Strategic Case Blog
|Posted on June 15, 2016 at 7:40 AM|
A 90-day plan is important for your new leader to align with the company, set expectations for early stage activities, as well as, learning and integration. However, in light of career expectations of the new leader and strategic expectations of the company, there needs to be a much broader and reaching approach to give the most to your new CxO and get the most from them.
Often companies will look at the new addition during the hiring process to determine what they bring in terms of skillsets, contacts, past history with prior companies to determine what their new leader brings to the table. That is all well and good, and essential to the selection and on-boarding processes.
A characteristic of top successful organizations is the ability to go far beyond analyzing what they bring to the table. Market leading companies will seek vibrant change and impact to their overall business. A top recruit, the right person, should be able to bring this level of impact to your company. If they don’t, then either they are not the right person, or you haven’t created the environment where this can occur.
A strategic assessment of the overall business impacts that are needed for growth of the company is an essential part of making this process successful. The strategic assessment will identify the opportunities and risks not just of the functional area of your new CEO, CFO, COO, CIO, CRO, or Chief Engineer, but of the overall business. Keep in mind that the business includes all stakeholders, not just your immediate organization. As a result, now there will be a plan for overall business impact vs just improvement of a single functional area.
Strategy development can start either in the functional area or at the top business level. Don't gnash your teeth over which to start with first. Choose the starting point that makes most sense. The important point is to start. A strategic plan should always come first, otherwise you are relegated to just reacting as best as you can.