Ultimately, if strategy is approached as a complete process (formulation, planning, implementation, steering/monitoring, governance), does this lead to better results?

Although it is an intrinsically creative process, strategy follows a series of combined actions and decisions that lead to precise choices and focused execution. Adopting a process perspective is essential for making more robust decisions, increasing agility, and ensuring seamless consistency in its management. This approach is directly inspired by the concept of continuous improvement, aiming for gradual progress by leveraging the creativity of all stakeholders in the organization.

In this context, if strategy is considered a process, its approach can be improved to increase the robustness of choices and the consistency of execution.

Let's focus on three essential dimensions.

Strategy choices are iterative and follow a specific logic

The Strategic Cascade approach (Roger Martin) puts forward five key decisions for building a strategy. These decisions are iterative:

1. Define a winning aspiration
2. Choose where to play
3. Identify how to win
4. Choose the necessary key activities, resources, and capabilities
5. Identify the enabling management system

These different choices are part of a broader strategic thinking process, in which it is necessary to assess the state of the market, competition, evolving customer needs, trends, and more.

The rigour and creativity mobilized to "build the choices" of the strategy can be evaluated against its process performance. It is possible to articulate the approach, the involvement of stakeholders, the identification of options to explore, hypotheses, and the necessary validations to develop robust and coherent strategic choices.

Each step of the formulation can be evaluated based on the quality of the choices and the results achieved.

The necessity of management and feedback

Unique and coherent choices will not yield the expected results if priorities are not managed with rigour and effectiveness.

Indeed, it is important to ensure effective strategy execution through the adoption of an appropriate management system (Decision 5). Establishing OKRs, regularly tracking them, and coordinating resources and activities are essential. The same applies to the ability to say no to initiatives and projects that do not contribute to achieving the key objectives.

Having the right forums and routines that allow for this monitoring, and especially the review of how the process is conducted, is crucial for its improvement.

Questioning the capacity to achieve objectives and the validity of choices is essential

Members of the organization develop their strategy "muscles" at each step of the strategy process, but also with each iteration and adaptation of the strategy (cycle).

Making choices, managing key actions, taking a step back to evaluate decision quality, and making necessary adjustments are essential. Even the most brilliant strategy can fail due to poor execution, misalignment with market conditions, or arbitrary prioritization.

Maintaining attention on the success conditions of choices is vital to ensure continuous vigilance.

Observation

Adopting a process perspective on strategy notably allows for better understanding and appreciation of the elements that define it:

• A continuous dynamic
• The collaboration of multiple stakeholders
• The rigour of the approach
• The necessary inputs and outputs
• The measurement of success
• The predictability of actions
• The accountability of actors and decisions

Impact for the organization

Strategy and its execution are closely linked. It is illusory to consider them separately.

Choices, priorities, and results must be continually evaluated as a whole. The process involved is just as important as the "deliverables" of each stage.

The common mistake is forgetting that this essential coherence is intrinsically multidimensional.

Next steps

The excellence of your strategy is measured by the quality of your approach (process).

To begin transforming your approach, ask yourself these essential questions.

How often do you evaluate:

• The choices of your strategy?
• The success’ conditions of your choices?
• The quality of your strategic process?

Have a good week,

Eric L’Heureux

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