Company A: Accelerating Strategy Execution

CONCEPT: Instead of rolling out a new strategy created by top management through traditional communication processes (speeches, town meetings, videos, etc.), engaged the top 250 executives in a “Creating Our Future” workshop to both improve the strategy and build unity and alignment.

OBJECTIVES: Create the best possible strategy; build deep understanding and ownership throughout the organization (strategic unity and alignment); develop strategic skills of participants; and identify the critical success factors for implementation

PROCESS:

  • Created a custom-designed workshop for groups of 25, made up of a cross-section from all parts of the company. Completed in 8 months.
  • Convinced the top team to stamp their new strategy as a “draft”
  • Participants conducted a strategic analysis of their industry with outside experts and key customers. Then, applied what they learned (and already knew) to create an enhanced strategy and identified the critical success factors for implementation. Finally they presented their work to the top management team.
  • At the end of the year all 250 attended a leadership conference where the final strategy was presented.
  • The 250 then led a process for cascading the strategy.
  • Every two years or so they conduct similar workshops on strategic issues

POSTSCRIPT: The company CREDITS the workshops with movement from mid-industry to top financial performances rankings and significant stock price and P/E increases. They also feel that collaboration across functions and business units has significantly improved. And that this positively impacts the effectiveness of their executives and their ability to serve customers.