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| Author: | Gadiesh, O. Gilbert, J. L. |
| Title: | Transforming Corner-Office Strategy into Frontline Action |
| Journal: | Harvard Business Review
2001 : MAY, VOL. 79:5, p. 72-79 |
| Index terms: | STRATEGY CORPORATE STRATEGY COMPANIES |
| Language: | eng |
| Abstract: | In this article, the authors, Bain consultants, explore the concept of the strategic principle - a memorable and actionable phrase that distils a company's corporate strategy into its unique essence and communicates it across an organization. The authors outline the three denning characteristics of a good strategic principle - it should force trade-offs between competing resource demands, it should serve as a test for the strategic soundness of a particular action, and it should set clear boundaries for employees to operate within even as it grants them freedom to experiment. They explain how managers can create a strategic principle, how they should test it, and when they should revisit it. The authors present real-world examples of how companies use their strategic principles. |
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