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Seven Strategy Questions: A Simple Approach for Better Execution ReviewIf you are looking for a book on how to develop your company's strategy - this isn't it. Yes, it is important for a company to spend time and effort to formulate their strategy, but execution of the strategy is often given less thought and planning. The seven questions in this book get you thinking about execution, which is the reason you have a strategy in the first place. The questions are presented as chapters and include the following topics; Customers, Core Values, Performance Measures, Boundaries, Tension, Commitment, and Uncertainty. While all the chapters of the book are well presented I found the two related to performance variables and core values to be the most interesting.
Performance measures are often presumed within an organization rather than an area that is continually analyzed for impact and support of the company's overall strategy. Managers may measure certain variables because that is the norm or expectation within a company without a clear understanding of which variables are actually the most important and how they are linked to the company's overall strategy. The chapter related great examples from large organizations like Citibank, Marriott, and Home Depot but I think a basic example of this type of presumed measurement is sales management reporting. Sales managers have all sorts of variables to measure; dollars, customer interaction, pipeline growth, deal closure time, and so forth, and will often jump from activity based reporting to performance reporting without a clear relationship of how and what measures relate up to the strategy of the company. Their intentions are good ("we want better results") but their performance measures may not compliment and support the overall strategy. Without strategic performance variables that guide all levels of management a company runs the risk of measurement for measurement sake or worse, contradictory execution. The questions related to the performance variables and how to build accountability for these can guide your thinking and help align the strategy and the measures of a company.
The core values of a company should flow in and around the organization like the weekends sports scores, last night's reality TV, or the major client win by the home office. In other words, they should be openly discussed and evident in daily activities.The values should also translate directly back to the prioritization of the company; either the employees, customers or shareholders. If the core values and the focus of the company are not aligned it will be difficult to make hard decisions and gain organization-wide commitment.The books pharmaceutical examples are vivid on this subject and really make you think about how values and prioritization need to be understood.
While people normally jump to the conclusion that the priority of a company is always the customer, they are often wrong and will actually argue the point that their position (customer is the priority) is the only true priority. How do I know this? I was reading the chapter on the question of core values supporting a company's focus (shareholders, employees or customers) while I was traveling during the Thanksgiving holiday. I had several people give me their unsolicited opinions about why a company should focus on one versus the other (for example customer rather than employee) just be seeing the chapter title. I guess they were reading over my shoulder and couldn't resist the chance to weigh in on the subject. You know you are reading a good book when strangers strike up conversations just based on the chapter title.
I highly recommend this book for anyone interested in strategy and how to resolve that strategy into execution.
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