{"id":34621,"date":"2024-07-19T19:26:39","date_gmt":"2024-07-19T19:26:39","guid":{"rendered":"https:\/\/prophet.com\/?p=34621"},"modified":"2024-08-28T17:11:31","modified_gmt":"2024-08-28T17:11:31","slug":"new-strategy-same-old-story-your-story-of-value-needs-an-update","status":"publish","type":"post","link":"https:\/\/prophet.com\/2024\/07\/new-strategy-same-old-story-your-story-of-value-needs-an-update\/","title":{"rendered":"New Strategy, Same Old Story: Your Story of Value Needs an Update"},"content":{"rendered":"\n
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New Strategy, Same Old Story: Your Story of Value Needs an Update<\/h1>\n\n\n\n

How updating your Story of Value can close the value gap and accelerate strategy execution.<\/p>\n<\/div>\n\n\n\n

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The Frustrating Gap between Strategy Definition and Value Capture   <\/h2>\n\n\n\n

The poly-crisis moment that we (hopefully) are all navigating has generated a nearly ubiquitous reset of corporate strategies. According to Gartner, 79% of CEOs will have revisited their business strategy for the post-crisis environment by the end of 2024. These companies are now shifting attention to strategy activation to capture both productivity gains and growth.  <\/p>\n\n\n\n

This is a profound pivot and, not surprisingly, teams are struggling to execute at pace. In our work with CEOs beginning in late 2022 and extending to today, we have seen a sharp increase in dissatisfaction with what you could call \u201cvalue appreciation\u201d. These laments commonly take one of the following forms:     <\/p>\n\n\n\n

The Valuation Gap<\/strong> – \u201cOur topline performance is strong, and we\u2019ve built a superior platform. We\u2019re aligned to long-tail secular trends. But analysts are having to work too hard to find that story line.\u201d \u2013 Technology CEO<\/em> <\/p>\n\n\n\n

The Differentiation Gap<\/strong> – \u201cWe have a unique collection of assets, especially our software\/hardware stack, but no one, including our sales teams, can articulate a distinctive value proposition.\u201d \u2013 Industrial CEO<\/em>  <\/p>\n\n\n\n

The Narrative Gap<\/strong> – \u201cOur balance sheet is strong. Our portfolio matches the market. We have talented teams and everyone is working hard. But our corporate narrative is outdated. Everyone has their own version of what\u2019s going on. We need a new, clearer, more inspiring story to rally around.\u201d \u2013 Financial Services CEO  <\/em> <\/p>\n\n\n\n

These sentiments and others like them are being expressed by talented executives that have led global teams through multiple crises. They have successfully updated their strategies to meet the moment. Yet today they are also identifying a missing link between strategy articulation and in-market execution. Gaps that have material impact on share price, sales performance and talent economics.  <\/p>\n\n\n\n

The Story of Value <\/h2>\n\n\n\n

Working with these leaders Prophet has developed a new leadership tool, The Story of Value. At the highest level, the story of value brings the assets of business – both hard and intangible – into a sharp, distinctive and inspiring narrative. It is a story that crystalizes the value that the business creates for shareholders, customers and employees, defining its unique and essential role in the world. It simplifies a complex business into a compelling statement of value – a common language for executives and teams in words that are proven to win in the market.     <\/p>\n\n\n\n

Companies are using Stories of Value to pull business strategy forward into various strategy execution workflows, including: <\/p>\n\n\n\n