Every year the strategy space continues to grow. It is common nowadays to see a CSO, Chief Strategy Officer, at almost every large cooperation around the world. Incredible when you consider 15 years ago the role almost didn’t exist. After immersing myself within the strategy space, I truly believe all businesses will succeed if they have the correct strategy. Luckily, we at Skefto have your back when it comes to creating powerful and lasting strategies. One of the exciting methods we use is “Strategy on a Page”, also known as “One Page Strategy”, which will be the topic of this article.
What is Strategy on a Page?
Strategy on a Page is a strategic management tool designed to give a window into a companies overall strategic plan. It is a single page view of companies plan, priorities and direction. Like most useful things, the concept is simple. It forces a business to present a precise, yet clear overview of their goal and the means by which they hope to succeed. Strategy on a Page is a complementary piece to a companies overall strategic plan, it is not the whole plan itself.
At Skefto we refer to Strategy on a Page as a cliff note version of a strategic plan. For a strategic plan to be impactful it must contain as much detail as possible. Hence these plans can get a bit wordy. Strategy on a Page doesn’t have this problem, it provides all the critical information in a more accessible and easily read format.
One-Page strategy is designed to give your employees a better understanding of businesses past, present and future. A business may have multiple One-Page Strategies depending on its size. Take BHP for example, their Wind Energy Division will have different strategic objectives compared with their Petroleum Division. Hence, Strategy on a Page will differ and represent each division uniquely.
It is important to remember that even though a company may have multiple one-page strategies, they all come from the same strategic plan. Hence, their missions are all ways the same. The goals of each sector may differ to represent their field of expertise however the mission remains the same. This is important as it allows a company with many different teams to work in sync with each other to achieve the organisation’s mission.
What is the purpose of creating Strategy on a Page?
When creating a strategy on a page we must understand the intended audience. For example, a Strategic plan is designed for the decision makers of a company, a detailed portfolio with specific goals and objectives and means to achieve it.
Strategy on a page however targets those ‘non decision making’ employees as well as shareholders. A one page strategy provides the overall direction a company is intending to take. It is important for employees to truly understand the vision of their workplace. I often see a disconnect between a business and its employees and often I attribute it to poor communication. Strategy on a Page will help you remove doubt and provide transparency for all employees.
Strategy on a Page can be useful when dealing with shareholders as well. Firstly it is a useful tool for providing information to your current shareholders. On a single page, you are able to provide key information about the business. You give them an insight into the future and hopefully potential economic growth. Having a positive relationship with shareholders can make a world of difference and providing them with concise, relevant information is exactly what they are seeking.
Secondly, Strategy on a Page can also help in convincing potential shareholders to buy into your business. Capital raising is an essential part of any successful business and you must be able to sell the image and potential opportunity your business can offer. When you are able to present a positive outlook to the future and a means to achieve it, people will ultimately buy in. Strategy on a Page can be a great starting point of relevant information that prospective shareholders would be interested in reading.
Create Your Own Strategy on a Page
Now the time has come to create your own Strategy on a Page. Luckily we at Skefto are here to help you. We have developed our own Strategy on a Page template which you will be able to download and fill in yourself. We advise you to get creative with how you present the information but there are some rules to follow.
Firstly, all the information presented on your Strategy on a Page should come from your strategic plan. Secondly, you should keep the information relevant to the following five sections:
The beginning of any strategic plan or strategy on a page. This section is designed to help your employees or shareholders understand the question, Why?
Why does your company exist? Why were you founded? What is your organisation’s purpose?
In this first section, you should look to explain the origin of the company. Providing an insight into the purpose of your company that drives it forward will allow for transparency. Give your employees a chance to buy into the culture you are striving for.
Now is the time to state your organisation’s ambition. What you are seeking to achieve in the short and mid term. Based on the strategic objectives from your strategic plan, these goals help provide direction for your organisation to grow.
When writing them, remember that a business or an area of an organisation may have multiple objectives. Some may span multiple years. It all depends on the size of the business and the resources available.
For a more in depth understanding of strategic objectives, please read through our article ‘Strategic Objectives Guide: Foundation for Success‘
The third section of our Skefto Strategy on a Page template focuses on the people who pay for your goods or service. This section is designed to better explain the relationship between an organisation and their customers.
Who is your ideal customer? What do you offer your customers that is unique? How do you connect and serve your customers?
Understanding your customers and why they choose your business over others will help you tremendously and ensure your success.
Previously we have looked at answering why, what and who. Now we must demonstrate the ‘How?’. In the implementation section, you must outline how you intend to achieve your goals and clearly state what action the business will take.
This section is all about establishing belief in your strategic model. It is important to remember that as a decision maker for the business you are privy to information that general employees are not. This lack of transparency will cause confusion, especially when announcing anything new. Therefore by sharing how you intend to achieve your goals and the reasons why, will only help boost confidence amongst your team.
This process is a necessity when trying to establish trust and belief within your work ecosystem.
Our last section of our Skefto Strategy on a Page template is designed to measure the success of your strategy. How will you know if you succeed? The easiest way is to put KPIs (Key Performance Indicators) in place.
In truth, every goal or objective that is in your strategic plan must be quantifiable. Practically it must be given a time frame to be achieved in. A goal plus a time to achieve the goal is the foundation on which you can build success.
What does success look like for your organisation? What are your financial metrics and customer satisfaction? How will you know if you’ve succeeded?
skefto Helps Businesses build a Winning Strategy on a Page