It is a preoccupation for any successful business to earn the trust of its key stakeholders by consistently achieving operational and financial goals. To do so requires the connection of strategy to tactical plans and their execution. In this way, strategy becomes the driver of the business. In our work with organisations around the world, one of the first questions Oliver Wight Business Advisors ask their employees is, “what is your company’s strategy for the business?” More often than not, they don’t know.
Unsurprisingly, the realisation that their own people are largely unaware of the company’s business strategy can be a tremendous source of frustration for executives. The problem is that while companies typically invest considerable time and money on developing a strategy, they often fail to operationalise it through their Integrated Business Planning process. Conversely, when an organisation has properly integrated its strategy into the IBP processes, its employees at all levels are able to immediately and consistently repeat the company’s objectives.
In this white paper, we show how to integrate the corporate strategy with operations by cascading it down the organisation through the creation of individual strategies and plans at the business unit and functional levels.
To illustrate this, the white paper uses an anonymous but real-life example of how the president and executive team of a large manufacturing organisation worked with Oliver Wight to successfully connect the business strategy to execution, using Integrated Business Planning for its deployment.
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