It begins in the corporate board room, or at a meeting of the executive team. The CEO announces, “Time to get going on our new strategic plan!” A strategic planning consultant gets hired, takes up a fair amount of time and resources surveying the organization, and goes off to put together a flashy presentation of financial goals, strategy initiatives and tactics. The consultant’s final report gets bound in a handsome white binder, submitted to the CEO and executive team and then … what happens?
In most cases, nothing.
According to the Harvard Business Review, 85% of management teams spend less than one hour a month on strategy issues. Worst-case scenario? The organization falls victim to “white binder syndrome” and months or years go by with nothing to show for it.
To generate truly actionable results, a business plan must grow out of set of key strategy diagnostics. Too many strategic plans mistakenly measure their forecasts against one component only (usually a company’s finances). In fact, finances are just one part of three essential elements – finances, people and processes. Only by measuring all three in real time can a business move to the critical next step: execution.
Things get further complicated by the lack of meaningful communication within the organization. How well are strategic initiatives communicated from the executive suite to the rest of the company? Do front-line employees have a clear understanding of the company’s place in the market, the competitive landscape, the company’s vision of future? All too often, execution is stymied by the failure to get everyone throughout the organization on the same page.
CNC Strategy employs cloud diagnostics (including questionnaires and scorecards disseminated throughout the company) to measure the deployment of your three strategic assets and transform strategy into execution.
Information gained from these snapshots is accessible anywhere via the cloud and results are offered in real-time; there’s no reliance on lagging indicators or striving after some fruitless long-term “vision.” Find out more about how our unique strategic planning software will help your business measure and manage continuous strategic alignment and execution.