A Strategy That Dominates the Competition (And Actually Gets Put Into Action!)
A Strategy That Dominates the Competition (And Actually Gets Put Into Action!)
By Andrew Neitlich
The problem with most strategic planning exercises is that they result in a beautiful written document, but nothing ever gets done.
In my experience, executives fail to implement strategy because they fail to complete a comprehensive strategic plan. There are three parts to strategy in any organization, and each is crucial. Most organizations skip one or more of these components, and that is why strategy rarely gets implemented properly.
The three parts to any strategy are:
1. Strategic context. Contextual questions are the broad strategic questions that must be answered. Too many organizations assume that everyone already knows and understands the strategic context. This is rarely the case. Key questions to answer include:
a. What are our overall internal strengths, internal weaknesses, external opportunities, and external threats? How do we use our strengths to capitalize on opportunities and minimize threats? How do we shore up our weaknesses to be able to avoid threats and not miss opportunities?
b. Who are our desired customers? Who are not our customers? How are the needs of our desired customers changing?
c. Who are our competitors? Who are not our competitors? How are our competitors changing?
d. Which products/services do we offer our customers? What do we not offer? How do our products need to change to remain competitive? Which products should we de-emphasize? What new products should we offer?
e. What do we do best? What should we do best?
f. Is our business model, based on what we do best, profitable? How can we make it more profitable?
g. Where do we not meet the market’s expectations? What do we have to do to get better?
h. What kind of organization do we want to be?
i. How will we measure success?
2. Strategic Priorities. Strategic priorities are the key things an organization must do to continue to compete and succeed. Most organizations have too many priorities, and need your help to focus.
a. Given the work done about strategic context, what are the 5-6 priorities that we must complete in order to be the best, serve our desired customers?
b. What resources (people, time, money) are required for each?
c. What is the action plan?
d. What are immediate next steps?
e. Which current initiatives should we de-emphasize or stop?
3. Strategic Alignment. Strategic alignment is the part of strategy that makes sure that things get done. Many organizations talk all day about strategic priorities, but never finish them. They need to answer these questions:
a. Who is responsible for each initiative?
b. How do we track progress?
c. How do we communicate success?
d. How do we reward success?
e. What tools and support do people need to succeed?
f. What do people stop doing to make room for new initiatives?
Once all three elements of the plan are in place, and the leadership team agrees with the plan and commits to being accountable for achieving the desired results, then the strategy has an excellent chance of success.
The business consultant has the opportunity to utilize this framework and put in place an efficient process to assure results. Our program shows exactly how to do this.
A Strategy That Dominates the Competition And Actually Gets Put Into Action - To learn more about this author, visit Andrew Neitlich's Website.
Like this article? Share it with your friends
A Strategy That Dominates the Competition (And Actually Gets Put Into Action!)
By Andrew Neitlich
The problem with most strategic planning exercises is that they result in a beautiful written document, but nothing ever gets done.
In my experience, executives fail to implement strategy because they fail to complete a comprehensive strategic plan. There are three parts to strategy in any organization, and each is crucial. Most organizations skip one or more of these components, and that is why strategy rarely gets implemented properly.
The three parts to any strategy are:
1. Strategic context. Contextual questions are the broad strategic questions that must be answered. Too many organizations assume that everyone already knows and understands the strategic context. This is rarely the case. Key questions to answer include:
a. What are our overall internal strengths, internal weaknesses, external opportunities, and external threats? How do we use our strengths to capitalize on opportunities and minimize threats? How do we shore up our weaknesses to be able to avoid threats and not miss opportunities?
b. Who are our desired customers? Who are not our customers? How are the needs of our desired customers changing?
c. Who are our competitors? Who are not our competitors? How are our competitors changing?
d. Which products/services do we offer our customers? What do we not offer? How do our products need to change to remain competitive? Which products should we de-emphasize? What new products should we offer?
e. What do we do best? What should we do best?
f. Is our business model, based on what we do best, profitable? How can we make it more profitable?
g. Where do we not meet the market’s expectations? What do we have to do to get better?
h. What kind of organization do we want to be?
i. How will we measure success?
2. Strategic Priorities. Strategic priorities are the key things an organization must do to continue to compete and succeed. Most organizations have too many priorities, and need your help to focus.
a. Given the work done about strategic context, what are the 5-6 priorities that we must complete in order to be the best, serve our desired customers?
b. What resources (people, time, money) are required for each?
c. What is the action plan?
d. What are immediate next steps?
e. Which current initiatives should we de-emphasize or stop?
3. Strategic Alignment. Strategic alignment is the part of strategy that makes sure that things get done. Many organizations talk all day about strategic priorities, but never finish them. They need to answer these questions:
a. Who is responsible for each initiative?
b. How do we track progress?
c. How do we communicate success?
d. How do we reward success?
e. What tools and support do people need to succeed?
f. What do people stop doing to make room for new initiatives?
Once all three elements of the plan are in place, and the leadership team agrees with the plan and commits to being accountable for achieving the desired results, then the strategy has an excellent chance of success.
The business consultant has the opportunity to utilize this framework and put in place an efficient process to assure results. Our program shows exactly how to do this.
A Strategy That Dominates the Competition And Actually Gets Put Into Action - To learn more about this author, visit Andrew Neitlich's Website.
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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