Facilitating Project Performance Improvement: A Practical Guide to Multi-Level Learning

By Jerry Julian | Go to book overview

7

FACILITATING LEVEL 3:
STRATEGIC PORTFOLIO
ALIGNMENT

As representatives of investors, shareholders, or the public in general, senior leaders are responsible for establishing the organization's mission and vision, as well as its strategic objectives and plans. These objectives may include enhancing revenue growth, improving productivity, increasing customer loyalty, or delivering higher levels of service. To accomplish these aims, strategies must often be translated into discrete projects and programs that must be executed effectively in order to produce the business transformation desired. These initiatives often represent significant investments, and may include such things as developing and launching innovative new products, making operations and technology improvements that increase quality and productivity, upgrading supply chain technologies, executing mergers and acquisitions that grow the firm's market share and increase its competitiveness, or finding ways to deliver business results to customers faster and more effectively than ever before.

While senior teams and their designates are responsible for formulating successful strategies, these strategies will almost always need to be enhanced, adjusted, and modified as conditions “on the ground” change and new information becomes available. The reality is that strategies require continual refinement to ensure that they are effective and relevant. Adapting strategies to changing conditions is not a sign of weakness, vulnerability, or lack of determination. Rather, when effective learning mechanisms are in place, adaptation is a sign of strength, competitiveness, and strategic agility that will enable the organization to utilize its resources more efficiently in achieving its strategic aims. The benefits include re-

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