1. Create a vision statement.<\/strong><\/p>\n A vision is a clear view of the future in behavioral terms. It is what success looks like.<\/p>\n For example, the vision statement of eBay is to provide consumers with an intercontinental marketplace through the world wide web, allowing almost anyone to trade a host of items easily, with this mechanism allowing for a host of financial opportunities across the globe.<\/p>\n 2. Agree on key business strategies.<\/strong><\/p>\n After the creation of a vision statement, decide on strategies, which are the \u201cPillars\u201d or the key elements of success. It is the company\u2019s approach to how they will get there.<\/p>\n For example, using the aforementioned vision statement from eBay, a strategy would be \u201cEnable Total Payment Volume and Revenue.\u201d<\/p>\n 3. Develop goals for each strategy.<\/strong><\/p>\n After agreement on business strategies, develop measurable and actionable business objectives.<\/p>\n For example, a goal for the strategy, \u201cEnable Total Payment Volume and Revenue\u201d would be \u201cAttain Revenue of $200M.\u201d<\/p>\n 4. Establish key measurements and performance indicators (KPIs) for each strategy.<\/strong><\/p>\n After the development of strategic goals, either obtain from the company\u2019s scorecard and dashboard or identify process metrics to evaluate and ensure progress and measure accountability.<\/p>\n For example, a KPI for the goal, \u201cAttain Revenue of $200M\u201d would be \u201cIncremental Revenue.\u201d Incremental Revenue is defined as incremental income from sales of goods or services. It is helpful to look at revenue on a per product, geography, or customer basis. The calculation would be the sum of sales.<\/p>\n 5. Determine tactics to achieve goals<\/strong>.<\/p>\n After the establishment of KPIs, list the individual activities or projects led by individuals to execute the strategy. These can be cross-functional initiatives, as you collaborate with other business functions within your company.<\/p>\n For example, an activity to generate \u201cIncremental Revenue\u201d would be to convert new merchant leads from an external source.<\/p>\n 6. Distribute throughout the organization and use the framework to have leaders, functional areas, business units and project teams align their goals, measurements and tactics with those of the business.<\/strong><\/p>\n 7. Communicate throughout the organization.<\/strong><\/p>\n In this document (available for download for free from Flevy here)<\/a>, I provided the 7 Steps to Produce a SoaP that is an outcome of Strategy and Planning Management. Strategy and Planning Management provides the ability to deliver long-term strategic and financial goals; provides next-step guidance to meet strategic initiatives; enables trade-off decisions subsequent to planning processes; and, supports multi-dimensional views for risk management. With a completed SoaP, you now have a plan that aligns business strategies with functional goals and tactical measurements on one page.<\/p>\n","protected":false},"excerpt":{"rendered":" Every year you are asked to assess the previous year\u2019s business performance and update your strategies to meet the needs of a changing environment, including new opportunities and emerging opposition to your business\u2019 efforts. You have to schedule a brainstorming session with your business leaders, review your company\u2019s vision and mission statements, measure current state… 7 Steps to Produce a Strategy-on-a-Page (SoaP)<\/span><\/a><\/p>\n","protected":false},"author":84,"featured_media":2390,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[81],"tags":[5,76,1084,482,1083],"class_list":["post-2389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategy","tag-business-strategy","tag-corporate-strategy","tag-soap","tag-swot","tag-vision"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/2389","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=2389"}],"version-history":[{"count":3,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/2389\/revisions"}],"predecessor-version":[{"id":2395,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/2389\/revisions\/2395"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/2390"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=2389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=2389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=2389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"soap\"](\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2016\/03\/soap.png\")
<\/a><\/p>\n7 Steps to Producing a SoaP<\/strong><\/h2>\n