[MUSIC PLAYING] Let's take a look at guiding principle number five. Be bold, stay focused, and keep it as simple as possible. This guiding principle is about simplicity. Strategic leaders practice smart simplicity. This means focus on key priorities and the easiest and most effective solution for every strategic initiative. It's about helping your organization or team to reach its strategic goals by going back to the basics in face of complexities that could potentially hinder execution. As a leader, it's your goal to help your team to prioritize high-value tasks that are needed for execution. Implementation can become an overly complicated process, but it doesn't have to be. This can be achieved by urging your team to prioritize speed and value simplicity during the implementation process. But it starts with defining clear goals and aligning strategy with these goals. The EIU survey shows the number one weakness in strategy is lack of clarity and simplicity. And guiding principle number five is the key to turning this around. Let's take IKEA, for example. IKEA is a Swedish-founded multinational that designs and sells ready-to-assemble furniture, operating more than 400 stores in 49 countries. What makes IKEA so successful? Their vision is to create a better everyday life for many people. Their strategy is so clear. They offer a wide range of well-designed, functional home furnishing products at a price so low that most people will be able to afford them. IKEA has explicitly defined its target customer. Its value proposition guides its strategy delivery. Their straightforward approach to implement this strategy starts with the price tag for each piece. Maximize the use of raw material. Focus on quality and beautiful design that supports easy-to-assemble furniture. In their stores, you will see the same simplicity-- showrooms, one-way layout, and self-service pickup. This helps customers to find what they need but also keeps the cost of products and operations low. So what does this principle mean? It means that as a leader, first, you keep your team focused on key priorities and promote conditions that can help them easily react and navigate complex situations. Second, you help your team prioritize speed and simplicity to deliver this strategy. And third one, you balance the mindset between focusing on the goal and being responsive to challenges. OK. So that all sounds good, but how do you do it? Here is a tip. The best way to remain nimble is to surround yourself with simplifiers. What do we mean by that? You need people who can clearly identify the driving forces behind opportunities and threats and take actions that is aligned with your execution. That way, you can take educated risks, prioritize work, ensure accountability, and finally, focus on delivering value. Now let's put this into practice. How do leaders support teams in staying focused and prioritizing simplicity and speed? First, they reduce bureaucracy and roadblocks in the implementation process. Second, they encourage an agile mindset to deliver results faster and better. And third, they empower teams to take actions and take on risks whenever required.