Success or failure of a business is rarely determined solely by the vision and desired outcomes of the enterprise. Surely these must exist and are foundational elements in the blueprint of a business, but initial building blocks are just that–building blocks. They characterize the “wants” and “ambitions” of the enterprise. They are most certainly critical ingredients–but only a small part of the recipe.
Companies ultimately succeed or fail based on a handful of critical competencies:
- Developing and articulating specific and measurable business objectives required to deliver the underlying goals of the enterprise
- The existence of well thought-out strategies for achieving each business objective
- The tactical initiatives that comprise each strategy
- Measures and targets to gauge our adherence to, or deviation from, plan
- A culture of accountability that rewards alignment to the strategic framework for the business, adherence to plan, and delivery on key roles in execution
These principles are simple in concept (though frequently challenging in execution), and are interlaced throughout the volumes written on the subject of management science over many decades. And while various combinations of these components certainly exist within all of our organizations, stitching them together in a way that promotes a seamless and unifying path to the desired business outcomes is the difficult part of the journey. That unifying path…or “vector”…is what we at onVector call Line of Sight.