" Risk mitigation is a survival technique, to thrive you must focus on the opportunities you want to seize "
On average 70% of strategies fail. This failure rate extends past what's in the strategic plan & includes key objectives such as: New Product or Service Launch, Digital Transformation, Go-To-Market Strategies, and Growth Ambitions
Estimated increase in revenue when companies think long term, create data informed objectives and embed their strategy into the organisation.
The amount of time roughly 85% of Leadership Teams spend reviewing their strategy per month
The percentage of employees that feel comfortable asking critical questions about the organisations strategic priorities and direction
Stat Source: Harvard Business Review
My Five Points
01
Your What, and Why are just as critical as your How and Who: success is predicated on being clear on your why, what, who and how in equal terms. One does not outweigh the other.
02
Strategy and Tactics are not opposing forces: They are the continuation of one another and interdependent. Strategy informs your tactics, and tactics in turn shape your strategy.
03
Organisations focus on the wrong data points TAM, SAM, SOM: analysis has limited utility. Focus on the data points that help evolve the value chain, improve the service offering, resolve customer pain points & deliver value. Market dynamics play a role but do not outweigh performance.
04
05
A company is a whole comprised of many parts: Strategy, is one part of the whole. Over sensationalising one part at another's expense creates an unequal playing field that will inevitably need to be evened out. Whilst company culture and the ability to execute are critical, they do not replace strategy.
Drive & democratise accountability:
Often strategic priorities sit at the Executive layer, it's important to communicate and democratise these priorities to drive ownership across the value chain at all levels.