Developing a company strategy is often a lengthy process. Once the strategy is in place, the real work begins—bringing it to life and embedding it sustainably into daily business operations. Here, we share 8 tips on what companies need for this and how to make a change project successful.
01 Where is the journey headed?
How will we be earning our money in five, ten, or even 20 years? Do we want to be the most innovative company in our industry? Do we aim to be the top revenue generator or the most profitable company in our market? Will we operate regionally or globally? Will nearly all our processes be fully digitalized by then?When developing a corporate strategy, it’s crucial to already have a clear and vivid vision in mind. Only when you know your destination can you plan the path to get there. However, visions are meaningless without a concrete idea of how to realize them. For example, do we want to become innovation leaders by acquiring start-ups, expanding our research capabilities, or empowering our employees to independently identify and seize opportunities for improvement?These are the types of questions that need to be answered when crafting a strategy. Additionally, we need to ask: Which sub-goals—such as increasing innovation speed—should we focus our efforts on to maximize impact?
02 Shaping change
Let’s say your company aims to become the most profitable in its industry. In that case, you need to identify the key success factors and derive actionable areas from them. From the perspective of your target customers, for example, you’ll need attractive products and services, and your sales team must be able to sell them effectively. All relevant processes must be “lean,” meaning streamlined and efficient. As you can see, there is much to be done – so you need to set priorities. What comes first and what can wait? You can’t do everything at once, as there is often simply not enough time or budget in day-to-day operations. You need a plan that outlines: Who will do what, and by when – keeping in mind the sub-goals along the way. For a company’s vision to become reality, every department should reassess its current approach and, if necessary, restructure the way they collaborate. A management system like the Balanced Scorecard can be helpful here, coordinating individual activities across departments and hierarchies so that everyone is working toward the same goal. Using a management tool allows you to oversee the entire process and periodically check if you’re still on track to reach the next milestone. This enables the company to quickly and agilely respond to any deviations from the plan and make course corrections as needed.
03 Thanks to a Communication Concept, Everyone is “On Board”
The top management of a company cannot achieve its goals alone. It needs allies across all departments and levels. However, people will only take action if they identify with the project. It is crucial to integrate the affected areas into the planning process. This way, representatives from these areas can later serve as advocates for the change. In larger companies, not everyone can be involved in the strategic planning, and key decisions cannot be made collectively. At some point, the leadership team has to decide, “This is what we’re doing, and this is how we’re doing it.” That is one of their central responsibilities. It is essential to inform everyone involved about what was decided and why management chose that path over other options. Additionally, it’s important to communicate what the decisions mean for them and what support they can expect from the company, such as training or additional resources, both in terms of personnel and technology. Management needs a communication plan because, throughout any change project—which is what every strategy implementation process ultimately is—new information and communication needs will continuously arise.
04 Advocates Who Promote the Change Project
The company newsletter and internal intranet are important tools for informing those affected by the change. However, messages are much more effective when delivered by people whom employees trust—especially when these individuals can answer questions in a way that feels authentic and credible. Change projects need advocates at all levels because only with their help can employees who were initially skeptical or distanced from the project eventually be brought on board.
Every change project goes through various typical phases. Often, a large portion of employees initially reject the project when it is announced. Over time, they begin to accept the planned change, first rationally and then emotionally, eventually becoming more engaged in achieving the desired goals. In the different phases of a change project, employees have varying wishes, needs, and expectations from their leaders. It’s essential for leadership to understand these and respond accordingly.
The Phases of a Change Project:
05 A Training Program That Provides Employees with the Necessary Skills
When a company undergoes changes in its structures, processes, and work relationships, new demands are placed on its employees. This means that they must adapt their behavior and, often, their mindset. Routines that employees have relied on for years may become obsolete, even though these routines once gave them a sense of security.
Employees need to relearn or acquire new skills, and the company should support them through a structured training program. A coach or a leader should assist them in developing new thought processes and behavioral routines to help them adjust to the changes effectively.
06 Simple Tools and Resources for Everyday Work
In today’s VUCA (Volatile, Uncertain, Complex, and Ambiguous) world, the economic environment in which companies operate is changing faster than ever. For years, one of the main goals of most change projects has been to equip employees with the ability to independently identify and solve problems, as well as seize opportunities for improvement. To encourage the desired initiative and responsibility, employees need easy-to-use tools. Companies should provide these tools and train employees on how to use them effectively.
Specifically for coaching initiatives, we have developed a coaching tool for our clients that makes professional development efficient and sustainable for both employees and companies. The
app provides comprehensive support for the coaching process through AI-powered coach search, budget and scheduling overviews, integrated online coaching sessions, a logbook for goal setting, communication with coaches via chat, feedback functions, and access to coaches from 40 countries in 50 languages.07 Quick Wins and Early Successes
“We want to become the most innovative company in our industry.” “We want to become a global player.” Achieving such goals often takes years. Throughout the project, participants may feel like “nothing is happening,” even if the company is on the right track. This is why it is crucial to define milestones along the way—not just at the corporate level, but also at the department, team, and employee levels. This allows leadership to frequently announce, “We have reached a milestone,” helping to maintain momentum and prevent the energy for change from fading.
08 Perseverance, Tenacity, and Patience
Strategy implementation projects, especially those aimed at cultural transformation, require a great deal of perseverance and patience from those in charge. Embedding the desired new routines in the minds of employees and throughout the organization takes time. Leaders should avoid falling into operational panic when change seems to be progressing too slowly. In such processes, the saying holds true: “The grass doesn’t grow faster if you pull on it.”
Instead, ensure that you maintain your inner balance through personal activities like sports or by reflecting on the process with a coach. This will help you stay grounded and continue to exude the confidence needed to lead employees through change processes.
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