Strategic Planning and Leadership involves a number of key practices: setting objectives, analyzing the market, evaluating strategic choices, implementing initiatives, and monitoring their success.
Despite its many facets, at the heart of all strategic activity is one critical factor: making decisions. Decisions must be made about opportunities to pursue, how to avoid threats, and what priorities should reign over others. These decisions need to be made quickly and often, while still maintaining a high level of quality. Research has shown that while most organizations have a tendency towards inertia, those where capital and other resources move more readily from one business opportunity to another have greater returns to stakeholders, and lower risks of falling into bankruptcy or to an acquirer (1).
Strategic leaders provide a critical role in getting a company from where it is to where it wants or needs to be. They need to be open-minded, flexible, and accountable. In order to ensure that all choices are discussed openly and thoughtfully, a process needs to be in place for the leadership teams when considering strategic plans. This process should not only be reliable, but also involve a large number of stakeholders and a climate that encourages raising questions about the organization’s strategies and their position for success (2). Creating room for debate and candid feedback is a key step in ensuring that the strategic decisions made are supported by all and aligned with company values.
How Powernoodle Helps
Powernoodle’s evidence-based platform enables open, candid discussion involving all the right stakeholders. The ability to anonymously contribute your ideas and provide feedback on others’ ensures that you are able to debate and thoughtfully direct your decisions by harnessing intelligence from the right people. In addition, Powernoodle has created a series of decision models to help you make better quality strategic decisions and use evidence-based best practices in your decision-making. The use of these decision models will ensure that your strategic decisions and efforts use a process that encourages candid feedback and informed decision-making, thereby increasing the efficiency and success of strategic efforts and ensuring that the decisions made reflect the best choices at your disposal.
Recent Strategy-related DDMs:
If you’d like to learn more about Powernoodle and how an evidence-based approach to decision making can improve your strategies and execution, simply contact us at email@example.com.
1 Hall, S., Lovallo, D., & Musters, R. (2012). How to put your money where your strategy is. McKinsey Quarterly.
2 Leinwand, P. & Bäumler, M. (2017). 8 tough questions to ask about your company’s strategy. Harvard Business Review.