stay up to date with business press
CAN ARTICULATE HOW
THEY ADD VALUE
We have the ability
to translate strategy
the three pillars of strategy success
mutually reinforce each other
Our company strategy
takes into account marketplace realities
There is internal
alignment on our
HAVE Formal Strategy
Companies with a bottom-up strategy development approach are more likely to have a well-defined strategy
Employee performance measures are well
aligned with overall company strategy
Rapidly-growing firms do not necessarily have a more
formalized strategy-development process. But they do
factor in a wide range of both internal and external inputs.
Companies that are highly satisfied
with execution are more likely to ensure bottom-up ideas
Companies that have specific ways to challenge management's assumptions are more satisfied with overall strategy
Companies that believe they execute well are more likely to have a well-defined strategy
A good process leads to a better strategy and better execution while a well-defined strategy is easier to execute and invites more engagement in the development process. Effective execution drives growth that feeds future investment and reveals where strategy development and definition need more work.
1. strategy definition & articulation
Companies whose strategy process includes specific steps to challenge management's assumptions are confident the strategy will succeed
How Middle Market Companies OPERATE Within Their Supply Chains
3. capabilities to translate strategy into execution
We allocate sufficient resources to implement
Our company strategy
is flexible enough to
meet the changing
needs of the market
When strategy is well-defined, satisfaction with execution triples
strategy success & company growth
rely on three elements
ENSURE MANAGEMENT's ASSUMPTIONS CAN BE CHALLENGED
A well-defined strategy helps companies better articulate the value they offer. Those that can speak to their value proposition grow half again as fast as those that cannot.
revenue growth 10%+
CREATE process to allow bottom-up ideas to reach management
keep up with business periodicals & literature on strategy
Effective strategy execution requires aligning goals, key
performance indicators, and incentives with strategy and providing feedback on how employee performance contributes to strategy.
The National Center for the Middle Market’s recent research revealed that, for the majority of middle market businesses, formal growth strategy is second only to market expansion in terms of weight in the growth equation. While some strategic focuses lead to more rapid revenue growth than others, it’s not just what the strategy dictates that matters. How the strategy is defined, developed, and executed also play essential roles in strategic success and a company’s rate of growth. In the middle market, companies must master the three mutually-reinforcing elements of strategy—definition, development, and execution—in order to realize their vision and achieve their goals at a faster rate than their peers.
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By understanding growth factors and growth DNA type, executives can make smarter choices that benefit companies, employees, and communities.
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2. robust strategy development process
The company's current initiatives are aligned
with company strategy