When it Comes to Strategy – Do You Know what GREAT looks like?
The quality of a strategy can be divided into four categories – Good, Bad, Ugly and Great.
A good Strategy can be made great by ensuring that you capture the hearts and minds of those who have to implement it. When the key employees, partners and suppliers are committed and engaged, you can then achieve Mobilisation. Mobilisation = ACTION!
The Five Key pillars of a Great Strategy:
- Be brave – ask the tough questions: It’s critical to find out what the source problem is so you can put the right solution in place.
- Avoid potential Barriers to Implementation: You need to understand the levels of resistance to lead change among key stakeholders: employees, shareholders, suppliers, and others you may be relying on for success.
- Make Bold Choices: There are many choices to make when developing a great strategy – some decisions are easy, others not so much.
- Create and Maintain a Competitive Advantage: There are multitudes of sources of competitive advantage – the critical ones will change by industry. For Eg: Organisational culture and structure, processes and practices, products and intellectual property, assets and natural resources.
- Embed Implementation from Day One: Mobilisation is the X-Factor in great strategy. Mobilisation is when you capture the implementors hearts and minds and gain their emotional and intellectual commitment to Act.
Why settle for good, when, with a little more awareness, knowledge, and planning – you can make it great? Great Barrier Reef, Great Ocean Road, The Great Australian Bight – Great Strategy !!
The Four Critical Success Factors for Creating Great Strategy
As a business leader responsible for developing a strategy for your business, do you know the 4 critical success factors that must be adhered to to achieve a successful outcome? Here’s a cheat sheet:
Does your organisation:
Has your organisation: