Veteran author Mike Figliuolo shows you how to create and apply qualitative and quantitative strategic filters, and how to execute on strategy to achieve the goals of your high-performing team.
- Now I mentioned strategic filters. Once you have a good sense of which initiatives are very high priority, you need to do the next cut of prioritization. These strategic filters are going to be evaluation criteria for looking at your initiatives and some will be qualitative and some will be quantitative. So for example, we may have strategic filters that say does this initiative help us grow internationally or does it help us grow with a certain consumer segment? Does this initiative advance our technology platform? So whatever criteria are most important to your organization and the achievement of that organization's goals.
You may also have some quantitative filters like, the net present value of that initiative or the return on investment. So you'll construct this set of filters to evaluate those initiatives and later on you'll run all your initiatives through those filters to understand how they stack up relative to one another. Once you've done that, you've almost completed the strategic planning cycle. You've set your strategy by articulating your vision and your mission. You've understood where you play and where you don't play based on your core competencies.
You'll have articulated your strategic filters for evaluating the initiatives you're going to pursue and then prioritizing them. And that resultant prioritization list should drive your organizational structure and it should drive your resource planning for how you're going to get those initiatives done. Once you've defined that organizational structure, then you can start thinking about the members of your team and where they best map based on their individual capabilities within that organizational structure.
Many times we do this process in reverse and we start with well here are the people I have, therefore here's an organizational structure that makes sense given those people and their capabilities and based on that structure and those people, here are the initiatives that I can pursue because I have the capabilities. And therefore if I pursue those initiatives, here's my default strategy. And we end up having this strategy that is driven by the resources that we have versus a strategy that is mindful of a vision that we're trying to achieve.
So making sure that you put strategy, then evaluation of initiatives to drive organizational structure, then drive your human resource planning will help you achieve the goals of that high performing team.
- Create a compelling vision and mission for your team.
- List the steps to conduct strategic planning activities.
- Identify the resources teams need to succeed.
- Determine the skills leaders need to look for when recruiting high performance teams.
- Explain how to create stretch opportunities for employees.
- Describe the primary components of conflict resolution.
- Build bench strength and succession plans.