Strategy Questions to Ask Before Launching a New Strategy
Based upon input from leaders around the globe, we have identified three new strategy questions to ask before launching a new strategy.
Go Slow to Go Fast
We get it. You have spent so much time and effort in designing your new strategy that you can’t wait to start executing it. You’re convinced that your leadership team’s plans will send your business in new and exciting directions. But hold on.
Be sure that the proposed new strategic direction has a clear purpose and a winning game plan for success. Your strategic plan should be able to withstand the litmus test of answering these three new strategy questions before launching a new strategy.
Three Strategy Questions to Ask Before Launching a New Strategy
Are you and your leadership team ready to move from strategy design to strategy execution?
1. Is the Strategy Clear Enough?
A smart business strategy outlines clear and compelling choices about where to play and what actions to take. An effective strategy is intended to support and encourage the growth of the business to perform at its peak. But strategic clarity is essential. Without strategic clarity, employees may be:
2. Can You Easily Tie Strategic Priorities Back to Your Target Customers?
In the end, growth strategies should add visible and meaningful value to your target customers. Customer goals, problems and needs should be central to high growth plans. For example, if you are looking to improve operations, make sure the improvement will ultimately benefit your customers through lower costs, faster delivery, or higher quality.
3. Does Your Strategic Differentiation Resonate?
Whatever changes you make as a result of your new strategy, make sure you don’t undermine your key differentiators…unless you replace them with more compelling ones. Be clear about why customers come to you and why they stay with you. You can’t risk losing your edge.Any new growth strategies should directly align with specifically what sets you apart from your competition.
The Bottom Line
High growth typically requires high levels of organizational change. When you introduce strategic change, ensure your customers appreciate the value you deliver, your strategic differentiation is clear, and the plan for success is understood and believed in by your key stakeholders.
To learn if your strategic growth plans are clear enough to cascade across your organization, download 7 Strategic Clarity Warning Signs to Pay Attention To
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