How does transparency support your business strategy?
When it comes to communicating company direction to staff, there have been some big changes in the last few years. Employees are now looking to work for companies that are open and accessible, rather than closed and monolithic. At the same time, new technology has made it easier than ever to communicate.
Faced with these new developments, more and more companies are looking for ways to make strategy accessible and open for all employees as they try and achieve core business objectives.
So how can an open and transparent strategy improve the outcomes for your company? Here are three advantages which an open approach to strategy planning can offer for your business.
Keep company direction clear
Many workers are disengaged from the processes and long-term initiatives their company is undertaking. This lack of direction often occurs when company strategy is badly formulated or is unnecessarily opaque for staff.
Undertaking an effort to improve the visibility and clarity of your company strategy is an easy way to get staff more engaged with the process, facilitating greater engagement across your business.
The good thing about transparent strategy, and strategy software in particular, is that it gives your company an avenue to get feedback from those who will be executing your company initiatives.
A transparent communication system will allow a variety of different stakeholders to provide feedback on an initiative, regardless of their official level within the company. This level of collaboration can only be achieved once a transparent strategy has been put in place.
When all your staff are on the same page it becomes much easier to oversee the implementation of key strategies. On the other hand, ineffective or opaque business planning can have the opposite effect, reducing efficiency in the workplace and slowing down key projects.
Implementing an effective and transparent strategy is an easy way to get the most from your staff and key stakeholders, preventing your strategy from stagnating and unlocking greater productivity.