You Review Your Strategy How Often?

There’s a good article from McKinsey here.

A few key points from the man who runs Ford, which had 2012 revenue of $36.5Bn, and profit of $5.7Bn:

1.    The leadership team meet every week to review the strategy and modify it where necessary. Note that:
– They review the environment (gather input) every week.
– Even though they run a very large organization, the senior leadership doesn’t consider itself too busy to meet every week on the thing that is most important to it.
– The leaders don’t consider weekly meetings on something that has a massive lag measurement (increased profits of 10% p.a.) too frequent.

2.    The leadership team review corporate information every week. This means that they have corporate information to review every week. There obviously aren’t a lot of people in Ford who think that they are above ensuring data is entered into corporate computers.

3.    The CEO of Ford gets his energy to run his business from his family, exercise, and spiritual well-being. Interesting. He doesn’t say that he imposes this on the rest of the organization, but he recognized the importance of spiritual well-being in his life, and the need for balance in life in order to work effectively.

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