Five Steps for Strategy Formulation and Execution
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The three questions that summarize Strategy: 1. Which Jobs to Be Done do we target? (Where to Play) 2. What Solutions would best help do those jobs? (How to Win) 3. Why can't we deliver those Solutions ... by tomorrow morning? The latter is the strongest question of Strategy, because it tells us what required capabilities are we missing, or are not adequately configured, and what required activities can we not perform. Resulting from that, are the Strategic Gaps that we have to close. That's what we should focus on, as those gaps clarify for us the path from desire to action, and allow us to plan, perform and adapt the execution of our Strategy. https://bit.ly/strategy-3-questions
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Five Steps for Strategy Formulation and Execution
- 1. Which Jobs to Be Done? Jobs arise in people’s lives and along the evolution of the organizations that they manage. Which of those jobs do you want to help those people do, in the best way possible? Where to play?
- 2. What Solutions? If you would be in the shoes of those who have those Jobs to Be Done, for themselves or for their organizations, how would the Solutions to best do those jobs look like? How to win?
- 3. What exactly stops you from delivering those Solutions … by tomorrow morning? What required capabilities are you missing? What required activities can you not perform? Open up the discussion within the organization for finding the best answers to those questions. Why not tomorrow?
- 4. That’s your Strategy! Close the gaps of the required capabilities that are missing, or that are not adequately configured. Close the gaps of performing the required activities, as well. Figure out how much time you have for that.
- 5. Close the gaps of the required capabilities that are missing or that are not adequately configured. Close the gaps of performing the required activities, as well. That’s your Strategy! Build a Strategic Plan with causality-driven objectives. Be aware of your chains of hypotheses. Align the Strategic Plan within the organization. Integrate it operationally. Perform plan corrections. Adapt the Strategy when hypotheses turn out as invalid. Execute the Strategy!