How to Create a Documented Strategy That Works
Marc Bolick
Guiding your innovation journey, from insights to impact. | Founder & Managing Partner @ reshift.
Written by Manfred Gollent and Marc Bolick .
Having a documented strategy is foundational to achieving goals, whether it's at the organization level, an operating unit or for a transformation project. At reshift we have a point-of-view about strategy and we share our responses to some of the key questions leaders ask themselves when pondering strategy development.
When asked about the strategy for their business most executives, business owners, and leaders will tell a story describing a strategic direction. When asked more specifically about a documented strategy, in our experience less than 30% of these leaders say they have a documented strategy.
One of the key aspects of leadership is to set a vision, establishing the guiding North Star to which people in the organization aspire. Unfortunately, the vision and strategy are often crafted in isolation with only top leadership input. All too often, the vision is a lofty statement that is not unique to the organization, and worse, it is not connected to a documented strategy that outlines how the vision will be achieved.
?Considering that backdrop, let’s explore some facts about an impactful strategy plan.
"Unless a strategy is documented, leadership will tend to subconsciously and unintentionally adapt the strategy to the current situation."
Why is strategy needed in the first place?
The purpose of a strategy is to provide a stabilizing roadmap to guide the organization towards predetermined goals and vision. Strategy is the result of a process of examination of internal and external factors; it takes time and requires input from multiple stakeholders.?
?Once the strategy development process is completed, the resulting strategy needs to be communicated throughout the organization. This is where documentation of the strategy comes in.
?Unless a strategy is documented, leadership will tend to subconsciously and unintentionally adapt the strategy to the current situation. The risk here is that the original intentions of the strategy will be adjusted to the actual results, rather than the strategy providing the framework for achieving the targeted outcomes.?
Why is it so important that your strategic plan be documented?
The main reasons to have the strategy written down have to do with how the strategy is implemented and brought to fruition. While the content and the structure are critical for the value of the strategy itself, the actual document serves an additional set of reasons:
In short, a documented strategy serves as a crucial tool for guiding an organization's actions, facilitating cohesive communication, and ensuring that all efforts are aligned towards achieving common goals. It provides clarity, focus, and direction, which are essential for sustainable growth and continued success.
"If there is no way to measure whether the organization is making progress, the likelihood of achieving the organization’s goals is diminished."
What does a good documented strategy look like?
A good strategy document acts as an “enabling tool” that cohesively engages the organization toward a set of clearly defined goals, fostering organizational focus, and generating meaningful measurements of progress and success.
?While it is important that a strategy exists and is documented, the documentation itself needs to be understandable across the organization. Some key characteristics of a good strategy document include
?A strategy document that is clear, actionable, aligned with objectives, flexible, and supported by stakeholders also ensures that the organization remains focused on its long-term vision while being adaptive to changing circumstances in its surrounding ecosystem.
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What does strategy development look like?
The development of a strategy is a customized process of preparation and research, systemic thinking, evaluation, and design. While the conceptual process flow provides the basic steps for the planning process, each step itself is customized to the characteristics of the specific organization.?
The parameters for customized strategy development are many and include: the type of organization (i.e. a department, a division, an enterprise, even a large transformation project); its size, complexity, geographic dispersion and cultural diversity; the products or services the organization sells; the markets it plays in; and other factors.
Effective strategy planning requires a holistic approach!?
It is like building a house, for which it is crucial to establish a “strong foundation”. The foundation of strategy consists of three elements:
Once the foundation is established, the rest of the strategic planning process can take its course very efficiently. At reshift we follow an iterative process that comprises the following five stages:?
As we go through this process, we start with a fact-basis from the assessment stage. Only after taking a sober look at the current state can we move into envisioning the future.
The vision then provides an optimistic basis for the team to analyze the critical elements of the organization's strategy. This then sets the stage for the team to co-create and design the strategy together with leadership and key internal and external stakeholders.
Finally, the implementation stage is a continuous cycle of working to a set of goals and plans, tracking and measuring progress and, ultimately, leading back to a new assessment at the beginning of the next stratetgy planning cycle.
How do you get started?
There are several key questions to ask when embarking on a formal strategy planning process:
?Once those questions are answered, the timing, location, budget, and other relevant considerations can be determined and the work of strategy development can begin!?
?In the coming weeks we will be providing a strategy development toolkit for a DIY approach to getting started with strategy planning. You can be the first to know by signing up for our mailing list here .
?Of course, our expert innovation guides are always available to partner with you to co-create your strategy planning project and work through the entire process through to implementation. Let’s talk!
Co-author Manfred Gollent supports successful up-and-coming leaders, C-level executives, CEOs, and business owners in their development towards excellence in leadership effectiveness. Leadership and strategy development is his passion by helping clients to become the most effective leaders and culture innovators they can be! His coaching engagements include all aspects of leadership, strategy, sales & influencing, communication, goal setting, and goal achievement.
Co-author?Marc Bolick ?is founder and managing partner of reshift, an innovation support partner for leaders and teams seeking Big Change. He draws on decades of experience in product and service innovation to facilitate collaborative problem solving and drive impact for the most complex challenges organizations face.
Nowhere guy | author of #YOGAi | designing from the emerging present | founder ideafarms.com | white light synthesiser | harnessing exponentials | design-in-tech and #AI advisor
1 年Your take on Peter Drucker's famous, "Culture eats Strategy for Breakfast."?