It’s easy to get derailed from your business strategy. We have so much happening daily that we forget about that strategy we developed earlier in the year and intended to work on throughout the year. In order to keep focused on your strategy and not get derailed, take these best practice steps:
- Share the strategy throughout the organization – getting input, answering questions, explaining why you are focusing on the areas in which you are focusing.
- Set up a team comprised of employees from each department/business unit who are the “keepers” of the strategy.
This group’s focus is to ensure that every major initiative undertaken within the organization supports one of the strategic initiatives. If it doesn’t, the initiative is rejected or held aside for the future. Include in this group both leaders and employees. This enables employees -who wouldn’t otherwise have the opportunity – to be more involved in the organization and strategic decision making.
- Create a simple template for departments/business units to utilize for each major initiative that they want to undertake that addresses the following:
- What is the initiative?
- What are the estimated budget and resource needs?
- How does it support the strategic plan of the organization?
- What is the expected ROI of the initiative?
- The team set up earlier (see number 2 above) will use this information to evaluate the major initiative to determine if undertaking the initiative will help the organization move closer toward achieving its strategy.
On a quarterly basis, evaluate your strategy. Are you making inroads toward reaching your goals? What changes might you have to make to meet your strategic goals? Are your strategic goals still the right ones given changes in the organization, the marketplace, the industry?
