The ‘Golden Thread’ is a metaphor for the decisions, data / analytical processes, technology, and human behavior that link strategy and results. Each bend, twist and cut of the thread reduces the quality of the gold delivered at the end of the process. How do organizations lose sight of the ‘Golden Thread’?
To begin with, firms are large, functional organizations with multiple stakeholders involved in the decision making process. Conflicting functional objectives (e.g., revenues, quarterly profits, share of voice, product vs. portfolio, etc.) introduce constraints and compromises.In addition, data and analytics processes clarify (or dampen) business decisions.
Moreover, the growing complexity of markets, regulatory requirements, data, methodology and technology has led to the proliferation and hyper-specialization of roles touching targeting decisions. Finally, there is the ‘people factor’ … human behavior is simply hard to anticipate. Hence, the ‘Golden Thread’ gets tarnished (or even broken entirely) on the journey from strategy to execution.
Excellent marketing and selling organizations are aware of the ‘Golden Thread’, and strive to align decisions, processes, and behaviors accordingly.
Axtria’s Principals, Charlie Thompson and David Wood, will present this topic at Pharmaceutical Management Science Association fall symposium (www.pmsa.net)
To discuss your company’s sales targeting process, profitability leakages, and evaluate if your organization has 24 carats in its golden thread, please contact Axtria.