From the course: Creating a Culture of Strategy Execution
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Setting strategy
From the course: Creating a Culture of Strategy Execution
Setting strategy
- Your strategic plan should describe the market environment and lay out a plan for how you'll successfully compete in it. For detailed instructions on setting a strategic plan, check out my strategic planning course. A good strategic plan will set direction for the organization, focus your efforts, eliminate distractions and set priorities. It will also define measures of success in terms of financial performance and other key metrics. Strategy has to go beyond defining a vision and a mission. It has to lay out priorities in terms of projects and areas of focus. You'll communicate those priorities to the organization so people know what to work on and why they're working on it. Clear success measures are going to help people take action during uncertain moments. They'll know what objectives they're trying to hit so when you're not there to give guidance, they still know what they should be working on. I worked with one organization that was a grocery retailer and one of the business…
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