Clarify Corporate Strategy & Identify Corporate Gaps
Strategic Initiative Part 2: Clarify Corporate Strategy and Identify Strategic Gaps, is Part 2 of a 6-part series to Identify, Develop, Execute and Operationalize the right initiatives to Grow & Transform businesses while furthering the achievement of the business Vision, Mission or Purpose.
This Strategic Initiatives Series is packed with Strategies, Tips, Processes, Insights, History Lessons, and Applications that can be tailored to your business. Getting through; Business Complexities, Interpretations and Unknowns that cloud & obstruct the business from achieving its Corporate Strategy; with control.
Part 1: How to Identify Strategic Initiatives
- – Defined Strategic Initiatives
- – Differentiated Strategic Initiatives from other special projects undertaken by the organization
- – Introduced NMCS 7-Steps Strategic Initiatives Process
Part 2: Clarify Corporate Strategy and Identify Strategic Gaps
Part 2 of our Strategic Initiatives Series details Steps 1 and Step 2 of the NMCS Strategic Initiative Process.
Step 1: Clarify Corporate Strategy
“The purpose of Step 1 is to unpack the business corporate strategy, and through a series of progressive elaboration, identify success principles and corporate goals, that best serves the achievement of the business corporate strategy.”
We achieve this Purpose in 4 steps:
- Context: We discussed the importance of having a Corporate Strategy the entire business can rally around, clarifying that even an informal version of a Corporate Strategy is better than not having any direction at all.
- Strategy: Using Objectives to stay focused on your Goal, discussing how Objectives anchor you to what you want to accomplish when you get busy. The video states, “As we get busy, deep in the weeds of any project, without an anchor, it becomes easy and justifiable for us to be pulled into multiple conflicting directions. Having an Objective helps us to stay focused on what we are working toward and re-centres us when conflicting priorities arise.”
- History: We then leverage our understanding of Apple’s history as a valuable teacher to discuss two Strategic Alignment Management Missteps and what Steve Jobs did to avoid these management missteps.
- Execution: Then we discussed NMCS Strategic Alignment Process, diving into the 6-Step that methodically analyzes the Business’s Corporate Strategy to define corporate goals the entire team can rally around.
Step 2: Identify Strategic Gaps
The Purpose of Step two is to identify obstacles – Strategic Gaps – that prevents the business from being able to execute the activities necessary to achieve its Corporate Goals.
And to achieve this, we used a 5-Step process to analyze the business’s current state, its ideal state, and through a process of elimination, home in on Strategic Gaps.
See full details below:
Part 1: Strategic Initiative Part 1: What is Strategic Initiative? – NM Corporate Strategy