Strategy in Action Quiz - Under 5 Minutes
Does your company have a defined path to success?
Take the Strategy in Action quiz to find out!
My company has a clearly defined strategy/plan to achieve success and our strategic plan is well documented.
Our strategy was developed after a thorough review of the market, customer needs, competitive situation and assessment of our company’s unique capabilities.
I believe that our strategy will differentiate our company in the marketplace, drive profitable growth and bring significant value to our customers, investors and other key stakeholders.
Our strategic plan drives our day-to-day activities, and our leaders know what to do, and not to do, to stay on course with the strategy.
We have a monitoring process in place to ensure we keep our strategy current based upon how things are changing/evolving in our business and business environment. We understand the intricate dynamics of our industry, how things are changing/evolving and what implications that has to our organization - both short and long term.
We have a clearly defined process for strategy execution that ties together all of our respective investments, resources and activities towards achievement of our strategic plan.
We have specific action plans for our Executive Leadership team, as well as each functional department and regional group, which drive the daily operations of our business.
We know the general timeline and cost of implementing our plan.
There is consistent coordination between individual groups to openly discuss, share and align on objectives necessary to achieve the plan.
Our plan is continuously updated to ensure it is relevant and reflective of the current market and competitive situation our company faces.
Our strategy is well understood internally – everyone in the company has the same definition of the strategy.
Our strategy is well communicated externally, and is exciting and compelling to our customers, partners, analysts, investors and employees.
Our marketing and branding messaging supports our strategy story and our key stakeholders understand how we will get where we want to go.
All of our performance management and compensation plans for both internal employees and external partners are in alignment with our overall strategy.
Our executive leadership team spends a good portion of their time communicating about our strategy with key external stakeholders such as investors, analysts and customers…as well as communicating on how we are progressing with our strategic plan to our employees.