#270 Business strategy

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Every organization has a strategy. Some organizations define their strategy and take the time to explain it to their employees and stakeholders. In most organizations, very few individuals get to influence strategy. When it comes to strategy, not everyone gets a vote. That is because very few people have all the information they need to define strategy.

Every single person in the organization needs to understand business strategy. They need to know what is in, what is out, and what the constraints are. Without this clarity, countless hours are spent in educating and aligning the organization. There is always some renegade who has a “great idea” for improving the bottom line, but it is not aligned to strategy.

Every single person needs to understand how to convert business strategy into an executable plan. Initiatives, programs, projects, and tasks must be all aligned to strategy. They must be able to answer the question, “How does my deliverable fit in the big picture?”

Decomposing strategic plans to execution plans is an art and science in itself. Most organizations do a decent job when given a single strategic imperative. Managing the strategic imperatives as a portfolio is the challenge most organizations are struggling to overcome.

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