Five Key Principles of Corporate Performance Management

Chapter 5. Principle 2: Refresh and Communicate Strategy

	Don’t measure yourself by what you have accomplished, but by what you should have accomplished with your ability.
	--JOHN WOODEN

This chapter covers several case studies focused on Principle 2, Refresh and Communicate Strategy best practices. Award-winning enterprises have refined and developed this core process and leveraged it as competitive advantage.

The Crown case study will provide both the Crown-specific best practices and expand discussion on normative Principle 2 best practices learned from the collective companies researched. See Exhibit 5.1 for a summary of Principle 2 best practices.

Table 5.1. Principle 2: Refresh and Communicate Strategy Best Practice Summary

Best Practice	Description
Strategic planning	Leverage the strategic planning process as either owner or partner to understand changing market conditions including competitor, supplier, rival, and potential entrants and substitutes in the marketplace.
Core and adjacent products and services	Define and determine core and adjacent products and services to focus on highest probabilities for success.
Strategic plan	Produce a comprehensive strategic plan.
Strategy mapping	Develop a strategy map containing objectives along four perspectives including financial, customer/constituent, process, and people. Observe strategy map design parameters of 20 to 25 objectives.
Link strategic ...