Beckway Insights – Strategy Deployment

It is critical for all businesses to define strategy and align performance expectations with business leaders to achieve financial and operational objectives. Many businesses continue to grow despite economic difficulties, while others face declining revenue and decreased customer demand due to the shifting economy. All businesses require a “Strategy Deployment”, beginning with defining specific strategic direction by the C-Suite and tracking performance financially and operationally. In fact, companies with C-suite-led strategic initiatives generally achieve 3-5% higher returns than those that do not.

Optimizing business performance starts with “Strategic Deployment” and aligning business priorities. Using best practices ensures business performance and is the key to consistent business growth. The following best practices outline a path to successfully defining and communicating “Strategic Deployment” for a company:

  • Use an X-matrix or similar tool to translate long-term strategic priorities into short-term initiatives for the business, and involve leaders at all levels. This creates transparency into the strategic direction and alignment of operational and financial priorities and should occur annually.
  • Define business metrics and limit key financial and operational metrics to approximately 10. Additional metrics should be monitored at departmental and functional workstream levels.
  • Report on metrics and key business drivers monthly in a business review format to ensure accountability and effective trending of performance.
  • Use a Project Management Office (PMO to facilitate and report on key projects aligned with the business strategy. This ensures effective execution of key projects.

Effectively aligning business strategy with business initiatives is the key driver to achieving investor outcomes. Beckway has decades of experience working with C-suite leaders to execute “Strategic Deployment” for businesses of all sizes and with management teams to execute strategic initiatives, driving financial and operational outcomes and enterprise value creation.

For more information on how Beckway can help lead “Strategic Deployment”, please reach out to Chuck Shifferd, the leader of Beckway’s PMO Practice.