Measuring progress and impact is only useful if you’re willing to act on the results. Once we’ve gathered feedback, our program presidents and CEO decide whether to continue with the existing strategy or to make adjustments. If necessary, they seek approval from Bill and Melinda to change course or refine the strategy.
These types of refinements typically take place every three to five years. During a process we call a strategy refresh, we take stock of each strategy and the extent to which it has accomplished our key goals. We consider the need to make adjustments or change course. This process is more in-depth and exhaustive than the annual strategy reviews. It typically resembles Stage One—Develop Strategy, except there is an added emphasis on looking back at the previous strategy and learning from our work.