All these questions and more determine whether your core strategy is aligned.
In an effort to answer the questions posed regarding your core strategy, we look to expert Pat Lencioni, founder of The Table Group, author of the Five Dysfunctions of a Team and most recently, The 3 Big Questions for a Frantic Family, and consultant to family-owned businesses.
His six questions will help your company define its core strategy:
- What is the ultimate reason you’re in business? (core purpose)
- What are the essential characteristics that are inherent in your organizations and that you could never knowingly violate? (core values)
- What specifically does your company do and for whom? (business definition)
- How do you go about doing what you do in a way that differentiates you from your competitors and gives you an advantage? (strategy)
- What is your biggest priority and what do you need to do to accomplish or achieve it? (goals)
- Who has to do what to achieve your goals? (roles and responsibilities)
Building (or rebuilding) the core will help your company focus on the most important aspects of strategy. Without it, you’ll simply create a moving target and your management team will not be focused on the right initiatives for successful growth.