addressed by doing a pragmatic prioritization, and then determining timing and sequencing of decision making;
  • Implement a rigorous management process to track initiatives to close gaps between current state and desired future state;
  • Execute through disciplined approach of key strategic initiatives:
    • What is scope of decision….the objectives, the constraints, and the external forces/ trends?
    • What are our capabilities to meet this goal? Liabilities?
    • Develop systemic offering and plan to build/execute
    • Review, decide, revise, evolve

Where will your organization growth come from?

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