Strategy challenges are indicated by a slowing in top line revenue growth. If revenue is not growing as quickly as you like, then it’s time to re-examine your strategy: What you’re selling to whom? It’s important to have a concise statement of that strategy so everyone’s aligned and on the same page without wasting sales or operational energies on activities not useful to the business.
Strategic Discipline Blog
92% of CEO’s feel their leadership team can communicate their strategy! The same survey revealed that only 2% of their leadership team actually could!
Just about every business I know can put together a one year plan for their business. How many actually do is another question. The biggest issue is whether the plan has the teeth to succeed. Does it muster the proper support and accountability to achieve the expected result? You need only refer to my last blog Strategic Planning - Great Strategy Isn't Enough to understand the multitude of reasons why most business plans fail. That's why you need Strategic Discipline.
Before moving to your One Year Plan it's important to understand that developing your strategy isn't enough. Getting your executive team together to postulate, plan, brainstorm and discover your 3-5 year plan and then determine your key thrusts and capabilities isn't nearly enough to move the needle on your business.
In Mastering the Rockefeller Habits Verne Harnish states that to become and remain competitive your company needs three things: