Strategy: The third of four key success drivers
For an organization that embraces ValueGroove, there are four key drivers of organizational success: Culture, People, Strategy and Management Process. In this entry we will briefly review the essential elements of the ValueGroove approach to strategy.
ValueGroove Strategy—the big idea: Establish a focused, clearly articulated strategy, that is based on delivering superior value to a targeted set of customers, and communicate that value proposition effectively to the target customers.
What to do
- Identify market opportunities and what is driving them (technology, demographics, industry shifts, government policy, etc.)
- Identify the organization’s assets (capabilities, relationships, intellectual property, etc.)
- Identify focused activities in which the organization can add superior value (based on its assets), for clearly identified customers
- Achieving superior results versus competitors who are more reactive
- Providing a clear context and framework that allows great employees to tap their own energy and imaginations to advance the organization’s strategy and values
- ValueGroove Roadmap
- ValueGroove Strategy Process
- Not really having a strategy
- Holding occasional offsite strategy sessions and developing some promising ideas for a new strategy, perhaps even setting some long-term goals, but then losing focus on those goals in the face of day to day fire fighting
- Having a financially driven strategy that is not based on creating superior value, and that leaves the organization without a true direction