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Welcome to my blog, my name is Paul Dunay and I lead Red Hat's Financial Services Marketing team Globally, I am also a Certified Professional Coach, Author and Award-Winning B2B Marketing Expert. Any views expressed are my own.
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I’d love to compare/contrast the stick to your strategy recommendation for established companies to the start-up guidance of “what you start with won’t be what you end with.”
Kevin
I can say he was harping on the fact that you need a strategy in place for at least 3 years to ensure it gets instantiated.
But in this fast paced information led economy we find ourselves in (as you suggest) is that even realistic?
Business leaders need to have a strategy for providing direction; however, often developed and communicated strategies are difficult to translate into specific employee actions. One organization communicated a strategy of “expansion of production capacity.” Is this the right thing for all produced products? This would not be true for most situations.
Organizations often lead from a strategy, which can change over time and with leadership changes. Strategies are important; however, is it best to have strategy-building as step one from which organizational metrics and operational goals are determined?
Jim Collins in “Good to Great” describes a level five leader as not only a great leader when they are at a company but the company maintains greatness when the leader leaves the company. The question I ask is: can a company have a “level five” system, if leadership orchestrates the business from a step-one-strategy-building system. I don’t think that it is possible to create a level-five system leading from a built-strategy-first system, unless current leadership, which is doing a great job, can be cloned.
I am not saying that strategies are bad but an organization can find it more beneficial if they first build a long-lasting value-chain system (i.e., functional operations with 30,000-foot-level performance metrics), which maintains stability through leadership changes; i.e., a potential “level five” system framework.
From a value-chain, an overall business governance system could then blend analytics with innovation to determine targeted strategies that benefit the enterprise as a whole. This whole-enterprise assessment can be made relative to satellite-level (financial) tracking metrics, which can have revenue growth and profit margins goals.
Integrated Enterprise Excellence (IEE) provides a framework that addresses the above described issues. In IEE, strategy-building is step five of a nine-step process. IEE helps an organization not only create effective strategies but also helps organizations move toward achievement of the three Rs of business; i.e., everybody doing the Right things and doing them Right at the Right time.
Forrest – thank you for your comment
I wasnt aware of IEE and will research it to get a better understanding
Attention-grabbing detail. Appreciation pro the info!