The current economic environment has revealed numerous weaknesses in our financial and regulatory systems. We regularly hear from our clients about the challenges they face in financing sound business plans for expansion into new markets – it is just not simple to access the funding required to make innovative change and take on new challenges. While this can be extremely frustrating, it reminds us of the importance of returning to basics – to reflect on some true fundamentals of business that will continue to drive success in any market conditions. In our experience, organizations consistently outperform their competitors and thrive in difficult economic times when they:
Establish a clear vision of who they plan to become;
Constantly communicate that vision so everyone understands the bigger picture and sees their role in translating that “picture” into reality;
Develop a 12-18 month action plan, with SMART goals and action steps that guide how resources will be utilized to attain that vision; and
Monitor and measure progress at regular intervals throughout the year to ensure the plan remains evergreen and that resources across the organization remain in alignment.
The article below picks up on this theme of measurement and “alignment” – what it means and why it is important. We have seen some incredible results for clients who choose to focus on alignment, assess the degree to which all of their resources are being consistently channeled towards their overall goals, and who regularly measure whether the changes they are making are increasing or decreasing strategic alignment within their organization. As always, we hope these insights help you in your efforts to grow and prosper!