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What Is A Good Strategy Statement?

A good strategy statement succinctly communicates the organization’s overall strategic direction, guiding principles, and key priorities in a clear and actionable manner. It should capture the essence of the business strategy and serve as a guiding beacon for decision-making and resource allocation throughout the organization.

Here are some characteristics of a good strategy statement…

  1. Clarity – The strategy statement should be clear and easily understandable to all stakeholders, including employees, investors, customers, and partners. It should avoid jargon or technical language and communicate the strategic direction in plain and simple terms.
  2. Conciseness – A good strategy statement is concise and to the point, capturing the essence of the strategy without unnecessary complexity or verbosity. It should be brief enough to be memorable and easy to communicate effectively across the organization.
  3. Focus – The strategy statement should focus on the most critical aspects of the strategy, including the key objectives, target markets, competitive positioning, and core initiatives. It should prioritize the most important elements and avoid diluting the message with too many details or secondary priorities.
  4. Alignment – The strategy statement should be aligned with the organization’s vision, mission, and core values. It should reflect the overarching purpose and aspirations of the organization and reinforce its unique identity and strengths.
  5. Specificity – While being concise, the strategy statement should also be specific enough to provide clear guidance on what the organization aims to achieve and how it plans to do so. It should include actionable goals, measurable objectives, and identifiable strategic initiatives.
  6. Flexibility – A good strategy statement should be flexible and adaptable to changing circumstances and market conditions. It should allow for course corrections and adjustments over time while remaining true to the organization’s long-term strategic direction.
  7. Inspiration – A good strategy statement should inspire and motivate stakeholders, instilling confidence in the organization’s ability to achieve its goals and create value. It should convey a sense of purpose, ambition, and optimism about the future.

A good strategy statement serves as a powerful tool for aligning the organization, rallying support, and driving execution towards the achievement of strategic objectives. It should be revisited and refined periodically to ensure that it remains relevant and impactful in guiding the organization’s journey forward.