Execution

Uncover critical company issues

Instructions

Define the critical issues that impact your business strategy.
Begin by identifying market opportunities, competitive threats, and your organization's strengths and weaknesses. These are the foundations of your strategy. Ask yourself: What are the key factors driving our success or failure in the current environment? What are the biggest risks we face? This step ensures you're addressing the right problems from the start.
Evaluate the assumptions behind your strategy.
Analyze the assumptions that your strategy relies on. Are they realistic? For example, if your strategy assumes market growth, check if that growth is supported by solid data. Ask: What are the key assumptions we're making? What will happen if one or more of these assumptions fail? This reflection helps you avoid pitfalls and strengthens the plan's foundation.
Pinpoint the key building blocks of your strategy. Break your strategy down into a few key actions or principles that drive it. Ask: What are the three or four most important elements that define our strategy? For example, if you're in manufacturing, you might focus on cost reduction, product differentiation, and market expansion. Clear building blocks help keep the strategy focused and manageable.
Assess if your organization can execute the strategy.
Ensure you have the capabilities to carry out the plan. Do you have the right people, processes, and resources in place? What gaps exist in your organization’s ability to execute? Identifying these gaps early allows you to address them before execution begins.
Link your strategy to the people process.
Make sure your strategy includes a plan for aligning people with their roles. Ask: Do we have the right team in place to make this strategy happen? If not, how can we bring in or develop the talent we need? This step helps ensure your strategy is grounded in the reality of your workforce’s strengths and capabilities.
Test and adapt the strategy regularly.
Review and refine your strategy periodically to ensure it stays relevant. Regular check-ins ensure the strategy adapts to changing conditions in the market or within your organization.