You may not have heard of Morris Chang, but you should. As the founder of Taiwan Semiconductor Manufacturing Company (TSMC), Chang's strategic vision transformed it into a global leader in semiconductor manufacturing. TSMC produces about 90% of the world's advanced chips, powering everything from iPhones to AI and electric vehicles, impacting your daily life.
Chang's quote underscores a vital leadership truth: the best leaders excel at both strategy and execution. Yet many struggle with crafting an executable strategy. Here's a simple, actionable approach to utilize:
Determine Your Vision: Define success and your ultimate goal. Reflect deeply, as a clear vision is the foundation of an executable strategy.
Identify Priorities: List 3-5 key priorities to achieve your vision. Assess your current state, target state, and the gap between them. Consider necessary resources and stakeholder input.
Develop KPIs and Champions: Create key performance indicators (KPI) for each priority and assign champions for execution. Use tools like scoreboards and regular updates to ensure accountability.
Sustain and Adjust: Strategy must evolve with changing circumstances. Regularly reassess and update your strategy to stay competitive.
In my experience, leaders often have valuable insights but lack the framework to turn ideas into action. Catalyst Point Leadership Advisors provides the tools and expertise to transform your vision into reality. If you need help developing an executable strategy, let's connect.
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