Most companies understand the benefits of standardizing critical processes: reduced variation, higher throughput and quality, and lower costs. Yet they tend to approach strategic decisions completely differently, thinking that each one is unique and requires its own bespoke process. As a result, they handle similar decisions in vastly different ways. That inconsistency slows them down and leads to suboptimal choices and poor results—a problem that was clear in a survey of executives by Bain & Company. There’s no reason, however, that the strategy process can’t become standard work, just as manufacturing processes are. Several leading companies demonstrate how. Their executives attack strategic decision-making in three stages: First, they set priorities by articulating a performance ambition, comparing it against a multiyear outlook, and identifying which issues must be addressed to close the gaps between them. Those issues go onto a strategic backlog. Next, for each issue on the backlog, they methodically gather facts and explore alternatives and then make highly specific choices and commitments. Last, they monitor their success at meeting those commitments, making adjustments and, if needed, returning issues to the backlog. By adopting a rigorous approach to strategy, these companies are able to reduce waste, move faster, make wiser choices, and gain a competitive edge.
Read more here https://hbr.org/2025/05/lean-strategy-making?ab=HP-hero-featured-1
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