Secrets of a strong strategy: 4 steps to successful planning and execution

By Viktor Andrukhiv, (pictured) Co-founder of Fibermix and Savex Minerals

A strategy provides a clear direction for a business. The objective of the strategy session is to define the company’s future goals and key priorities. Furthermore, it enables the company to ascertain whether it is progressing in accordance with the global strategy, vision and mission of the brand.

The strategy session is also an effective method for aligning the vision of the team and management with the current reality. 

There is no universal timeframe for strategy sessions; the optimal period depends on the specific business in question. Some businesses concentrate on general market trends, in which case the strategy session is typically held in November or December. Others are contingent on key clients and are frequently aligned with their plans and budgets. In this case, the sessions are held at the beginning of the year, in January or February, once clients have adjusted their plans and budgets.

The frequency of strategy sessions is also a key consideration. Historically, these were held annually, but in today’s fast-paced environment, this is not a viable approach. If there is a need to make significant changes to the strategy, waiting for the next annual session may not be feasible. Therefore, in addition to the main annual session, it is advisable to hold interim sessions every quarter to adjust the company’s course.

What is the optimal preparation for a strategic session to ensure maximum effectiveness?

1. It is important to involve and motivate the team in order to ensure the effectiveness of the session. In my opinion, the most effective sessions are those based on the participation of each employee. In our company, we invite all office employees, as well as key representatives from production, including accounting, the CFO, the chief accountant, sales managers, logistics personnel, and HR specialists, to participate in the sessions. Each individual prepares a presentation on their respective area of work and demonstrates their achievements to the entire team.

Initially, this approach was met with scepticism. Many employees felt that their work, for example in logistics, did not warrant a separate presentation. However, this is not the case. It is important to communicate to the team that every contribution is vital to success and that no task is insignificant. 

It is also important to demonstrate to the team that their achievements are being acknowledged. Consequently, the results of the presentations can be used as a basis for distributing financial bonuses or offering additional days off. 

If an employee is inadequately prepared for a strategic session, this may be a cause for concern for HR. It is important to ascertain the reasons for such behaviour, whether it is due to dissatisfaction with salary, team issues or personal difficulties that affect work. It is crucial to identify such factors in a timely manner and, if possible, provide support.

2. It is important to select a moderator who can positively influence the working atmosphere.
   
   In the past, we have involved external organisations in strategic sessions, but this approach has not been effective. The team had a negative perception of outsiders, which resulted in discomfort and resistance. As a result, we revised the approach to holding strategic sessions.

The primary responsibility for conducting strategy sessions now rests with an internal HR specialist. His primary objective is to foster a positive and productive work environment within the team. He also assists with preparation for strategic sessions, conveys queries agreed with management to employees, and the team formulates its presentations based on these inputs.

Without the involvement of an external moderator, all members of the team are able to participate in the discussion process on an equal footing. This approach fosters a sense of team cohesion, facilitates constructive feedback, and encourages a free exchange of ideas.

3. It is essential to communicate with the team and share information.
   
   Employees must be aware of the company’s current affairs and be able to rely on accurate indicators in their presentations. It would be beneficial to share general trends, such as turnover, revenue, and expenses. This enables the team to gain a deeper understanding of the broader context and to navigate the current situation more effectively. Furthermore, it mitigates the impact of rumours and misinformation. It is crucial to disseminate information not only during periods of success, but also during challenging times. 
4. It is essential to analyse the figures. 

We analyse plans and results in order to ascertain which goals have been achieved and which have not, and to identify the reasons for this. This enables us to determine which tasks require transformation or postponement until the next period, and which should be terminated. Each stage is supported by an in-depth examination of market dynamics, trends and external factors influencing our business.

Based on this analysis, new plans are developed in line with current circumstances, with the understanding that adjustments may be necessary during the quarter or earlier. While external threats, such as war and instability, may occasionally require us to deviate from our planned course of action, the fundamental elements that define our long-term strategy remain consistent: our goals and vision.

Following each annual strategic meeting, a summary session is held with a select group of senior managers. This allows us to optimise the data received from the team and crystallise the next steps, which in turn inform the formulation of the strategy.  

The outcome of a successful strategy session is, first and foremost, a comprehensive understanding of the company’s strategic objectives for a specified period. During such sessions, the team and executives align their visions and draw conclusions based on all the presentations. Effective preparation for a major meeting directly impacts the efficacy of the session, and thus the precision and clarity of the future strategy and the implementation of the company’s goals.