Remuneration is not only about how much to pay, it is about driving the implementation of the strategy at executive level and ensuring that the organisation is heading in the right direction at the right speed. This is where strategy hits the tarmac … this is where strategy becomes very real!
Values define the culture and culture eats strategy for breakfast!
In today’s fast changing world, organisations need to keep re-evaluating their strategy. Clem Sunter, South Africa’s most highly regarded scenario planner and strategist, refers to scenario planning, which is about looking at what the future may hold, identifying certain scenarios and what flags would you see if a scenario was becoming more likely. An organisation then develops strategies that would best suit it to negotiate and thrive in the different scenarios. And as per his book, “The Fox and the Hedgehog”, continually scan the horizon and be ready to adapt to the future.
This process may appear to be too complex for many organisations, especially medium and smaller businesses.
Khokhela can assist organisations who wish to review or develop strategies that will allow them to be flexible and prepare for changes that are on the horizon or beyond.
Organisations need to define why they exist … what value they offering to the world. This purpose should not change often, if at all. This is normally the one constant by which organisations can steer themselves. Purpose driven organisations see value as more than just financial, stakeholders and shareholders and should focus on the long-term and not only the short-term. Purpose is more about what the organisation does to add value to the world.
An organisation’s vision is about managers views of where they want the company to be in the future. How will the organisation deliver on the purpose.
The mission is about how to get there. What does the organisation need to do from a high-level view to achieve the vision and deliver on the purpose.
Values are the guiding principles which will help the organisation determine how to behave. Values define the culture.
An example of the above is often the best way to explain the difference.
Purpose: We uplift the lives of people who live in the regions we operate in by ensuring that infrastructure projects deliver on what they are meant to achieve.
Vision: To be the number one infrastructure project management company in the Southern Africa.
Mission: We advise and project manage infrastructure projects so that they are delivered on time, are efficiently and effectively completed and add value to the community.
Values: Respect, trust, honest, responsible, accountable and invested.
Strategic Objectives and action plans: Develop the key strategic objectives based on the above, prioritise and agree on the detailed actions.