How do we start developing a strategy?
Our approach to strategy is based on the work of Kaplan&Norton.
Strategy is an informed planning and execution process through which a company delivers against its vision and shareholder mandate. Whilst the vision of the company comprises of what needs to be achieved, strategy is the how it will be achieved. Strategy is implemented through tactical action plans, operational plans and strategic projects. In assisting companies in the development of their strategies, we make use of the Balanced Score Card or similar proven approaches. We also assist companies to cascade their strategies to functional, departmental and/or team level. We also ensure that the strategy is integrated into the company's performance management process.
Development starts with a clear understanding of where the business wants to go i.e. the vision). Whilst the vision provides direction, the strategy sets out what needs to be achieved.
As part of our strategy work we often engage in activities such as environment scanning, PESTEL or SWOT analyses and scenario planning. A critical aspect of strategy development is to ensure that the Balanced Score Card and strategic initiatives are defined with accountabilities, action plans and timelines.
A balanced score card in developing
a company's strategy.
Strategy is only as good as its implementation. We can develop and document the world's best strategy, but if it does not guide the organization towards achieving its vision, it is worthless. We strive to cascade the strategy from a company or enterprise level to functional and operational strategies. Each function or department is then able to understand its role in achieving the vision through our strategy development method. Once the strategy has been cascaded to operational level it can be further CORPORATE STRATEGY - continued broken down to a team or individual level, forming measurable individual goals and objectives.
Our strategy work can be followed by a review of the organizations structure and processes. We are also able to develop strategy dashboards which enable the organization and/or its functions to measure progress against strategic objectives.
Often we are asked to refine or develop the company performance management system to ensure that the strategy is actioned.
Call one of our consultants to find out more on how we can assist your organisation to:
- Develop mission and visionstatements
- Create a strategy that can be easilyimplemented
- Conduct are source analysis
- Craft a functional integration plan
- Develop performance management systems
- Develop reward and recognition plans aligned to strategy
- Develop strategy dashboards