How to Develop the Right Strategy to Win

The game of Jenga shows How to Develop the Right Strategy to Win

How to Develop the Right Strategy
When you can develop the right strategy…one that is clear, agreed-upon and achievable…you are set up to win the game and outperform your competition.

Top 10 Signs of a Bad Strategy
Let’s start with the most common signs of a bad strategy.  Too many of us know what can happen with a strategic plan that is fuzzy, ill-conceived or non-implementable. The typical signs of an ill-conceived strategy include:

  • Lost market share
  • Increased finger pointing
  • Failure to reach goals
  • Lack of collaboration
  • Shrinking margins and profits
  • Decreased confidence in leadership
  • Lower employee engagement
  • Increased attrition
  • Shifting priorities
  • Conflicted success metrics

The above list is not fun.  It really matters that you develop the right strategy.

Five Tips to Develop the Right Strategy
Here are five tips on how to develop the right strategy to get the results you want:

  1. Actively Include All Employees
    This is easy if you have fewer than twenty employees. If your company is larger, give everyone a chance at input either as individuals or through their group or department. Make sure each team aligns their team strategy to the overall strategy.
  2. Answer the Key Questions
    Give your employees key strategic questions to consider. Examples include:
  • Who are our ideal clients?
  • What do we do better than the competition?
  • What pressures do we face in the next 12-18 months?
  • What risks do we face and how should we prepare to deal with them?
  • What are our greatest opportunities and how can we take advantage of them?
  1. Analyze and Prioritize
    Sift through the feedback and prioritize what matters most. Select a few clear strategic priorities that will have the greatest impact on your business in both the short- and long-term.
  2. Develop a Short List and Strategic Theme
    If you’re serious about implementing a strategy throughout the entire organization, you need a focus. Too scattered an approach will leave employees frustrated and confused.Select three moves that would make the greatest difference and craft a one-sentence theme that is clear enough and simple enough for everyone to understand and commit to. Perhaps you want to expand into the global market, or grab market share from your most effective competitor, or become the best place to work for “A” players in your industry.

The strategic theme needs to fit your specific business.

  1. Get to Work
    This may be the most vulnerable stage of the strategic planning process…strategy implementation. Execution is where so many strategies struggle and fail. Be forewarned. It takes hard work and discipline, steady motivation, judicious tweaks and strong leadership to achieve the strategic goals.

You need to set clear roles, hold employees accountable, provide needed resources, and recognize and reward successes along the way.

The Bottom Line
To develop the right strategy, you need to plan well, actively involve key stakeholders and focus on implementing the critical few moves that matter most.

To learn more about improving your chances for strategic success, download 3 Big Mistakes to Avoid When Cascading Your Corporate Strategy

Comments are closed.

Avon’s success is dependent on strong relationships among our Customers, Representatives, Associates, and outside resources we hire to help us meet our business objectives. We were very pleased with the results from working with LSA Global to design and facilitate a custom program for our events management team. LSA demonstrated responsiveness, flexibility, and an innovative approach to working with us.

Deanna Rudnitsky
Senior Manager, HR Destiny Sales Region

I have worked with LSA Global at previous companies and welcomed the opportunity to bring them in to support my new organization. We worked closely with LSA to design a solution for our Client Partner Teams and Management Training on both coasts. LSA designed a customized solution for our business and organizational culture. LSA is a quality organization, one that I’d recommend to any company looking for a first class training and consulting partner that makes an impact.

Laurie Torres
Chief People Officer

Here’s a token of my appreciation for ALL your efforts. I’m offering my most sincere appreciation, and it extends to all the folks who made our customized management development programs possible.

Susan Anderson
Workforce Planning Bureau

We consider LSA Global our outsourced learning and development partner. We worked closely with LSA to customize a management development program to meet our growing business needs. I would highly recommend LSA to any company wanting to deliver quality learning solutions.

Terri Wright-Scheer
Vice President Human Resources

We value our relationship with LSA Global. We came to LSA because we wanted to improve overall behavioral based interviewing capabilities of our managers to increase the probability of both hiring top talent and future leaders. LSA designed a highly customized solution for our business and culture. We are currently rolling out this solution to our leaders. I would highly recommend LSA Global as a top quality resource.

Rae Phillips
HR Project Manager - Training & Development, PHR

LSA Global’s consultant brought a fresh perspective to our behavioral based interviewing strategy for two key executive positions we needed to fill, and their consultant helped us develop questions that produced a much deeper understanding of candidates’ capabilities. I am confident that the two new executives joining our organization have the right skills to add significant value. Throughout the process LSA was also very responsive in dealing with short lead time requests.

Because of the unique nature of our business, Excel is a core application in our accounting organization. After three attempts to find an Excel consultant who is capable of helping our finance team integrate advanced applications into our work processes we found LSA and Alex. He was not only a “Real” Excel expert but was masterful in helping us identify where to use Excel applications in our processes to increase our group’s efficiency.

SPO Partners & Co
Kim Silva, CFO

VNUS Medical has been very pleased with the effective management development programs that LSA Global has delivered for us over the last four years. The programs have been universally facilitated by experienced and best in class instructors. The knowledge gained by our management team has been put into practice very quickly. VNUS is very happy to be working in partnership with LSA because they consistently deliver excellent programs that receive exceptional feedback from our management team.

Cindee Van Vleck
Director Human Resources

LSA has become the gold standard in team building and management training at Genomic Health! I have a hard time finding facilitators that come close to their level of customization, expertise and experience.

Emily Couey
Director of Human Resources

I consistently look to LSA Global when I need custom programs put together for my client groups. I can always count on LSA to do a thorough needs analysis and to put together spectacular programs that are well received. Their management development and performance management expertise and professionalism make them one of my top-rated learning and development partners.

Stephanie Webb
HR Program Manager

Rambus

LSA helped us design and deliver a blended learning solution for our leaders to help drive our growth plans in a way that aligned with our specific culture and values. LSA understood our business, had deep expertise in the content areas, tailored the programs to fit our specific needs, and delivered great results. They constantly strive to deliver business impact and align their solutions with our business initiates, culture, and performance management systems. I highly recommend them to anyone looking to take their leaders to the next level.”

Beth A. Taylor
Vice President of Human Resources

Thoratec

In my years working with LSA, it seems like I’ve had a personal consultant at my fingertips to help me identify just the right solution to satisfy our needs. The entire LSA team has become a trusted friend of Actel — assuring we provide state-of-the-art learning to meet our complex, high-tech business and people needs.

Linda Mitchell
Training Manager

We contacted LSA to help us with customized management development. LSA worked with me to identify a solution that would meet our exact needs. We decided to start at the top and ran the program for our executive team. It was such a great success that we hope to roll it out companywide. We look forward to a long-term partnership with LSA Global and their team of experts.

Barry L. Byrd, SPHR
Human Resources Manager

I highly recommend LSA Global to anyone who is looking to improve individual or organizational effectiveness through their top quality programs and broad range of expertise.

Greg Pappas
VP of Human Resources

Hyperion has a commitment to lifelong learning. LSA helps us provide the right business sales training, management training programs, and leadership development programs at the right time to meet the needs of both individuals and departments. I especially appreciate their ability to listen to my needs and recommend the appropriate facilitators, solutions and content.

Sarah Parks
Senior Project Manager

Hyperion

The refreshing thing about LSA is that they focus on understanding our business situation and helping me succeed instead of selling a product. With over 150 experts, they are an invaluable resource that helps me deliver higher quality results faster. I recommend them to anyone looking to improve the performance of their workforce.

Stacie Rodgers
VP of Human Resources

Cutera

Evaluate your Performance

Toolkits

Toolkits

Download key published insights and tools from industry experts highlighting best practices in the areas of talent, strategy and culture.

More

Health Checks

Health Checks

Want to know how you stack up against leading organizations?  Receive a complimentary benchmarking analysis courtesy of an LSA Expert.

More

Whitepapers

Whitepapers

Get up to speed on timely solutions critical to your business. Published by LSA Experts based upon client feedback and key industry trends.

More

Methodology

Methodologies

First we identify the key metrics you want to improve. Then we assemble a dedicated team of elite experts who have successfully solved similar problems with similar clients.

More

Blogs

Stay up to do date with the latest information on how we help high growth companies align their culture and talent with strategy.

More

Case Studies

Client Case Studies

Real world consulting and training approaches from LSA projects, providing insights on how your company can outperform the competition.

More