Do you have a clear purpose and well defined goals?
Value creation is an iterative process, a journey created by the people in the company, originating from the overall purpose, direction, and goals, which constitutes is a natural part of the company’s strategy.
Strategic direction is the long-term focus, and although it develops and changes over time, it must constantly and consistently be handled, made visible through a clear and ambitious purpose, and repeatedly communicated to avoid confusion.
It is necessary to frequently revisit and rethink the strategy, and even consider a new business model, depending on the future opportunities and threats – it is not necessary the best business, just to continue with the existing business model, even though the alternative seems unmanageable.
Are your business and your market in synchrony?
As a leader, you must ensure that you have a double-strategic focus – a focus that goes both outwards and inwards simultaneously at the same time, to ensure a strong coherence within the company that is synchronized with the external market conditions.
Strategy is a combination of analysis and thinking, thus both elements should equally influence its execution.
Do you also find it easy to drift away from the strategy?
People are always at the core of a strategy and as the saying goes: the culture eats strategy for breakfast as habits are hard to change. To ensure the implementation of the strategy and its goals, it must be action-oriented and executable through everyday actions. It’s all too easy to drift away from the strategic direction in everyday life, so stay focused.
Often an evolutionary rather than revolutionary approach to strategy is experienced – the most important is to constantly move in the direction of the strategy and take steps towards the market – preferably a step ahead with the help of an ambitious goal.
Value-creating leadership and sustainable growth
In several areas, we are looking into a transformation of companies, to meet the demands of several stakeholders, e.g. consumers, employees, and investors.
It is value-creating leadership and sustainable growth that we must have on the field….