What are the key elements of a business that need to be aligned for strategic alignment?

Strategic alignment can help in avoiding business failure by ensuring that all elements of a business, including the market strategy and the way the company is organized, are arranged to best support the fulfillment of its long-term purpose. This alignment allows for a more efficient and effective operation, as all parts of the business are working towards the same goals. It also helps in identifying and addressing any potential issues or gaps in the strategy or structure of the business, thereby reducing the risk of failure.

Strategic alignment is considered an elusive goal for many companies because it involves aligning all elements of a business, including the market strategy and the way the company is organized, to best support the fulfillment of its long-term purpose. This is challenging because while a company's purpose generally doesn't change, strategies and organizational structures do. Therefore, maintaining alignment between strategy and the organization can feel like chasing an elusive will-o'-the-wisp.