During the summer SPURR celebrated its 1st birthday. The last 12 months have been a fascinating, enjoyable and fulfilling time. Here are a few reflections based upon a full immersion in the ‘business strategy’ market during this first year.
The added value of business strategy
The need for business strategy is crystal clear, but not necessarily readily identified by clients. Exceptional businesses concentrate on delivering value to customers/clients consistently through a sustainable and differentiated proposition – to do this over the long-term takes a conscious approach to developing and executing strategy.
The transition of owners’ expectations
Shared vision and ethos amongst shareholders is a big determining factor of whether a company will fulfill their future potential. Some owners simply don’t want the same thing from the business as others. Some companies are in transition which can be really testing and, if allowed to endure, inevitably delays the strategic decisions needed for a market-leading strategy.
Alignment of potential and ambition
Some businesses have the potential to be market leaders, but lack the ambition and commitment to be the best. The ‘good enough’ mentality means that the talent they have will remain capped, creating a lot of successful businesses, but not best in the industry. This is a cultural challenge and as such changing slowly. It also influenced the development of the SPURR consulting experience so that it accommodated this attitude. Hopefully to demonstrate that developing great strategy is possible and thus tackle any initial lack of commitment.
Delivering value through a deep and wide approach
Business strategy should build a commitment from across an organisation to deliver on the clients’ critical success factors whatever the role performed. This can falter at the planning stage or during execution as the lack of a formal plan means there isn’t a fully integrated and understood approach. Clearly here you have to make strategy easy to shape, agree and report on so that it is ‘lived’.
The market needs to be made
SPURR’s approach to helping clients with business strategy development and execution is a different recipe from traditional consulting. It is designed in a way which ‘makes the market’; that is the model encourages clients to dare to think about their destiny and have the confidence to realise that they too can become the best in the market.
The big lesson (and the good news) is that there is huge latent potential in the business community and to unlock it the areas for attention are all fixable.
SPURR believe the way we work plays a part in doing this, but we would say that of course!
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