Chapter 5. Principle 2: Refresh and Communicate Strategy
Don’t measure yourself by what you have accomplished, but by what you should have accomplished with your ability. | ||
--JOHN WOODEN |
This chapter covers several case studies focused on Principle 2, Refresh and Communicate Strategy best practices. Award-winning enterprises have refined and developed this core process and leveraged it as competitive advantage.
The Crown case study will provide both the Crown-specific best practices and expand discussion on normative Principle 2 best practices learned from the collective companies researched. See Exhibit 5.1 for a summary of Principle 2 best practices.
Table 5.1. Principle 2: Refresh and Communicate Strategy Best Practice Summary
Best Practice | Description |
---|---|
Strategic planning | Leverage the strategic planning process as either owner or partner to understand changing market conditions including competitor, supplier, rival, and potential entrants and substitutes in the marketplace. |
Core and adjacent products and services | Define and determine core and adjacent products and services to focus on highest probabilities for success. |
Strategic plan | Produce a comprehensive strategic plan. |
Strategy mapping | Develop a strategy map containing objectives along four perspectives including financial, customer/constituent, process, and people. Observe strategy map design parameters of 20 to 25 objectives. |
Link strategic ... |
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