Using the Strategy Pyramid Canvas you can develop a common corporate strategy in collaboration with your team to reach your objectives together. It assists you to find the right objectives and path for your company.
A successful corporate strategy helps you to do the right things. Talking about success largely depends on the acceptance of the contributing people. Hence these should be part of finding the objectives and the path towards them. The Strategy Pyramid Canvas is a collaboration tool that concretizes and visualizes the essential parts of a corporate strategy:
The Strategy Pyramid Canvas is available for free under a Creative Commons license: you may use and modify the canvas as long as you cite Datentreiber in particular as the source.
The Strategy Pyramid helps you to develop a common vision and mission together with your team. Furthermore, it also facilitates defining the guidelines and milestones necessary to reach your objectives. The common core values serve as a starting point throughout the process. Further, the Strategy Pyramid allows you to differentiate between the internal perspective (employee and shareholder view) and the external perspective (customer and partner view).
For more information, see Data Strategy Design.
In order to define a corporate strategy, it’s important to involve all decision-makers as well as all other stakeholders who are directly involved in the strategy’s implementation. These are, for example, shareholders, managing directors, senior management, and employees‘ representatives. Start with a joint workshop, preferably facilitated by an independent, for example, an external moderator, using this Strategy Pyramid Canvas. The workshop’s objective is to develop a common understanding of the company’s objective, the right direction, and the shortest path to reach the objective. By reaching consensus and clarity in the team regarding the strategy, you ensure the support of your shareholders, employees, partners, and customers as well as the understanding of the whole team.
Step 1 of 5
Start with the core values: which ethical, moral, social, or economical values does your team stand for? What’s important to you? First, collect proposals and let the workshop’s participants tell examples in which a core value helps to solve a conflict and leads to a decision based on the value. Let the team discuss the values afterward and subsequently select those values on which the team agrees. As an option, you can also think about catchy slogans for each of the values.
Step 1 of 5
Examples of slogans:
Step 2 of 5
Next, develop a common vision for your company. A vision is drawing a positive picture of your company in the future. It describes the long-term state of your company as well as the environment which it should influence in a positive way (for example the industry, the market, the whole economy, or even the whole society). Start again by collecting ideas, then discuss them and finally select those ideas on which your team can agree on and which are consistent with each other. Afterward, you can formulate a vision statement that expresses all selected ideas in one sentence.
Step 2 of 5
Examples of vision statements:
Step 3 of 5
The mission is to make the vision concrete. It answers the question of how you want to achieve the target state of your company, the market, the economy, or the society. A mission is a positive stimulus targeting internal as well as external stakeholders to implement the strategy, support the company and follow the vision.
Step 3 of 5
Examples of mission statements:
Step 4 of 5
Milestones operationalize the mission and define for various timeframes the goals to be reached. Milestones may for example quantify the number of employees and revenue or schedule product developments and financing rounds. They act as landmarks for employees regarding the strategy’s correct implementation as well as checkpoints for shareholders regarding the strategy’s effectiveness.
Step 5 of 5
Guidelines should guide your company to your vision. They do so by recommending actions which in turn lead to reaching the milestones. Guidelines answer the question of what you need to do in order to reach the goals set. Guidelines are no directives. Under certain circumstances, they can be bypassed but this should rather be the exception so that your company does not derail from its path and stays in the right direction.
As a very last step, take some time to critically reflect on the Strategy Pyramid:
If necessary, rework your strategy until it’s clear, consistent, and finds consensus among all. Question your strategy on a regular base for example in yearly strategy workshops. The core values should remain comparatively stable as they are the fundament which should only be changed in case there are good reasons for doing so, for example, major conflicts between the stakeholders. Additionally, you should avoid changing the vision and mission prematurely or too frequently. This can lead to insecurity among your employees, shareholders, customers, etc. Rather consider if your milestones (intermediate objectives) have been set in the right way (for instance too or too little ambitious) and if your guidelines really guide you towards your objective (vision), or if they rather distract you.
In the beginning, when starting out with your company, you can experiment. However, in the course of time, the experience gained from these experiments should be reflected in more narrow guidelines. Keep the findings of what worked and what didn’t, with respect to implementing your vision, as part of your guidelines. The guidelines help your company to focus on its vision.
Here you can find further documentation:
Data Thinker Group (LinkedIn)
Get to know our Data Strategy Design Method in our practical seminars:
Here you can find further canvas and information concerning Data Strategy Design:
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