Mastering the Art of Strategic Prioritisation

Welcome to a new financial year, where strategic prioritisation takes centre stage in the conversations I’m having with Executive Teams. This powerful tool goes beyond the confines of divisional thinking and requires an enterprise-wide perspective. It’s about gaining clarity on what truly drives value and growth for the business and having the courage to let go of projects that don’t align with those strategic levers.

What gets in the way of Strategic Prioritisation?

• Holding onto divisional or individual priorities that do not align with broader business objectives.
• Limited enterprise-wide thinking and strategic vision.
• Lack of clarity regarding growth and value levers.
• Reluctance to have robust conversations and make necessary trade-offs due to a lack of trust and disciplined strategic rigour among the executive team.
• Trying to deliver too many programs and projects 

As you embark on strategic prioritisation, consider the following steps to maximise impact:

1.Clarity on Value and Growth Levers: Gain a deep understanding of the specific levers that drive value and growth within your organisation. This clarity serves as a solid foundation for making informed and strategic decisions.

2. Connect and Align: Establish strong connections between these value levers and the work happening across different divisions and functions. Foster alignment and synergy to ensure that everyone is working towards shared goals and objectives.

3. Absorption Capacity: Recognise the capacity of your business and each division to absorb and execute strategic initiatives effectively. Understanding these limitations helps avoid overload and ensures focused execution.

4. Flow and Alignment: Evaluate how work flows across functions and divisions. Identify connections and dependencies, fostering a cohesive and coordinated approach. By considering the interplay between different areas, you can optimise workflows and achieve greater efficiency.

To prepare for a strategic prioritisation meeting, let’s explore key steps that can set you up for success:

1.Pre-work and Reflection: Approach the meeting with the right mindset by investing time in pre-work and reflection. This intentional preparation ensures that you bring valuable insights and ideas to the table, contributing effectively to the discussion.

2.Disciplined Prioritisation: Nudging difficult conversations along the way is essential. Embrace the push and pull dynamics, asking open-ended questions and fostering curiosity. This disciplined approach helps uncover valuable insights and perspectives.

3. Overcoming Roadblocks: Several obstacles can hinder strategic prioritisation. Avoid taking on too much, ensure you’re working at the right level, and let go of divisional or individual priorities that don’t align with broader business objectives. Foster enterprise-wide thinking and embrace a strategic vision that drives growth.

Incorporating strategic prioritisation into your business practices empowers you to make informed decisions, drive growth, and maximise impact. By focusing on what truly matters, you can navigate the complexities of the business landscape with clarity and purpose. Embrace this transformative approach and unlock the full potential of your organisation in the new financial year.