Corporate Strategy
Impact of the Financial Crisis
In a matter of a few short months, virtually every business strategy in the world suddenly became obsolete.
Back to Strategy
Most organizations have been forced to focus on short-term, tactical approaches to reduce expenses. At the same time, those businesses fortunate enough to grow in this period suddenly have a whole world of new options for growing market share through organic growth, mergers or acquisitions.
It is a new world, full of challenge, opportunity, risk, and uncertainty.
Strategic Planning is the process of building a shared vision and plan, and a common understanding for how the vision will be carried out. The process of building a shared vision starts with the executive team.
Think about your executive team today
Does a common vision still exist? Do you find that some members of your team are suddenly suggesting bold actions that don’t fit the existing strategy? Has your team shifted to a tactical focus to the extent that no progress has been with strategic initiatives? Have you downsized to the point that there is no feasible way to implement your strategy? Are you considering downsizing and consolidation, even though your plan called for growth?
Have you taken the time to assess the competitive landscape, your financial position, your organizational strength, and the potential for wild success or abject failure? Risk is everywhere – which way will you go?
It’s Time to Rethink Strategy
We can say this with a degree of certainty, because the financial crisis has permanently and radically altered the business landscape on a global scale. Our governments are taking unprecedented steps to provide stimulus – which will set off a tidal wave of market forces we’re only beginning to understand.
TLG hasn’t been immune to these forces. Our vision for 2009 had been to expand some of our technology-driven initiatives. In the wake of the crisis, however, the potential for these advances have been eroded, while the market demand for experienced business strategists will easily surpass any peak we can recall in our experience.
For us, the change brings us closer to the foundation of our business, so we have been blessed that this decision is a relative “no brainer.” For us, it means we continue a steady course, and save expansion in other areas for later.
For other businesses, however, the challenges and decisions are much more complex, with much more at risk. Capital-intensive businesses, for instance, may need to examine how best to consolidate and restructure operations. Complex businesses require surgical precision when downsizing, taking care to not cut vital capability that could jeopardize the success of the entire organization. Businesses considering acquisitions must consider the implications of merging operations and cultures in a dynamic business environment.
Strategy Execution
Having established the need for revisiting strategy, it’s important to avoid the risks of flawed or poorly executed strategy – especially in this environment.
The number one reason Strategic Plans are not executed well is a lack of adequate definition (vision, mission, goals, and objectives.) TLG helps you to address each element of the strategy so that it is defined in detail. In this way, we help you to align your organization and bring clarity, so that the strategy is executed effectively.
The number two reason for execution failure is inadequate investment in developing and managing a comprehensive implementation plan. TLG uses appropriate management tools required to ensure effective, efficient, and successful execution of goals and the objectives.
More importantly, because we have hands-on experience leading execution efforts, we are keenly aware of how easy it is to develop strategies that require far more resources than the organization has available. Strategies that attempt to drive too much change too quickly lead to an organization that is spread too thin, and cannot meet critical milestones. When this happens, employees become frustrated, complacent, or shrug their shoulders at the latest management initiative that won’t work. Worse, expansive strategies can result in potentially dangerous fragmentation of efforts.
That’s why we work with our clients to focus on strategies that are highly focused on building brand, customer loyalty, and profitability with laser focus. By developing customer-focused strategies that provide a differentiated value proposition, many initiatives that are internally-driven may be completely dropped, driving immediate savings.
Organizational Readiness
Almost invariably, Strategic Planning efforts help to identify organizational weaknesses. Depending on the duration and nature of your plan, we can step in to support your efforts and build momentum immediately with our Interim Executive services or Contract Consulting services. For roles that require a permanent position, we can assist you to either develop internal candidates or identify, interview, and vet candidates using our network of permanent recruiters.
We ensure that your strategic planning effort results in tangible progress quickly. Our flexible approach to helping you build organizational readiness is an one of the key benefits that our clients experience. Because of our hands-on experience and depth of capability to support plan execution, you don’t need to worry about us heading for the exit the day the plan is delivered. We value your business enough to invest in our ability to support you through the vital transition from planning to execution, ensuring that you have the appropriate team in place to succeed.
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