Success without a strategy is called luck. Even the most opportunistic enterprise needs a strategy to wisely pick the right opportunities. Actually, a bad strategy is better than none.
The prime objective of any strategy is to make the business direction obvious to especially those who work in it, but also others. Without a clear strategy, delegation of authority leads to chaos instead of efficiency.
A clear strategy with buy-in, not only gives meaning and purpose for the individuals in the organization, but enables teams to collaborate and the whole organization to pull in the same direction. This is powerful.
The second objective is the actual work producing the strategy. To stop and think. Research. Discuss. Systematically building a non-biased and fact based road map. Getting the biggest bang for invested money and time in a fast paced environment.
That work starts at the very top, with the owners. They have to establish the frame work, which is often referred to as the Owners Directive. The possibly most famous example is what Ingvar Kamprad wrote for the benefit of the whole IKEA organization in 1976, and which is still valid.
Additional directives, assumptions about e.g. the market, and qualitative and quantitative targets need to come from the Board of Directors, and the CEO and his team. The organization can then develop a strategy with buy in and engagement, resulting in a successful implementation – the purpose of the whole exercise.
The strategic process can be extremely complex, or fairly simple and straight forward. It depends on the starting point, and the level of change wanted or necessary. A good strategy should be clear about marketing and sales, cost, cash, and organizational values like respect and responsibility. And what not to do.
RRR Consulting has a proven and extremely effective strategy process. We will guide our client thru this process, facilitating, providing a healthy outside-in opinion, participate as a sounding board for the CEO and the management team, and/or lead part or the whole process for a part or the whole organization.