When a business is in pursuit of its strategic goals, there are number of elements that can interrupt or even completely derail progress. Keeping all of the various ingredients and stakeholders working towards a single purpose is critical, but remains one of the biggest factors in failing to complete plans.
Research from the Project Management Institute (PMI) discovered that having effectively aligned projects and programs resulted in a much greater chance of completion – 71 per cent compared to just 48 per cent where operations were misaligned. That’s a huge discrepancy, highlighting the importance of collaboration when it comes to strategic planning in an organisation.
Agile strategy in a rapidly shifting environment
To cope with political turmoil, constantly evolving technology and turbulent markets across the globe, it’s crucial for a modern business strategy to be highly adaptable. As such, the best avenue today may not work in six months’ time.
According to PricewaterhouseCoopers’ (PwC) Annual Global CEO Survey, times of uncertainty have led to a reluctance to make critical decisions, resulting in poor alignment between business strategy and stakeholder expectations.
Adaptability is one of the most crucial aspects of a modern business strategy.
Richard Sexton, PwC vice chairman, Global Assurance, says utilising the vast swathes of data available is key to effective strategy – if organisations can keep all involved on the same path.
“Companies have stacks of information that can – if they have the skills to assimilate it – tell them about habits, beliefs, intentions and expectations of their customers and clients,” he says.
“Some CEOs are using this data effectively to manage their business better.”
Aligning the workforce
With effective collaboration so important, making sure strategic objectives are seeded throughout all levels of an organisation should be at the front of mind for all leaders. A carefully designed and thought out strategy has a much higher chance of success if it is fully understood by every individual on the team, so having a platform that encourages communication can yield significant rewards.
Innovative business strategy software from StrategyBlocks offers top-to-bottom visibility across your company, helping to bring each department into alignment and steering everyone in the correct direction. Using a visual interface to efficiently convey business goals to many individuals can clarify your vision and ensure a better outcome.
Speak to StrategyBlocks today about the importance of business alignment, and how our platform can help move your organisation forward.