There is a growing trend of businesses rapidly evolving and growing as we regain a semblance of normality after being winded by a global pandemic.
At face value, this sounds enormously positive. However, we are still navigating murky waters with the challenges that Covid may still bring when winter rolls in and, coupled with ongoing rapid changes in technology and market needs, unpredictable change may be something we need to get comfortable with for the foreseeable future.
Given the multiple factors at play, is your business really ready to grow in a climate of uncertainty? How do you ensure your business is ready to handle such growth?
Let’s discuss three fundamental areas that are pivotal to ensure that your business is ready to grow:
- Organisation design
It’s likely that you have your entire strategy mapped out and that it includes numerous fundamental goals, such as the management of capital, how to identify and best use key partnerships, product development or solution refinement, as well as scaling and staffing. This is the ‘what’ of the strategy. However, to gain buy-in from role-players in the business, you need the ‘why’, or what is referred to as strategic narrative.
In simple terms, the strategic narrative is your business story. It is the human side of the business and should articulate the purpose of your business – what is the reason for its existence? What are your long-term ambitions for the business? What behaviours are employees expected to exhibit to support the business growth? Essentially, the strategic narrative is the glue that aligns and drives the organisation forward. It is also an essential component of creating high-performing teams.
To begin creating a strategic narrative, the organisation should consider the following questions:
- Why do we exist?
- Where are we headed?
- How do we intend to get there?
- How can we make this clear for everyone to understand?
Talk to experts about their strategic narrative and how this evolved whilst scaling up. Find someone you trust to give you and your team feedback on your strategic narrative.
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