4 x 4 questions about the status of your corporate strategy
Our strategy is 10% growth with 10% profit! That’s the answer I got from a CEO of a big Swiss company to the question of strategy.
When I went on to find out how this so-called strategy is anchored in the company, it turned out that most employees were unfamiliar with it. But it also lacked the essential building blocks that form the framework of a strategy and with which a strategy can be implemented and continuously developed and adapted.
Such building blocks include:
- clearly defined strategic units (business areas),
- strategic metrics and goals e.g. on market position, cost position, agility and innovativeness
- Implementation initiatives or projects with fixed roles and responsibilities
- a stand-alone business process of strategic planning,
- ongoing customization to keep your business agile
- and above all the involvement of the employees (see our 10 theses: Employees are the best strategists! ).
We have put together a small checklist of 4 x 4 questions for you to give you a first impression of the status your company’s strategy: