The Do's and Dont's of Strategy
Creating a strategy that actually works is challenging. In fact, less than 50 per cent of all strategies ever succeed, which is why many senior managers feel pressure from above and below.
Imagine implementing a strategy that can align your entire company in one direction. It would be a game-changer – but it all centres on people “getting the message”. So what exactly does that mean?
Communicate the big picture
For a sustainable strategy to take hold, a CEO must select the right people for the right places to begin moving a company in the right direction. This includes utilising HR in strategic development and implementation. Senior managers must implement the strategy, and it must be able to rally the front lines. Along the way, executive meetings need to cultivate strategy further to continue achieving goals and sustainability.
Research says that over 90 per cent of people in an organisation want to be successful. So it’s important that the strategy is clear enough for senior managers to communicate it to staff. Staff need to understand what their company is doing, why, and how they can help it succeed.
It all hinges on senior managers engaging stakeholders with the right tools to enable them to achieve the strategy’s goals.
Rally the stakeholders
Any strategy changes must start above the line with performance measures, but what matters most is the people running things below the line, which is where culture develops.
An HR focus on talent development, technology, organisational development, change management, metrics and training will help set and implement the core strategic direction. HR’s contribution to strategy should regularly assess and develop the company’s talent, competencies and organisational capabilities to continue supporting and implementing strategy appropriately.
Good strategy execution requires aligning goals, communicating methodically, engaging stakeholders, asking questions and listening. Again, one of the keys to success is having front-line leaders on board.
Executive educator John Trevillyan is the Program Director of our Senior Managers Program. He talks in depth about developing and implementing strategy with colleague Jan Marshall in a recent podcast.
John has 21 years of experience in leadership development and establishing best-practice programs for several leading organisations, providing invaluable insight into sustainable strategy.