Clear Business Strategies Set You Up for Success

When you have clear business strategies the direction ahead is obvious

Clear Business Strategies Account for 31% of the difference
Our organizational alignment research found that clear business strategies account for 31% of the difference between high and low performing companies.  Sifting through all the different possible directions you could take with your business could drive you crazy and prevent you from making any real progress…but when you have clear business strategies, the path forward keeps you, and your business, on the right track.

The Definition of Business Strategy
It is your corporate strategy that delineates the clear and compelling choices about where to play and what actions to take.  And when it is thoughtfully conceived with a thorough knowledge of your business and an eye to the future, a successful strategic plan sets your organization up to perform beyond just the sum of its parts.

What You Need to Know About Your Business
Before you even start to craft your strategic plan, you should have clear answers to the following questions related to creating clear business strategies:

  • Growth. Where is the greatest growth potential for the coming year and beyond? Does it derive from the products/services you provide? Or the markets you serve? Or the geography where you could excel?
  • Differentiation. Why do customers buy from you rather than from your competition?
  • Priorities. Where should you invest resources, in order of priority, to take advantage of your competitive edge?
  • Buy-In. Do your leaders and employees thoroughly understand and buy into your plan for success?
  • Continuous Improvement. Are systems in place to support the day-to-day behaviors and decisions that will keep you and your work force on track to implement your strategy?

What Clear Business Strategies Deliver
When you have a business strategy that is understood, believable and implementable enough by all key stakeholders you will see:

  • Success – Strategic and tactical goals are more easily and regularly achieved
  • Productivity – Employees are more productive because they know just what they are to do and how their job fits into the overall game plan
  • Savings – Less time is wasted on activities like duplication of effort, unnecessary and unproductive meetings and following an overbearing approval process
  • Alignment – Products are better aligned with what customers want and need
  • Accountability – Employees are held accountable for attaining their objectives
  • Engagement – Overall performance is higher as employee engagement increases and substandard employees improve or move on
  • Focus – Improvement initiatives are driven by their alignment with the strategy, not sidetracked by adherence to the way “it has always been done” or by company politics

The Bottom Line
Clear business strategies matter.  Too many leaders tell us about their frustrations with their carefully designed strategic plan not being carried out as fast or as well as they expect.  Don’t let your strategy become one of the reported 9 out of 10 that fail to be fully implemented.

If you want to learn more about creating clear business strategies that matter, download 7 Signs Your Strategy Is Not As Clear as It Needs to Be

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Hyperion

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Edify

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FRDP Leader

Intuit

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