Judging by the amount of attention paid to strategic planning throughout the business press and business schools, it’s easy to conclude that the one necessary ingredient to an organizational success is a well-crafted strategic plan. Yet, over many years of consulting I’ve come to realize that little could be further from the truth.
When you are a senior leader — someone who has both people working with you and reporting to you in a medium to large organization — it’s unlikely that you will have close personal relationships with everyone. This dynamically changes what you need to be able to do.
For many, a strategy is developed through trial and error with the goal of significantly improving the top and/or bottom lines. These are worthwhile goals but in this era of nearly ubiquitous products and services, it's wise to engage with clients first before making any changes to your strategy. What follows are three case studies concerning client engagements MarketCues conducted that show how to link customer insights to strategy to win big.
MarketCues has coached and consulted with many organizations and when they found out what their true inhibitors to their growth were many could not bring themselves to take all of the bold steps required to grow out of their challenges.
Senior executives often tell us they have a strategy in place, and executives generally believe the issue is increasingly important to their organization's success. But as their strategic programs become challenged in the marketplace by multiple competitive sources, many of whom are using innovation to drive their brand awareness and become better known, challenges to continue to retain key clients become increasingly more difficult.
If you have been running a company for some time you know there are specific challenges that can derail even the strongest business.