Over the past 23 days, we’ve been discussing strategy.
In our last post, we shared how you can use a strategic principle to communicate your strategy.
This concept was introduced by Gadiesh and Gilbert.
We said a strategic principle was a “memorable and actionable phrase that distills a company’s corporate strategy into its unique essence”.
The authors give several steps to developing your company’s strategic principle:
- Draft a working strategic principles force trade-offs between competing resources
- Test if it endures – is it timeless?
- Test its communicative power – is it clear, concise, and memorable?
- Tests its ability to promote and guide action
- Does it force trade-offs?
- Is the business move wise?
- Does it set boundaries for employees’ experimentation?
- Communicate it – constantly, simply, and repeatedly
- Strategic principles set clear boundaries for employees so they can operate and experiment.
Start developing some strategic principles and test them with your team.
Need help with your strategy? Contact Us.