From the course: Creating a Culture of Strategy Execution
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Running prioritization processes
From the course: Creating a Culture of Strategy Execution
Running prioritization processes
- A big reason organizations struggle with executing their strategy is they don't prioritize the most important initiatives. Instead, they work on any good idea that comes their way. While I was filming this movie, I got an email from a CEO that said, "Mike, we're doing the strategy planning process right now "because we need to focus our efforts." It's a recognized problem. A good prioritization process has criteria focused on strategic priorities. The process ensures projects and initiatives are aligned with the strategy. It prioritizes those projects above those that don't have direct strategic linkages. Once you have prioritization criteria defined, communicate them, tell people what they are. When you do that, people will self-prioritize their efforts based on those criteria. They'll focus on executing projects that are on strategy. When I worked at one financial services firm, they had a really clear prioritization process. Every single month, we all got together in a room and…
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