Like many people around the world, Americans have caught World Cup fever. The early success of the USA national team has contributed greatly to this spike in interest, but so too have the high level of competition, the intense passion of the teams and their fans, the drama of pressure-filled games, and the strategy deployed by the coaches.

I see strong parallels between the importance of strategy on the football (or soccer) field and in the corporate board room.

Whether USA coach Jurgen Klinsmann selecting the right players and determining the correct approach for each match or business executives developing a plan to achieve their organization’s objectives, the right strategy is crucial.

Each successful strategy starts by defining a set of specific objectives that need to be achieved within a certain time. To achieve these objectives, one must figure out what capabilities are needed, then select the approach to best use these capabilities within the timeframe. The resources, whether soccer players or analytical consultants, must be given clear key performance indicators (KPI) and results to achieve.

A good example of how this strategic process was used is in the recent knock-out World Cup match between the Netherlands and Mexico. The Dutch team was undefeated in the initial group stage, and have shown an amazing level of energy and discipline. The Mexican team started the game with aggressive attacks and coordination. After a scoreless first half (and the first official “cooling break” from the sweltering heat), the Netherlands coach focused on a strategy to have his strong offensive players create opportunities in front of the Mexican goal. They stuck with it, and it paid off.

Having clear objectives that are attainable within a reasonable timeframe makes the difference between winning and losing, whether in business or football. I observed this successful approach in a recent meeting with large financial services client. This bank identified data quality as a key priority, and decided to focus on improving it quickly. They then developed an organizational structure to own and execute their plan with clear and attainable objectives.

I have little doubt that if they stick with their strategy (which includes a mix of the right skills, processes, technology and culture), they will achieve their goal. Or as famed sportscaster Andrés Cantor might say, their “Goooooooal!!!”

Photo by Global Panorama // attribution by creative commons