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 Keys to Keeping Talent Up to Date
Why Employees Change Their Mind
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
We have been able to utilize LSA’s extensive network of top-notch resources to leverage our investment in employee development. The result has been the cost effective and highly efficient delivery of quality educational and management training programs.
Vice President, 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.
Director of Human Resources
We partnered with LSA to pilot a customized behavioral interviewing program to help ensure that we continue to hire the best and brightest as we continue to rapidly scale. LSA’s ability to understand our business and our unique culture combined with their desire to ensure that the best practices framework truly fits our performance environment and is highly adopted by our people is a real blessing. Most other firms want to just ‘give you training.’ Not LSA, they are focused on helping me hit our hiring forecasts and attract A players.
Director of Global Recruiting
Over the years, both at 3Com and now at Redback, I’ve found LSA Global to be a valuable resource. The recent compliance program that they delivered for Redback’s executive and management team was the right solution, of the highest of quality, and customized to our business and culture. I would highly recommend LSA to any company looking for top quality solutions.
Vice President of Human Resources
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.
Workforce Planning Bureau
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.
We partnered with LSA Global to help us invest in our people in the areas of performance coaching, diversity, and inclusion. They focused on helping us succeed and were very flexible in meeting our specific needs. LSA Global exceeded my expectations from a speed, quality, and value standpoint. I would recommend LSA Global to anyone looking for a true business partner.
Director, Human Resources
SeaTel has found our partnership with LSA Global to be very valuable and beneficial. We turned to LSA to customize a supervisory/leadership solution to meet our needs. LSA delivered a customized top quality solution. I’d recommend LSA Global to any company looking for a best-in-class training and consulting partner.
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.
Each program is preceded by an assessment of the participants. The course is then designed to fit the specific parameters and needs of the group. The highly interactive delivery is provided by recognized experts in their fields. On the spot coaching is provided during the program and each participant receives individual follow-up after the course. Courses can be delivered in-person or virtually. Given the nature of Cisco’s business and the way we operate, these remote workshops are a must for anyone who joins our company. Their work is eye opening. Great content and fantastic delivery.
Frank J. Kuypers
Business Development Manager
We have worked with LSA Global for our learning and development needs and have always had great success. They helped us recently with customized Management Workshops that we held for the second time. It was fantastic, and I would highly recommend LSA to anyone that is attempting to get immediate and impactful improvements.
HR Manager, BU Radiology Informatics
Harmonic has worked with LSA for over 8 years. We have found their partnership extremely beneficial. We recently implemented a Management Development Program that was designed and customized to support our company’s strategic initiative of hiring, building, and retaining key intellectual property and human talent. We worked closely with LSA to target and implement the right solutions with the greatest impact. I would recommend LSA to any company that’s looking for a trusted training and development partner.
Director of Human Resources
For our go to training outsourcing partner, LSA provides exactly what we want. As always, they deliver outstanding work!
Director, Organizational Excellence & Development
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.
Senior Project Manager
Download key published insights and tools from industry experts highlighting best practices in the areas of talent, strategy and culture.
Want to know how you stack up against leading organizations? Receive a complimentary benchmarking analysis courtesy of an LSA Expert.
Get up to speed on timely solutions critical to your business. Published by LSA Experts based upon client feedback and key industry trends.
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.
Stay up to do date with the latest information on how we help high growth companies align their culture and talent with strategy.
Real world consulting and training approaches from LSA projects, providing insights on how your company can outperform the competition.