Do you have a well-rounded, broad-based process for strategy development? Do you go through this process every year and, if so, why do you actually do that?
Strategy development, measurement, and tracking are an art and a science in their own right. Good and proven tools are available, most notably the Balanced Scorecard (BSC) and Objectives & Key Results (OKR). Most companies are using one of these tools or have created their own process. The trick lies in choosing the tool and the process that are the best match for your business or organization, and that incorporate all of the crucial pieces without being bogged down by layers of administrative and bureaucratic complexity. As Albert Einstein so aptly observed, «Everything should be made as simple as possible, but not simpler than that.»
My approach is not to advocate for a particular method, but to ensure that the insights of Strategic Foresight are genuinely reflected in the strategy, that the process is aligned with future viability, and that the time horizon is driven by the needs of the business and not merely by the calendar. Working through the entire strategy process every year simply by virtue of the fact that a new year has begun doesn’t make much sense on its own.
I adapt my approach to your unique circumstances and needs as I guide you through the strategic development process. Let’s define the roles.
In all honesty, how many members of your middle management, your team leaders, and your staff actually identify with your strategy? How familiar are they with it to begin with? How can you launch a strategy in a way that gets enthusiastic buy-in from top to bottom?
A CEO fly-in or a management team road show won’t get you there. Those campaigns come and go pretty quickly, failing to tap the enormous potential of middle managers, team leaders, and staff. In fact, that approach works more like an early warning system for the organization, which then braces itself for an onslaught of orders from above. The fact is: A strategy that doesn’t impact the day-to-day business reality and doesn’t spark any tangible action is useless, no matter how inspiring it sounds on paper. Yet your strategy launch can be the most powerful opportunity to galvanize the organization, engage teams in preparatory initiatives, harness their creativity, and foster a sense of ownership and solidarity. A well-prepared strategy kick-off that combines business and fun will be an unforgettable event and generate immeasurable returns, worth every penny and every hour invested.
The key to a strategy kick-off is to integrate the timeline within the strategy development process so that the relevant people are involved at the right time. I have a wealth of experience and tremendous enthusiasm for designing kick-off events and initiatives that support seamless strategy implementation and ensure that the strategy is embraced and practiced by the organization in everyday activities – and that alongside the top-down- there is a parallel bottom-up process. Let’s talk about it!
PS Here I describe how to launch strategies the smart way with a kick-off.
I appreciate Peter’s support to implement IKEA Shopping Centre Russia’s first country wide Business Plan that truly aligned the units and was launched with two unforgettable Kick Offs in 2012 and 2013 where we brought 200 leaders together and started up cross-functional cooperation that fostered an overall company- rather than 14 independent market approaches.
I perceive Peter as a very dedicated and innovative leader who manages to connect finance and operations to a great level. He introduced the 'balanced scorecard' to the team which I am still using as it helps to provide a holistic view of a business.
Peter is a high level professional able to balance simultaneously with the long-term planning and short-term deliverables. The lessons learned from the work and the activities led by Peter (scenario planning, goal setting, working with people, etc.) I still use in my job.