Good strategy development and implementation are rare in Mining , but when it is done properly it can transform a mining 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 within employees 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 they sit on the shelf and management does not integrate the strategic objectives into its daily 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