Over the past 22 days, we’ve been discussing strategy.
In our last post, we shared how just improving your operational effectiveness can be a viable strategy.
Once those strategic decisions have been made, how do you get everyone moving in the same direction?
Gadiesh and Gilbert introduced the idea of a strategy principle – which is a memorable and actionable phrase that distills a company’s corporate strategy into its unique essence.
The authors give three hallmarks of strategic principles:
- Strategic principles force trade-offs between competing resources
- Strategic principles test the soundness of the decision by linking the strategic decision to boots on the ground action
- Strategic principles set clear boundaries for employees so they can operate and experiment.
An example strategic principle is Southwest’s, “meet customers short-haul travel needs at fares competitive with automobile travel”
Give some thought to your company’s strategic principles as a way to communicate your strategy.
Need help with your strategy? Contact Us.