The era of research paper strategy documents is long gone. You need an actionable, crystal-clear strategy for a fundamental shift. A research paper strategy is one with lots of literature review, generic SWOT analysis, etc without direct linkage to strategic choice and objectives. You have a document in which you can remove a company name and replace it with another, and surprise, it becomes a strategy for another company, just like that. Such plans fail at execution.
If the rate of change of the external environment is faster than the rate of change of your internal environment, what will happen to your business? It will stagnate and be rendered irrelevant. And of course, lose market share fast.
Whether it is a business or family strategy you are crafting, the pandemic has challenged our ability to adapt. How do you keep your head up all the time, ahead of the rapid changes? How do you overcome financial challenges to find ways to deliver value that customers are willing to pay for consistently?
You need a bold strategy that understands the realities of today. As Mr Strategy, I have worked with countless customers experiencing multiple challenges. My approach to crafting strategy is simple: work with the client to define their stakeholders, aspirations and challenges and the choices to win. The customers have the answer all the time. But they need an independent experienced professional to reignite their passion and curiosity by asking questions that few people can. As Mr Strategy I bring independent expertise to the strategy planning table to get create team cohesion and strategic thinking.
In times of change, the team needs clarity of the purpose, vision, and choices. How do you configure to win not only today but 10 years from now? How do you define a purpose that focuses the team to remain passionate and focused on the strategic core?
2021 is soon coming to an end. How do you plan to win in 2022?
Below is how to win:
Who are your top 2-3 key stakeholders? Define them. What are their interests? What are their expectations? What is the best way to meet their expectations? How do you get their total support and commitment to your cause?
Remember, strategy is about scoring more goals and defending well so that you do not concede. Which of your top stakeholders drive your revenues or incomes? Start with those.
Next, for each of your key stakeholders, what does ‘winning’ mean to the stakeholder? That is how you understand their expectations and formulate a strategy to win with the stakeholder. Once the stakeholder is happy, they make you happy too.
What challenges are failing you from winning with your stakeholders?
Once you define the challenges, you can then craft a strategy of choice to solve the challenges. And thereafter, a work plan to address the most pressing challenges. If you plan like that, I can assure you 2022 will be a fantastic year.
For strategy facilitation or discussion, inbox. For strategy execution effectiveness, request for a demo of actionTEAM GRC, https://www.summitcl.com/actionteam-grc/. You will not only get clarity of your strategic agenda but a tool to ease your strategy implementation.
Copyright Mustapha B Mugisa, Mr Strategy 2021. All rights reserved.