Free Strategy Assessment

How Good Is Your Strategy?

How specific is the target customer as defined in your strategy?

Very Specific

Non Specific

The best strategies target a specific ‘ideal customer(s)’ where you feel you are best placed to serve them, relative to your competitors.

In terms of competitiveness, which best describes your proposed advantage?

Big Advantage

Marginal

The best strategies identify specific advantages that you believe will result in your ideal customer choosing you more often than their other buying choices.

How confident are you that your strategy pinpoints your key challenges and opportunities and effectively addresses them?

Really Confident

Not Very Confident

Good strategy identifies the most critical, pivotal point for business success. This is the aspect that, if addressed, would have the most significant impact on the company.

As part of your strategic planning process, were ideas discounted or put on a back burner?

Yes

A sign of strategic maturity is you actively discount ideas and put others on the back burner for another day.

If you asked them today, how many managers do you estimate would accurately describe your strategy and what they are currently doing to support it?

All

Some

None

Being able to articulate your strategy in a way that can be understood, remembered and aligned with increases the chances you will achieve your strategic aims and commitments.

How confident are you that metrics that track progress towards your strategic goals are clearly defined and are being actively monitored to facilitate course changes?

Very Confident

Not Confident At All

Not all your ideas will succeed, making adaptability crucial for strategic success. Tracking and reviewing key leading metrics can pinpoint the right time to pivot your strategy.

How confident are you that your strategy results in you achieving your stated aims / commitments?

Very Confident

Not Confident At All

The aims of a strategy can be varied, you will know what you have shared with stakeholders and committed to. If you’re not confident that your strategy will achieve these aims and set you up for long-term success it might be time to revisit your strategy.

The Importance of Strategy Assessment

As a CXO, you undoubtedly understand the importance of strategy. You’ve likely spent countless hours honing your company’s strategy, carefully considering market trends, competition, and internal resources to craft a plan to drive your business forward. However, even the most well-crafted strategy can fall short if not accurately assessed.

Accurate assessment of your strategy is critical to ensuring that your company stays on track and can quickly pivot when necessary. It allows you to identify areas of weakness and improvement opportunities and make informed decisions about where to allocate resources.

Companies must be aware of the common mistakes in assuming that a strategy that worked in the past will continue to work. Market conditions, consumer behaviour, and technology constantly evolve; your plan needs to grow with them.

Accurately assessing your strategy requires a combination of data analysis and real-world feedback. To determine whether your strategy delivers the intended results, it would be best to examine key performance indicators, such as sales growth, customer retention, and profitability. It’s also essential to gather feedback from employees, customers, and partners to understand how your plan is perceived in the market and identify areas where it may fall short.

Another critical aspect of accurate strategy assessment is a willingness to admit when things aren’t working. This can be difficult for many CEOs, who may feel that changing course is a sign of weakness. However, sticking with a failing strategy can be far more damaging in the long run. By recognising when something isn’t working and making changes accordingly, you can avoid wasting time and resources on a strategy that isn’t delivering results.

Finally, it’s important to remember that strategy assessment is an ongoing process, not a one-time event. You should regularly review your strategy and adjust based on new data and feedback. Doing so ensures your company is always on the right track and positioned for success.

By staying vigilant, gathering data and feedback, and being willing to make changes when necessary, you can ensure that your company is always moving forward and staying ahead of the competition.