If you dig into most corporate strategies you will find that while they provide lots of value to most CEOs, the reality is they fall short on delivering revenue growth. Corporate strategies are exclusively focused on strategy, as they should be. However, strategy without execution results in average to below average revenue performance. To “make your number” every month, quarter and year, consistently, requires the perfect blend of strategy and execution. This is what the top growth executives do differently than their peers – blend strategy and execution. To evaluate whether your corporate strategy is a problem, answer the questions on page 52 of the Make Your Number workbook.
Let’s now focus on solidifying your Corporate Strategy. So, how will you follow suit and aligned your Corporate Strategy with the rest of the company’s plans to achieve execution? For this, we can refer to a rather telling before and after snapshot.
Here’s how your Corporate Strategy will look with and without the help of Strategic Alignment: A complete Corporate Strategy is consulted all the time by members of all departments and levels of the company.
Your Corporate Strategy Without Strategic Alignment:
Your Corporate Strategy was created two years ago, with collaborative input from the Executive team. It mainly consisted of a set of Mission, Vision, and Values statements.
These points were posted around your office, but not directly communicated to the rest of your company. Your organization hasn’t consulted a document of strategy since it was created, except maybe as reference for a new deck.
As a result of this scattered process, your Corporate Strategy left the door open for your company to be all things to all markets. Each department presented a different idea of what your organization was trying to accomplish, confusing customers and throwing off metrics of success.
That doesn’t sound like a great diagnosis for a Corporate Strategy. Contrastingly, this is what your Corporate Strategy will look like if it’s planned according to Strategic Alignment…
Your Corporate Strategy After Strategic Alignment:
Your Corporate Strategy was composed by the CEO using actionable insights from Market Research. Functional leaders played a part in drafting the strategy, providing input and adjusting as needed.
This strategy clearly defines the big decisions that Product, Marketing, and Sales need to make their number. It also answers tough questions like which markets you’re diving into and why, and how you’ll edge out competitors.
The complete Corporate Strategy is consulted all the time by members of all departments and levels of the company.
Which Corporate Strategy Will You Choose?
Naturally, you’ll want your strategy to resemble the second profile—the one ensures your objectives are clear and cohesive throughout the company.
SBI has what you need to make it happen. If you need more help with your corporate strategy, download our 10th annual workbook, How to Make Your Number in 2017. To request a workshop with an expert simply sign up for a MySBI account and check the box in your preferences to request a workshop.