Strategy & Wide Ownership
The task of building strategy has become enormously complex; however there is a way to simplify it down and make it highly effective and very connected to the corporation’s original vision.
Perhaps the biggest obstacle to overcome in strategy is the difficulty involved in implementing and executing the strategy the senior team comes up with. We see a no more dangerous area - - with the potential for failure of not only the strategy but also for a disaster to the entire company. The problem is one of who is involved and how much buy-in can be garnered from their leadership. People buy into what they have personally worked on and that buy-in must come from every level of the organization. Good strategy is based on the ownership by everyone involved in implementing the strategy. Most often, the wider the participation of the stakeholders in formulating the overarching strategy, the greater the effort will be made in making that strategy work. “Corporate strategy is usually only useful if you get people engaged with helping you to make it work” (Max McKeown, leading strategist).
A second major concern covers innovation in strategy. In our fast-moving hypercompetitive global marketplace innovation is becoming a basic necessity. Strategies without innovation now have huge holes in them. Strategies with innovation form the basis for going forward securely in our cruelly real and seemingly unpredictable world.
Our ever present reality is that the lifecycle of our current “performance engines” (the company’s lifeblood in how it achieves profits) is becoming shorter and shorter. Building new performance engines needs to be done while cash flow is high and choices are many. If we are not looking at the edges of our marketplace we are not going to see our world is shifting . We need to take a more careful at our Strategy.
Strategy & Wide Ownership
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