Your Strategy Needs a Foundation
There is a lot going on in the world. The COVID-19 pandemic continues to impact every aspect of our lives, even as many jurisdictions looks to reopen their economies safely. And over the last few months, the global discussion about racial inequality and systemic racism has once again come to the fore. That’s happened before, but this time it feels different with many organizations publicly expressing support for reforms, including a message to members from PMI president & CEO Sunil Prashara.
The COVID-19 crisis and the response to racial injustice highlight something that all organizations need to understand—that developing and executing strategies alone is not enough. Organizations need to have values—they need to stand for something.
I saw a recent TV commercial for a major U.S. retailer. The company’s message was that it didn’t see the customer and employee safety as a priority—because priorities change over time. Instead, they saw safety as a value—a core part of what made the company what it is. That struck me. It’s a powerful message at a time when virtually every other commercial is from companies talking about how safety is their highest priority. The practical aspects of safety are probably the same in those businesses, but the distinction is important: priority vs. value.
Organizations have long talked about culture and values, but to
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