46. Do you REALLY understand your company’s strategy?

SUMMARY

Do you REALLY understand your company’s strategy?

Research suggests that over 90% of employees do not understand their company's strategy? If true then there is a large amount of work being done that does not align with the strategy. 

Transcription

Do you REALLY understand your company’s strategy?


Welcome back to our leadership series from Beyond the Numbers. Today's topic I'd like to talk about is the benefits from having a clear understanding of your company's strategic intent. Now why is that important? Well, researchers found that over 90% of people don't actually know. So how do you think that impacts then when you're trying to execute that intent. If you don't know it, if it's not cascaded definitely through the business, there's not clarity around this, then it's very unlikely you're gonna deliver the full results that the company's expecting.

1. Strategy on a Page

So. I'm suggesting to leaders that I interact with is that read up on your company's documentation, understand the strategy. And if there's a strategy on a page, even better 'cause that's a condensed version. But take it further than that. Go and engage with senior executives and ask them around that strategy, what are they trying to achieve? Where are they heading with it? What time frames they're looking at? How will your work contribute to that? Get clarity around those things. Because the real benefit comes in is once you learn that the strategic intent, and what the organisation's actually heading toward and trying to achieve.

2. Mission and Values 

then next thing is learn and memorise the mission and values. It's organisations where this is the norm, it's amazing when you go into an organisation and anyone at any level in that organisation can articulate the values and their meaning with absolute clarity. They can tell you where we're heading and why we're heading there. So they're clear on the mission. And that enables them in so many different ways. But my gosh, does it seem so professional when you're engaging with them.

3. Benefits

The next thing is, so what are the benefits? Let's sum that up. They're saying fully informed builds your confidence. As a leader this is really critical. If you're really clear on this stuff, you can articulate it, you can do it with confidence, and it flows into everything you do. And then obviously that flows on through your team.

Communicate

Next thing is understand, understanding means that you can communicate well. So, in any situation, whether it be meetings, you're addressing a large group, a small group, or even working within your own team across functional groups. If you're very clear on those things, you can always make links back to help them see how the work they're doing aligns with the strategic intent. That gives meaning to the work that they do, and helps them understand and reduce the deficit around people understanding the impact of a strategic intent. So, sharing that comes from that sense of confidence that you understand and know.

Execute

Next thing, it enables you and your team to effectively execute the output from your team, so that you deliver on those expectations. Now that's always a good thing. If you can surprise your leader by consistently delivering quality input in a timely matter, output in a timely manner from your team, then that's gonna always benefit you and your career. Because they'll see you as being somebody who actually commits to and delivers on what they say.

Build Relationships

And the last, but not least is, it builds relationships at multiple levels, by engaging with those senior executives and asking the right questions, and hopefully the intelligent questions, builds the credibility with them as somebody who's intentionally interested in getting the right outcomes for the organisation. It's really, really beneficial in building those relationships across functional groups, because you can communicate clearly and show that alignment through your understanding. And then it also establishes real credibility with your team. 'Cause people look to the leader as having the answers to some of the stuff, and that's one minimum if you like. 'Cause if you don't know where you're going and why you're going there, it's very hard to take the team successfully in that direction.

So pull that all together, and you're gonna set yourself up for success, and set your team up as well. So I wish you well, and we'll catch you in the next series of videos.

If you would like to work with me on developing leadership skills in your business. Talk To Us

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