See how organisations are tracking accountability and employing strategy execution for growth and prosperity in 2020.
Strike up a conversation with a CEO or business leader about their weekend and it often involves their participation in competitive sports – marathons, cycling, swimming, golf, tennis etc. Most leaders are competitive, strive for excellence and push boundaries. They will explain in detail how preparing for a big race or tournament commences months in advance, often under the guidance of their personal trainer, about the crack support team they assemble for race day and the clear game plan they developed. Nothing is left to chance and no expense spared to achieve their Personal Best time or other goals.
Surprisingly, making the connection between how to have success on the track and traction in business is not always so straight forward. Many of the companies Checkside meet are searching for the right “personal trainer” and game plan to unlock the potential of their business and kick it into high gear.
For companies starting their financial year on 1st July, big chunks of the next few months will be devoted to budget planning as companies focus on FY24 and grapple with the uncertainty of the business environment and economy. High performing companies will be refreshing their strategy during March to June to inform their budget and plans.
What is your process to prepare for FY24? What role does strategy play? Is strategy a process, a constant state-of-mind, a rhythm and a roadmap that unites your organisation around a common purpose, set of plans and moments to celebrate or re-evaluate progress? Give these points some consideration while you are next out training:
A study by Bain & Company found that companies with a clear, well-communicated strategy are 300% more likely to outperform their peers. (Source: “What Separates the Best Companies from the Rest,” Bain & Company)
Organisations with a clear, inspiring vision and strategy have significantly higher levels of employee satisfaction and lower turnover rates. (Source: “The Impact of Leadership and Culture on Employee Satisfaction and Turnover,” Harvard Business Review)
Companies with a clear, engaging strategy experience a 17% increase in employee engagement and a 19% increase in operating income. (Source: “The Power of Engagement,” McKinsey & Company)
If the thought of what the new financial year has in store for you (including getting your FY24 budgeting right!), or the three points outlined above pushed your resting heartbeat above 100 bpm then give Checkside a call.
Having a good “business trainer” to guide you, provide the process, tools and support and challenge you along the way is proven to generate a strong ROI and can get your resting heartbeat down to below 80 bpm.
Contact Checkside for a coffee and a conversation (click here)