How to Turn Strategy Into Results with The Business Hierarchy of Needs

Every business should be goal-oriented. Every successful business has a strategy and is aware of its future direction. Reviewing the company’s historical performance and forecasting its future performance offers a road map to follow. However, if you put it in a drawer and let the dust build-up, it won’t support your company as it should. Management and staff members must understand the value of strategic planning and adhere to the recommendations made by that planning.

The corporation frequently needs to gain a sense of responsibility. It drifts away from actual goals and aims due to the increased job demands, the desire to satisfy client demands, and the need to meet strict deadlines. Additionally, by incorporating the strategic planning component, every team member gains direction and can go forward with a well-organized strategy. A long-term vision is essential for the company to develop in the market.

Read "The Business Hierarchy of Needs ®-Turning Strategy into Results" by Jim Gitney to understand how strategic planning works and how you can apply it at your company. Although any company can use this approach to execute its strategy, at his consulting firm, Group50® Consulting, he applies the concepts from the book to every project, which saves their clients hundreds of millions of dollars. They think it is essential for businesses to be revamped due to mergers, reorganizations, or turning points.

He further divides the business needs hierarchy into three levels:

Level 1: Strategy, alignment, and Accountability

A solid foundation is required for everything you do, including successfully formulating and implementing the strategy. It necessitates that a firm has a clear concept of who it is and why it exists, thoroughly knows its value offer, and that its supply chain produces goods and services people want to buy.

Level 2: Performance Management and organizational readiness

Change and Knowledge Management are the links between plan and results. It concerns stakeholders, expertise, and ability to grasp change management so that theory may become a reality. Leadership is responsible for ensuring that all organizational stakeholders have the necessary tools, training, and resources to succeed. They, too, must be involved.

Level 3: Implementation and continuous improvement

It is concerned with putting a company’s strategy into action. Of course, most of the work in levels 1 and 2 is also about implementation, but it is just as much about preparation as it is about performance. According to specific surveys, less than 60% of leaders believe they are excellent at plan implementation. Because they needed to prepare correctly, the commission became bogged down in turf disputes, misalignment, disagreement on results and future actions, a lack of skills, and insufficient resources.

This book pushes you beyond your comfort zone and offers wise advice for gradually constructing a reliable and stable work life. It was created as a template and handy reference to aid any company in carefully analyzing and implementing its strategy and tactics in the correct order. This will increase the likelihood of effective adoption by distributing the workload across the entire organization and significantly enhancing involvement. It is meant to do this by spreading the workload across the whole company and significantly improving involvement, increasing the likelihood of a successful adoption. It serves as a framework for managing transformation. The best method to manage change is by involving the organization in the creation and execution of the strategy. Happy perusing, then!

During my 45 years of corporate and consulting experience with companies ranging from start-ups to Fortune 50, I have learned what to do and what should never be done from some of the best and worst leaders.