A strategic imperative is a business goal or objective that has the highest priority. For some companies, it could be building their brand; for others it could be expanding internationally. Or it could be a concerted move to digitise the business and leverage on online platforms within a certain timeframe. All these are means of growing or sustaining the business, or making it more competitive. Brand-building will heighten a firm’s profile, leading to an increase in its value. Domestic markets may be limited, hence the need to go abroad. To do all this, the firm will need to streamline or upgrade its technology and expand its digital capabilities.
Strategic imperatives may be known as other terms as well, such as business imperatives or priorities, or strategic priorities. But while there may be conversations about the priorities of the business, strategic priorities are seldom talked about. Organisations which want to use strategic imperatives for sustainability, competitiveness or growth, need to firstly consider developing a strategic imperatives framework. Using this framework, the idea of strategic imperatives may be communicated to staff. In the process of this communication, the firm may start to determine if it has what it takes to achieve the imperatives it has identified.
Communication is crucial to strategic imperatives because it bridges the gap between planning and doing. Staff need to know what the organisation’s strategy is, before putting it into operation. The board and senior management need to be as clear and concise about it at the initial stage so that communicating subsequent strategies will be easier.
9 The IERP® Monthly Newsletter December 2021