TLC is commonly recognized as “Tender Loving Care,” and while it certainly applies to the CEO’s essential emotional commitment to the company, I like to define this acronym differently. As it relates to successful strategy management, TLC refers to the CEO’s commitment to “Time, Leadership and Change.” Let me explain.
Time – Committing quality time to the strategy process is critical, and the CEO must balance time demands in order keep the organization engaged and motivated while ensuring attention to the day-to-day needs of the business. Managers will generally welcome an opportunity to participate in the strategy management process, but it is difficult to invest time in both strategy and their day-to-day responsibilities. It is the CEO’s responsibility and challenge to make sure that the strategy execution does not fall behind while ensuring the business’s needs are met.
Leadership – Leading strategy management is the most important role of the CEO—you cannot delegate leadership of the strategy to anyone. Leadership means taking charge, communicating your strategic objectives, ensuring the process moves along, and requiring commitment from the strategy team. Commitment from the top is the fundamental link to a robust, workable and winning strategy.
Change – Business renewal or optimization often requires courage to change. The challenge for many organizations is to acknowledge that the status quo is no longer acceptable, and change is needed, and then to take the necessary action steps. The CEO’s responsibility as “Senior Change Agent” is to encourage change throughout the organization, and require commitment to the strategy’s execution.
The strategy management process requires a great deal of attention and commitment. A little “TLC” from the CEO will go a long way in helping to make it a positive experience and a success. Are you leading the strategy management process?
“Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.” —Jack Welch
About Albu Consulting
Dick Albu is the founder and president of Albu consulting LLC, a strategy management consulting firm focused on engaging and energizing leadership teams of middle market private and family businesses. With offices in Stamford, CT, the firm is dedicated to making a positive difference in the lives of Owners, Families and Employees. For 23 years, Albu Consulting has helped its clients formulate robust business strategies and follow through on execution of key strategic initiatives. Please visit Albu Consulting’s website for more information at www.albuconsulting.com.
Dick Albu, President & Founder, can be reached at 203-321-2147 or RAlbu@albuconsulting.com.
Rob Krist, Managing Director, can be reached at RKrist@albuconsulting.com.