No strategy, no results.
For all that has been written about strategy formulation, it remains a mystery for many leaders and leadership groups. Whether we are coaching, doing team development, or helping with strategy formulation, the first thing we do is ask to see the existing strategy.
No one will be surprised that, typically, the existing strategy is either nonexistent or sitting in a dusty binder somewhere. sometimes, it comes to us in the form of a PowerPoint deck with six slides! No wonder the client has been having trouble executing it!
We use two tools to drive strategy formulation and execution:
- The concept of value discipline as originally formulated and spelled out by Tracey and Weirsema
- The strategy mapping tool first introduced by Kaplan and Norton of Balanced Scorecard fame
We have modified both tools significantly based on our work with over 100 clients.
- A chosen and agreed upon value discipline.
- A catalog of organizational issues that inhibit progress.
- Clarity on financial and customer results you must reach in the next five years.
- Metrics for key stakeholder results.
- Articulation of the processes that will create results.
- Specification of the critical organizational capabilities your mission and strategy requires.
- A system that will force clarity about strategy and execution.