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Recent News
Making Strategy a Reality
By John G. Stockman, CISA, PMP, CBCP, MSIS
Recently, I have become more embedded than ever in helping organizations come up with a strategy. Now, we all know that the term strategy is really a code word used by most organizations to say, “We know something is wrong with our business, but we can’t pinpoint an exact reason.” Invariably, these organizations will, at the expense of the obvious, embark on a time-consuming and expensive process to develop a new strategy.
Now, there are a wide variety of approaches used by organizations to get that strategy built. The larger ones with more money to spare will hire a large, well-known consulting firm staffed with expensive experts to come in and give them the answer. I often refer to this as the “Mongol hoard” approach. The organization is invaded by a small army of consultants who set up shop for weeks or months and charge you for every phone call, lunch break and late night meeting. In the end, they deliver a master’s thesis to you and your executive team in a spectacular PowerPoint presentation that everyone hails as just what was needed.
Some organizations take a different approach. In recognition that spending huge sums of money might now be the best approach, the sometimes turn to internal teams comprised of people with business and strategy backgrounds. In some cases, there are actual departments where this function resides. In others, it’s merely a group of people cobbled together for a special project that is levied on them in addition to their daily work. Results here usually take longer and are far less spectacular. Usually, there is a small presentation to the sponsor who then carries it forward to a group of executives who, in turn, use this as a way to support certain decisions and spending justifications.
Smaller organizations sometimes hire people like me to come in and help out with certain projects that evolve into an evaluation of their business gaps in hopes of gaining backing into a strategic plan. Sometimes it is a useful exercise and can point out some very quick changes that could help the organization.
Regardless of the approach to developing a strategy, I find there are always certain common threads that really are the core of the issues facing an organization. These are by no means a universal truth, but seem surface at the end of these projects.
- What’s Next? – Regardless of the manner in which it was developed, most organizations will struggle to implement a strategy and follow it through to a successful conclusion. Simply put, strategy implementation will always take a back seat to the crisis of the day. Operational concerns and the need to keep customers happily generating revenue is the priority for any organization. There is simply not enough bandwidth to focus on both in most organizations.
- Who’s In Charge? – You can create any strategy you want and everyone can agree that it is the right thing for the organization, but it will invariability fail without a dedicated, empowered champion with the will and authority to drive it through to conclusion. Often, there is an initial struggle inside an organization as to who “owns” the strategy. The winner often starts out strong, but is unable to overcome the political roadblocks thrown up by the losers. This spells certain doom for any strategy project.
- When Are We Done? – Impatience is the enemy of strategy. By definition, strategy is a long term, focused approach that requires attention and adjustment as it is implemented. Usually, strategies focus on a series of events and large-scale changes over a period of years to achieve the desired results. That allows for the changes in the market, business climate, regulatory environment and customer desires, just to name a few factors. More often than not, strategic plans are never given the time, resources and attention they need to be successful.
- How Much Will This Cost? – The statement “you have to spend money to make money” applies very directly to a strategic plan. It’s an investment in your organizations future. Most organizations will spend more money to develop the plan than they will to fund its implementation.
Each of these issues should be considered carefully prior to any strategy development effort. The practical reality here is that developing a strategy is not an event. It should be an embedded part of the organizations ongoing growth and development. It cannot be decoupled from the daily operations or the road to success.
