BBA’s pills for leaders
A growing complexity together with internal and external forces, challenge how you run your business...
Having a strategic plan is crucial to addressing the impact.
STRATEGY START
Developing a bold but executable strategy starts with making sure that leaders have addressed the questions of
“What are we great at? ” and “ What are we able to achieve?”
Leaders recognize that the planning and budgeting process as well as the right and punctual set of KPIs are some of the most important tools in
closing the strategy-to-execution gap...
STRATEGIC PRIORITIES
As a Leader of your company, use the below BBA’s checklist to assess whether your strategic priorities will be effective in setting a shared strategic agenda for your organization and driving implementation of the agenda.
Characteristics of effective strategic priorities
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Limit objectives to just a handful |
Limiting strategic priorities focuses on what matters most and can serve as a forcing mechanism to drive difficult trade-offs among conflicting objectives |
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Focus on the mid-term |
Strategic Priorities typically require 3 to 5 years to accomplish. Annual goals are too tactical and longer-term goals too abstract to provide concrete guidance |
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Pull toward the future |
Strategic priorities should focus on initiatives that position the company to succeed in the future, not reinforce business models or strategies that worked in the past |
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Make the hard calls |
Strategy is about choice, and strategic priorities should tackle head- on the most consequential and difficult tradeoffs facing the company |
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Address critical vulnerabilities |
Strategic priorities should address the elements of the strategy that are most important for success and most likely to fail in execution |
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Provide concrete guidance |
This should be concrete enough that leaders throughout the organization could use the strategic priorities to decide what to focus on , what not to do, and what to stop doing. |
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Align the top team |
Strategic priorities should provide a framework for how the company as a whole will succeed. To do so, they must be agreed upon by all members of the top leadership team |