Rethinking The Business Strategy

FranklinCovey Vietnam wants to contribute a perspective to the strategic story, which has always been a hot topic that most leaders are interested in. Books and schools also prioritize teaching about strategic planning and implementation. Therefore, this article will share about the thinking path that many businesses have when discussing strategy. 

 
Strategy is a boss's big deal? 
  
Few employees pay due attention to the company's strategy. "Strategy is your boss's big deal, not yours," many employees say when asked if they understand your organization's strategy. 
  
Once there is a rupture in understanding and articulating strategies, not making them the day-to-day work of employees, that's when engagement declines. People don't have a clear idea of whether what they do is important to the organization, on the contrary, they don't know what they should quit. The job description is not updated, but if it is, it is also enumerated and has nothing to do with the organization's strategy. 
  
"Without engagement, there are no cohesion," said by Dr. Stephen R. Covey. He suggests that strategy should not stop at the leadership level but at the bottom of the individual. They decide what they do or not do, track progress and measure how effective they are to be a part of the organization. The lack of a sense of belonging to something bigger than yourself is what causes the team to get depressed. 
  
What is a strategy and how to do it? 
  
Of course, strategy is the activity of defining a sequence of things that need to be done to achieve the set direction and goals. However, the best businesses are those that instead of talking a lot about "what to do?" and "how to do it?", they choose to shift their thinking to "what to spend?" and "how to spend?" to be able to give top priority to the most important goals. 
  
We live in a world of information and opportunity. Good leaders are people who see opportunities in all situations. But it is also this that causes them to fall into the trap of distraction, dizzying changes that paralyze and create inhibitions in the team. Leaders wish they had more resources to do whatever they want. Employees wish the leadership had changed less so that they wouldn't be confused and burned out. The principle here is concentration. Strength lies in the convergence of resources on "paramount" goals instead of "quite important." The skill of recognizing what to give up is more essential than knowing what to do. 
  
The strategy of just "signing"? 
  
We have a myriad of "sign" strategies that are game-changing. Deciding to raise charter capital, buy ERP software, invest in more factories or develop new sales channels, these are examples of strategic decisions that are classified as "sign" as game changes. Of course, this is extremely important, but it is only half the story.  
  
The other half of the strategy lies in the new thinking and behavior of the team to serve the above types of strategies. Not every ERP software is a smooth management. It is not just about developing a new sales channel that customers will be satisfied. If a leader forgets a behavior-based strategy and lets it happen by default, that's not okay. What belongs to thinking, behavior also belongs to culture. The father of modern governance Peter Drucker said, "Culture eats strategy for breakfast." So what if we had both of "sign one is done" strategy and a strategy based on behavior transformation? Surely the power will double and triple. And most importantly, when the goal has just been achieved, the business inherits the excellent thinking and behavior that the strategy implementation process has left for the team. 
  
Strategy is inherently a difficult but learnable subject. The problem is that we need a highly principled approach to turning strategy into sustainable results based on cognitive and behavioral transformation. Certainly, thiss requires effort at every level of the organization. 
  

Training Program   Increasing strategic execution & creating a culture of high performance to achieve superior results Exclusive Solution from FranklinCovey LEARN MORE