Financial Data
Updated 29 Feb 2020

When strategy stalls, lead with conviction

The best well-run businesses suffer periodic strategic decay. 

Lizwe Nkala, Entrepreneur, 01 March 2015  Share  0 comments  Print

All the answers to your unique business lifestage questions

A phenomenon of ‘strategic drifting’ can happen almost undetected, taking the business slowly offline with its markets and positioning.

How do you detect strategic drift?

You always need to see a fit between what you do and your customers’ needs. Invariably, the fit is evident in your costs to reach customers and the turn rate of your products on your sales scorecard.

Further, the more fit you have the higher the propensity of market adoption of your new offerings. Lack of traction on the above is a sure sign that your strategy has gone into orbit.

Related: Developing leadership ability

Re-strategise or lead?

The lead-time to re-formulating strategy and embedding it is long and tangible results may only be seen later.

Leadership, on the other hand, is instant, hands-on and gets the troops realigned to a new reality much faster.

Organisations are creatures of habit. Old behaviours in people take time to change and can frustrate strategic rejuvenation if not led with conviction from the
top team.

Focus on the right scorecard

The early days of strategic refocusing requires galvanising coordinated actions across the business to prepare it for a new strategy.

Measure and reward leadership for communicating and driving a new vision, structuring and aligning teams and being hands-on, before you focus on performance metrics.

Entrepreneur Mag Logo

Copyright is owned by Entrepreneur Media SA and/or Entrepreneur Media Inc.
All rights reserved. Click here to read our editorial disclaimer.

Rate It12345rating

About the author

Lizwe Nkala, Entrepreneur

Introducing the cash solutions for a growing business

Are your cash solutions supporting your growing business? Leigh Livanos, Head of Payments, Collections & Cash for Business & Commercial Banking explains how your cash solutions needs will evolve as your business expands.

Login to comment