It’s That Time of Year…STRATEGY

Sun_Oracle_logoWhether you were busy building a budget or strategy in the fourth quarter last year or you put it off until the first quarter of this year, one thing is for certain…this is the time of year to “execute” that strategy!

When I ran a consulting practice at Arthur Andersen in the late ‘90s one thing was for certain. Those that used us to help build AND execute their strategy accomplished considerably more than those who just had us help them build their strategy. Why? Because when you have a million things going on in your business…and we all do…there isn’t a lot of time to execute the strategy you built. Everyone wants to but not many get around to it…sound familiar to anyone?

Mark Hurd, the President of Oracle Corporation, wrote a post on LinkedIn called, “Five Leadership Qualities Great Executives Must Have.” Here are the five…

  1. Getting the Strategy right
  2. Executing that Strategy
  3. Putting the right people in the right places
  4. Managing dual priorities that others see as conflicting
  5. Keeping everyone focused on what matters

However, he went on to take this list of 5 down to a list of 3 items in a commentary he gave to Business Insider, “The Only 3 Skills that Great Leaders Need.” This was even better since we all know it is easier to remember 3 things than 5. Here is his distilled list of three…

  1. Getting the Strategy right
  2. Executing that Strategy
  3. Putting the right people in the right places

So there you have it…strategy and people and you can’t go too far off course. But the people only work if the strategy is right and it is being executed. So this time of year, reflect with your management team about your strategy. If you don’t have one, get one. Get a strategy that means something, not that just sits in a binder gathering dust. Get an “executable strategy” as I used to call it, one that your people can rally around and be passionate about. Because if they don’t, even having the right people in the right seats won’t help.

 What are your thoughts on strategy? Do you and your company have one? Is it easily executable? Share your stories about creating a strategy that works…

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