Further information on:
“How do I get a compelling growth strategy?”
Option
#4 is Acceptable: Hire a VP of Strategy.
Hiring a VP of Strategy, is an acceptable option. He/She will hopefully create
the internal processes needed to develop a fact based strategically focused growth
plan. There are two ways to accomplish this. Approach #1 involves the new VP
locking herself away to perform the research and conduct the analyses necessary
to develop a plan. Unfortunately, once again, it is not the plan of the implementers,
so we know the plan’s fate. Approach #2 involves the new VP attempting
to engaging a broad range of resources across the company. However, resentment
quickly develops as departments ask: “Why did we hire a VP of Strategy
if my people are being “loaned” to the new high-priced executive?”
Moreover, when the strategy is complete, if it is worth anything, it should not be changing substantially every month. It should have some stability so that it can get implemented. So what do you do with the high-priced VP of Strategy for the 12 to 18 months after you have the strategy?
You have installed
a permanent solution to a temporary problem.