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Component Manufacturing dverti$er
Don’t Forget! You Saw it in the
Adverti$er
November 2019 #11244 Page #26
Set the Course of Your Business Ben Hershey 4Ward Consulting Group, LLC
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any of us just returned from this year’s BCMC show. How appropriate it was to be in Columbus, a city named after a visionary who discovered the new world, and the theme was “Set Your Course.” In your business, no matter the role you serve, you have a chance to set the course for success through vision, strategy and tactics. As we enter the last two months of 2019, let’s take what we’ve learned from BCMC and tune up our strategies for 2020.
Setting Strategic Direction: Vision, Strategy, and Tactics A lot of companies I work with will stumble when establishing a vision statement. It sounds nice. Inspiring, even. But the vision is useless unless it can direct action. Your vision lays out a destination; your destination guides your strategy; and strategy chooses action. It’s action that leads to success. In those moments of action, having clear direction is crucial for building momentum. If your organization is like most, you will spend weeks debating every word crafting your vision, mission, strategy, and goals. But no matter how lofty, if they aren’t created in a way that provides direction, those statements are little more than high-priced indulgences. Maybe you came away from the BCMC show thinking that you need to retool your vision for the next few years. But make sure you know what you want to retool—is it vision or strategy? One of your employees may suggest that you “Provide our customers a faster installation of components in the field” as a vision. Another employee may look at that and say, “That’s a strategy.” Here are some useful definitions that will help you decide if you’ve set a direction that can truly get traction.
Envisioning the Future Vision is timeless. It’s based on who/what you want to do. It’s why you’ve got an organization in the first place. It must be specific enough that everyone can use it to decide if their work is moving the company forward. Progress towards the vision must be measurable. A vision is independent of specific competition and, while it may mention the customer, it must guide even someone who doesn’t know the customer’s mind. The best visions imply whom the company serves, what it provides, and what distinguishes it from other companies providing the same products and services. Vision sets the broad direction. It says, “Go west, young man.” Continued next page
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