What % of your leaders see strategic planning as part of their jobs and as a result, really engage the process?
Development of strategic direction is only the first in a multi-staged process of seeing strategy through to fruition. The strategy has to be communicated to all levels of the company, it has to drive the priorities of the business units, the business units have to include this overall direction in their budgets and people have to be held accountable for their plans.
When communication breaks down at any level of the corporate hierarchy, or at any stage in the process, everyone and every subsequent step below that level will be crippled, including your people’s ability to align to corporate direction. Over time, this erodes their relevance to corporate direction. The dynamics in every organization are different and there are no silver bullets for making this happen in every culture, but what is common is this:
People need to understand:
1) Where your company is going (Long-term Direction)
2) How it intends to get there (Short-Term Initiatives)
3) What success looks like (Measures and Targets)
4) How weâ€™re doing against our plan (Reporting)
This sounds elementary, and it is. We all need to take a good look at our own blind spots to determine how we can do this more effectively. As soon as you get real commitment from all levels of management, your company will be more effective.