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Setting a GREAT Strategy Statement



Every organization needs tools to make employees better understand their role within an organization. Developing a strategy statement that concisely describes its goals can help enhance the actions. It acts as a pillar for the company’s movement for years to come which can help clarify individual expectations, create effective strategies, and establish financial and customer service objectives. Without a GREAT strategy statement, the action could be diverted, resulting in challenges in reaching the organization’s goals. Here is the checklist to make a GREATer strategy statement.


5-STEP CHECKLIST TO MAKE A GREATER STRATEGY STATEMENT

  • Goal-oriented sentence: This part is like the answer to what the strategy is for. It is a clearly relevant objective that focuses more on practical and applicable plans.

  • Clear definition: defining the end result of strategy in order to communicate effectively. Provide details, but be as concise and consistent as possible.

  • Appropriate scope: scope with proper scale to ensure that it is not too broad or too narrow to implement. This should be at the initiative level, implying other detailed strategies should be planned.

  • Indicate action: indicate what to do in the action-oriented phase. Beginning with the verb to clarify the desired action, such as “commit to…” and “offer more….”

  • Denotes Specialty: symbolizes synthesized uniqueness that finds new solutions or fulfills a purpose. This would be even more effective if it differed from other competitors.


IN ACTION

An American department store chain, Target, contains these five characteristics in its strategy statement: “Leveraging our stores-as-hubs to efficiently provide a convenient and safe experience for our guests whether they purchase online or physically in-store.” This begins with indicating the action by using an action-oriented phrase (leveraging) and then mentioning “store-as-hubs,” which is unique. After that is the goal-oriented sentence with a clear definition of it positioned to do (to provide a convenient and safe experience for our guests efficiently), and the scope of the framework by focusing on “online or physically in-store.” This serves as an example of how to create effective, all-encompassing strategy statement that can win hearts and minds.


Thus, this five-step checklist will enhance the effectiveness of the strategy statement. Employees and the organization will benefit from understanding their roles in implementing the company’s strategy due to a well-written strategy statement.



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