Is Your Strategy Being Executed Successfully Across the Company?
How to simplify corporate strategy? This is a question we are getting asked by more and more leaders seeking to lift performance in an ever-changing competitive landscape. Many leaders feel the frustration of their team not fully executing the previously agreed to plans.
Executives Are Disappointed in the Strategic Planning Process
McKinsey recently reported that only 45% of executives are satisfied with their strategic planning process and that only 23% felt that important strategic decisions were made during the strategic planning process itself. Our take…Most leaders are convinced about the importance of a workable, clear and agreed-upon strategic direction for moving forward…but the majority seem bewildered about where to begin and how to create lasting buy-in and commitment.
How to Simplify Corporate Strategy for Success
Here is a simple strategy framework to help leaders learn how to simplify corporate strategy that can get you started and help you craft a working document that can clarify and guide your strategic actions into the future:
1. Begin at the Beginning – Mission and Vision
The first step in teaching leaders how to simplify corporate strategy is to articulate your business purpose. What is your corporate vision and mission? What outcomes matter most to your organization?
Well written, your mission statement should outline your organization’s business and fundamental purpose. Done right, it should provide a true north for all stakeholders. Your vision statement should illuminate what you hope to become if you successfully achieve your mission and outline the business you will be in tomorrow. Done right, it can provide inspiration for your workforce to achieve more.
Here is Amazon’s vision statement as an example: “Our vision is to be earth’s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online.”
2. Add your Corporate Values
Too many companies spend too little time on developing meaningful and impactful corporate values. Do not be satisfied with universal and generic values that simply look good on the company web site. Instead, we believe you should be ruthlessly honest with the way you want your employees to fundamentally think and behave.
Identify the values that truly matter to your employees and enable the achievement of your strategy in a way that sets you apart. Remember that corporate values should give a common purpose to your team and provide behavioral boundaries to how that purpose should be achieved and how big and small decisions should be made.
At LSA, for instance, one of our core values is “to strive to build something special together.” This translates into us acting as co-owners with a sense of pride in what we build, going above and beyond and succeeding and sacrificing together.
3. Be Clear about What Sets You Apart
Whether you call it a value proposition or a differentiation statement, leading companies are crystal clear about what sets them apart from the competition in the eyes of their target buyers. Done well, this creates a compelling brand promise that resonates with target clients in a way that you can proudly support and deliver upon.
Are you clear about what sets you apart from the pack?
4. Identify Focus Areas
Strategic focus areas help break down and clarify how to get from where you are to where you want to be to achieve your mission and vision while living your corporate values. We have found that the best strategies have no more than four major areas of focus. Hone your list to the critical few priorities that matter most in the next twelve to twenty four months.
5. Create Clear and Compelling Goals
It doesn’t matter what you call the next stage of your strategic planning, it just matters that the objectives that fit under each focus area are clear, specific, relevant, measurable, actionable and just possible. Each goal should have a clear outcome and a direct link to a focus area. When it comes to strategic objectives, less is more; keep your list to three or less.
6. Agree Upon Actions
This is where the rubber meets the road. These action steps need to drive directly toward the strategic objectives you have set. Each action should have an owner and the assignment of ownership should be transparent throughout the company. Without accountability, you are likely to fall far short of your overall goal.
The Bottom Line
Strategic clarity accounts for 31% of the difference between high and low performing organizations. Strategic planning does not need to be an expensive or time consuming process. Bring the right people together, Identify what matters most and commit to simplify corporate strategy for success.
If you would like to learn more about how to simplify corporate strategy, download 7 Ways to Stress Test Your Sales Strategy
4 Steps to Create Strategic Alignment
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
In the Next Generation Management Development courses, I was trained with skills and tools that have made me and my team more productive, motivated, and successful at communicating with other departments.
Firmware Engineering Supervisor
LSA’s approach and ability to bring the best resources to eBay has been a great asset. They really focus on helping us succeed in any way they can and are very flexible in meeting our management and talent needs.
Learning & Development
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.
Vice President Human Resources
I’ve been associated with LSA for the last 8 years and have found them to be an extremely professional, well managed full service training organization. Since working with LSA, I’ve participated in a number of solutions ranging from Performance Management to Assertiveness Training – I’ve found that the quality of the resources is superior. They are well prepared and have definitely done a considerable amount of pre-work in order to customize our culture and business into the total learning experience – making it most beneficial for our employees.
Human Resource Manager
On behalf of Roche and my staff I would like to sincerely thank you for your help with this. The English as a Second Language (ESL) assessment and coaching that you provided for our team was a great success.
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.
Chief People Officer
What a personal and professional pleasure it has been to Partner with LSA. They are truly a strategic partner with Wyse. For more than 5 years, LSA has been engaged in delivering various training and development solutions for Wyse, from custom on-site programs targeting specific core competencies, to working individually with clients to build job skills, and offering invaluable services to me and my team as we continue to build our learning programs. LSA’s representatives do more than sell a product, they offer a full service solution: they understand our business, our strategic initiatives, and the needs of our customers.
Director of HR
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Kelly Warren, SPHR
Director, HR & Compliance
LSA provided top notch solutions right when and how we needed them. They exceeded my expectations from a speed, quality, and cost standpoint. I recommend them to anyone looking for a true business partner in the Learning and Development arena. The breadth and depth of their expertise has helped us hit tight deadlines across multiple projects.
Fortune 500 Financial Services Company
Director of Infrastructure & Technology
The Next Generation Management Development courses have helped me communicate more effectively with my peers and teammates. By utilizing effective communication techniques such as clarifying and confirming, and asking open ended questions, I have been able to clarify and understand information in situations where I would have otherwise asked limited questions and made false assumptions.
Firmware Engineering Manager
LSA exceeded all my expectations. We interviewed 7 potential training and consulting partners and selected LSA due to their expertise, flexibility, and breadth and depth of solutions. We were able to construct a management training course from the modules most appropriate to our needs, and are able to provide additional training from their well developed portfolio of experts. Our managers galvanized as a team throughout the session and are better prepared for the rigors of a competitive market.
LSA’s consultant designed and delivered a half-day team building solution for our recent conference. It included careful customization to integrate the design with our new mission and values. Everyone had fun and identified key issues with our teamwork. Altogether a great program!
Director of HR
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
Working with LSA Global has proven to be extremely valuable and worthwhile. LSA understands our business, has deep expertise in content areas, and tailors the programs to deliver great results. The facilitator was extremely knowledgeable about Working Globally with India and her energy and passion made the session interesting, fun, and enjoyable for all that attended. The participants walked away extremely pleased along with highly useful practices and tools. I would highly recommend LSA Global to any company that has partners or offices in India.
Human Resources Business Partner
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