DEVELOPING A CORPORATE STRATEGY
The firm, its brands, services and stakeholders need to be able to look to the future with confidence. What will the organisation be focussed on in 2, 5 and 10 years time? Will it be able to retain its dominant position in the marketplace? Will its products still be perceived as world class, be able to generate profitable growth and be capable of securing the firms’s future?
Employees must be able to perceive their prospective role in the future of the firm and their pathway to personal growth within it. The firm’s customers on the other hand need to feel secure, inspired and engaged as the firm constantly seeks to develop and upgrade its offer and
re-invent how it adds value for its customers.
The role of the mission statement is to encapsulate these realities. It needs to share the organisation’s priorities, define how it sees its role with respect to its customers and stakeholders, explain how it creates value and highlight the motivations that drive the organisation to excel.
Sustainable strategy development is not about securing growth at all costs. Today’s firms and their brands are judged not just by their performance but by the way they act. Customer expectations of brands and firms are at an all time high. Firms are expected to be innovative, dynamic, transparent and authentic. They must also demonstrate inspiring values, make sacrifices where necessary and continually demonstrate their exemplar position as excellent corporate and brand citizens.
Understanding how to act on behalf of the firm and what constitutes agreed best practice is a core function of the corporate brand. Living up to perceived corporate value standards has been shown to impact more powerfully on customer attitudes and loyalty than functional performance, when customers are make choices in competitive markets.