What is the cost to your organisation if you fail to execute strategy successfully?
That’s really not an easy question to answer. For one thing, some external threat might occur – like Covid. How does one account for that? You can’t. But you can be better prepared.
This model may be a bit “simplistic”, but it works to focus your priorities and actions around your strategy. And should that not be our first consideration?
We have 2 starting points – where you are now, and where you want to be. The difference between those points is your Strategic Plan.
Whether you’re a R10m organisation wanting to grow to R20m, or a R100m organisation wanting to grow to R300m, it’s the same. The value of your Strategic Plan to you, is the difference between those 2 points. Let’s say you’re at R100m, now you’re trying to get to R300m. Your strategic plan is worth R200m to you.
Then, what are the 3 to 5 (not more than that) strategic initiatives that are going to get you there? And how much will they contribute to the R200m? For example, let’s say:
- Improve customer service by 20% will contribute 40% – so the value to the strategic plan is R80m
- Reduce cost of sales by 10% will contribute 20% – so the value to the strategic plan is R40m
- Improve employee experience by 15% will contribute 40% – so the value to the strategic plan is R80m
Now we have some estimates on the negative ROI if we fail to achieve the strategic plan.
The OKR Framework works on weekly, monthly, and quarterly cycles, so, if the unexpected happens, like Covid, we can react faster and make adjustments to help achieve the strategic plan. The OKR framework is fast becoming the No 1 tool for successful strategy implementation. I’d love to meet with you to discuss how it might be useful for one or more of your strategic initiatives.
We look forward to meeting you.
Agile OD Facilitator/Coach/Consultant
We provide modern Organisation Development advice, solutions, services, and products, at the intersection of business, technology, and people, to help our clients adopt and adapt to the New Ways of Working – Agile, Digital, Work-from-Anywhere – and become Future Fit. We’d love to work with you too.
Cell: 083 654 6480