Transform your vision into a unified, high-impact reality
At GoldOurs, we believe that with a shared 'why', a strategy is just a document. We also share what the experts say is the best roadmap to transforming your vision into a unified, high-impact reality in our new article.
Before we delve into the details, corporate leaders recognise that there is a compelling case for ensuring that their corporate vision becomes a reality.
It is borne out by Harvard writers Michael Mankins and Richard Steele, who say that if management were to realise the full potential of its current strategy, the increase in value could be as much as 60% to 100%. For any corporation, the size of the reward is very much worth the effort. The surveyed leaders agree.
So do we. But what is clear is that there isn’t one right version. Just as all corporates differ in their vision, goals, and objectives, so do the strategies for achieving corporate strategy.
What is equally clear is that it is easier said than done. The Harvard writing duo, with a formidable pedigree in consulting firms, attribute the strategy-to-performance gap to a combination of factors, including poorly formulated plans, the misapplication of resources, breakdowns in communication, and limited accountability for results.
They estimate, based on executive feedback, that the failure to have the right resources in the right place at the right time strips away some 7,5% of the strategy's potential value. Some 5,2% is lost to poor communication, 4,5% to poor action planning, 4,1% to blurred accountabilities, and so on.
Goldours has reviewed several frameworks and plans. There is an interesting variety of frameworks and plans for achieving a strategy. Some, like Rhythms Systems, make a lot of sense.
It advocates a 7-point framework:
Figure 1: Rhythm’s 7-point plan
They also offer a helpful free strategy execution assessment here.
Other business consultants like Gabriel Topman provide a more detailed approach:
Figure 2: Gabriel Topman's 10-step plan
What will work for you? And how will this help address the biggest challenge you have faced?
