Buyers and investors in companies are buying or investing in the potential for future growth. They assess the organization for predictability of future earnings as part of their business valuation.
Ensuring the future becomes reality results not only from keen insight and excellence in execution, but also from overcoming any barriers to growth. Essential actions to overcome the barriers to growth include:
- Aligning the organization to the plan
- Reducing team dysfunction
- Defining competencies and behaviors critical to the strategy
Companies that achieve their growths goals establish processes and practices that embed each of these actions into the day to day activities of the organization.
Aligning the organization to the plan
Alert presidents & CEO’s know that an organization may agree with and understand a strategic plan but still not be aligned to it. There may be significant engagement with the need for the strategies and actions, while unspoken concern exists as to the path to the goal, the timing, and the roles and responsibilities of those charged with execution.
Alignment requires “adjustment of parts in relation to each other”. It is not uncommon for the strategic planning process to unconsciously limit input, minimize visibility of ideas and fail to resolve differences within the management team. These situations prevent development of the best tactics and priorities for the business and create risk that the management team does not agree on the actions, roles, and responsibilities. The plan may sit on a shelf.
Achieving an actionable plan and an aligned team requires participation that is broad but efficient; collaboration and consensus created by building on the best elements from many perspectives, experiences and capabilities, and agreement achieved through debate, dialog and resolution of differences. Incorporating these elements provides tactics and targets representing the best thinking of the business, and agreement around the goals, path, actions, and responsibilities.