Good strategy development and implementation are rare, but when it is done properly it can transform an organisation and give it a purpose and vitality that drives success . These are key best practice elements we have come across :
The strategy must have a measurable goal – the more specific the goals the better . Doubling the value of the business in 5 years is not a bad starting point.
Its more about the Process than the Plan . A good logical process that is empowering and inclusive will create a lot of internal momentum to drive the company in the right direction . The Plan itself should become just a record of the thinking rather than tablets of stone
One reason seemingly good strategies fail is because management does not integrate the strategic objectives into its management systems and reports . If reducing costs is a key strategic priority , then the first part of management report and Board report should focus on this issue . If there are 5 key strategic tasks , then monthly reports and Board reports need to be configured so progress is monitored and measured .
‘What gets measured gets managed’ says management guru Peter Drucker. If you are looking for assistance with your Strategic Planning Process, Contact us