Earlier this month, over 200 executives attended ACETECH’s One Page Plan workshops in Vancouver and in Victoria. The One Page Plan is one of the most recognized method for companies to undertake a disciplined approach to strategic thinking and execution planning.
Why so much interest in the One Page Plan?
As companies grow and bring on new employees, new issues arise and CEOs will often admit they are not getting the performance they expected from their team. One question we regularly hear from CEOs of high growth companies is “Why is it more challenging to execute on our strategy with more resources and a bigger team?” In many cases the answer may be as simple as “the team doesn’t actually know what your companies strategy is”.
Here are a few dramatic facts about business strategy gathered by Harvard Business School:
- 90% of strategies fail due to poor execution
- Only 15% of employees know their company’s top priorities
- Even worse, only 6% of employees know their own individual priorities
- 32% of employees doubt their company has a plan at all
In a nutshell, employees in the businesses surveyed simply don’t know where the company wants to go. Consequently, they are unlikely to execute well on a strategy they can’t articulate. By default, employees in these companies become task oriented rather than goal oriented. In this scenario, much of the brain power of the team is lost. Remember, employees are the company’s most important asset. This lost opportunity that is hard to quantify, but it has a real impact on the company’s ability to succeed.
So, where does your company stand?
Here is a a very simple and easy test you can do internally.
- Randomly pick three people at any level in your organization.
- Individually ask them “What is our company’s top priority this quarter?”
- If you get three different responses – or no response, you should consider this a wake-up call.
In order to grow a business not only do you need a winning strategy, you need to communicate it over and over to the team that’s going to execute it. It is the people in your business who must be motivated and directed to achieve the goals of the company
Clarity, Alignment, and Accountability are the three pillars of stellar execution, and there cannot be alignment and accountability without first getting clarity.
Most business simply don’t invest the time to get the internal clarity they need to align the team. True, taking a full day with your management team for an off-site strategic thinking and execution planning exercise is an expensive initiative. But every CEO that does it on a regular basis will tell you. It pays off!
ACETECH’s One Page Plan workshops help you and your executive get clarity and build a strategic plan that is easy to communicate to your entire organization. That way everyone can understand your goals and help you start implementing right away.
Click here to learn more about ACETECH’s Growth Strategy Program.