To create value, organizations need to have strategic alignment all the way from Vision to key initiatives.
by Sarosh Bhatti
Aviation Enthusiast - Strategist - Analyst - Forecaster and Planner
October 4, 2024
The alignment or the strategic pyramid can be divided into three layers i.e purpose, strategy, and execution. Each layer is critical and has a set of activities.
Wendy McGuiness (2011) has articulated the concept in 9 key pillars of successful strategy and its execution and the details are.
A) Purpose:
1. Vision:
Paints a clear picture of the desired future state of the company, providing direction and inspiration by answering the question "Where do we want to be in the future?"
2. Mission:
Defines the fundamental purpose or reason for the existence of the corporation, answering questions like "Why do we exist?" and "What is our core reason for being in business?"
3. Values:
Sets out the guiding principles and beliefs that shape the corporate culture and decision-making processes, reflecting the organization's ethical standards and desired behaviors.
B) Strategy:
4. Strategic Intent:
Outlines the overarching goals and objectives of the organization, defining the desired outcomes and the path to achieve them.
5. Drivers:
Identifies the key factors or strategic priorities that will drive the company's success, such as market expansion, product innovation, cost leadership, or customer experience.
6. Enablers:
Represents the resources, capabilities, and infrastructure needed to execute the strategy effectively, including technology, human capital, financial resources, etc.
C) Execution:
7. Targets and Initiatives:
Sets specific, measurable targets and initiatives aligned with the strategic objectives, providing actionable steps to move the organization forward.
8. Performance Indicators:
Establishes metrics and key performance indicators (KPIs) to track progress toward goals and assess the effectiveness of strategic initiatives.
9. Strategy Map:
Clearly communicates the corporate strategy and ensures alignment across the organization.