The 4 strategic questions the new CEO of an iconic brand asked to lead it back to growth after years of declining sales.
The 4 strategic questions returned the company to five years of top and bottom line growth and doubled enterprise value.
𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆 𝗶𝘀 𝗮𝗯𝗼𝘂𝘁 𝗰𝗵𝗼𝗶𝗰𝗲𝘀...𝘁𝗼 𝘄𝗶𝗻 𝗮 𝗰𝗼𝗺𝗽𝗮𝗻𝘆 𝗺𝘂𝘀𝘁 𝗰𝗵𝗼𝗼𝘀𝗲 𝘄𝗵𝗮𝘁 𝘁𝗼 𝗱𝗼 𝗮𝗻𝗱 𝘄𝗵𝗮𝘁 𝗻𝗼𝘁 𝘁𝗼 𝗱𝗼.
So when Chip Bergh started as the new CEO of Levi Strauss & Co. he interviewed the top 60 executives and asked them all these 4 strategic questions.
𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻 #𝟭: 𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘁𝗵𝗿𝗲𝗲 𝘁𝗵𝗶𝗻𝗴𝘀 𝘄𝗲 𝘀𝗵𝗼𝘂𝗹𝗱 𝗻𝗼𝘁 𝗰𝗵𝗮𝗻𝗴𝗲?
𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻 #𝟮: 𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘁𝗵𝗿𝗲𝗲 𝘁𝗵𝗶𝗻𝗴𝘀 𝘄𝗲 𝗮𝗯𝘀𝗼𝗹𝘂𝘁𝗲𝗹𝘆 𝗺𝘂𝘀𝘁 𝗰𝗵𝗮𝗻𝗴𝗲?
𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻 #𝟯: 𝗪𝗵𝗮𝘁'𝘀 𝗼𝗻𝗲 𝘁𝗵𝗶𝗻𝗴 𝘆𝗼𝘂'𝗿𝗲 𝗵𝗼𝗽𝗶𝗻𝗴 𝗜'𝗹𝗹 𝗱𝗼?
𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻 #𝟰: 𝗪𝗵𝗮𝘁'𝘀 𝗼𝗻𝗲 𝘁𝗵𝗶𝗻𝗴 𝘆𝗼𝘂'𝗿𝗲 𝗮𝗳𝗿𝗮𝗶𝗱 𝗜 𝗺𝗮𝘆 𝗱𝗼?
Does your business strategy make explicit choices of what to do and what not to do?
Source: HBR July-August 2018; The CEO of Levi Strauss on leading an iconic brand back to growth by Chip Bergh