STRATEGY MANAGEMENT
Vision & Mission Development
Successful organisations are able to clearly illustrate their vision and mission. A vision statement describes the organisation’s ultimate goal, which is then supported by a mission statement that describes what the organisation does to achieve its goal. The vision & mission statement becomes the foundation for an organisation’s strategic direction. It provides purpose, objective and enables alignment of understanding amongst stakeholders.
Long-term & Midterm Goals
An essential part of strategic planning is to define the steps in which to reach a goal. With dividing the steps into a long-term and midterm goals, organisations are able to map out the process of their journey ensuring an achievable advancement towards their desired destination.
Strategy Analysis & Formulation
Navigating through the ever-changing world, every organisation will have a unique approach to reaching their goal. Through analysing the strengths, weaknesses, opportunities, and threats, an organization is able to formulate the most appropriate course of action in achieving their vision.
Strategy Mapping (Balanced Scorecard)
The journey of growth requires a clear visual map that shows the destination and the pathways leading towards it. Strategy mapping provides an organisation a means to communicate and align their strategy hence enabling employees to understand the overall strategy and their role in achieving this. The Balanced Scorecard is an effective methodology to visualize strategy and break it down to KPIs and Strategic Initiatives.
Strategy Measurement with KPIs
A prerequisite to organisational success is the development of an accurate, definable and measurable goal. Most goals are achieved through multiple individuals in a variety of teams across the organisation. Defining strategic objectives into Key Performance Indicators (KPI) has become the preferred approach to confront this matter. KPI aligns the vision and organisational objectives to the divisional, department and individual goal and allows organisations to track performance and project success through quantifiable measures.
Strategy Translation to Initiatives
Many organisations will encounter difficulty in executing their strategies mainly due to the challenges in developing actions and task that support the final objective. Staying ahead of the competition means that organisations will need to systematically align its objectives with Strategic Initiatives. Translating goals into initiatives creates an effective and actionable measures that drives strategy execution and performance improvement.
Strategy Alignment
Strategy Implementation Monitoring & Evaluation
In today’s competitive environment, organisations that excel in execution are supported by an ongoing mechanism to monitor progress. In addition to the commitment of the strategic planning process, organizations are required to review the process that follows. Monitoring and evaluation are the process that ensures continuous improvement by learning from past and current practices. This allows adjustments in strategies that will result in improved performance.
A fundamental aim for organisations is to lead its people towards a common destination. In doing so, its people must fully understand the purpose of the journey, who are on the journey and how they are able to reach their destination together. Through a comprehensive strategic alignment, organisations are able to synergize employees and teams in collaboration, working toward the organisation’s vision and goals.