Everyone is looking for an edge, or advantage, in business. How do we win? How do we get ahead? What is the angle that will drive our company’s ... Read more
A common problem with strategic plans is not the plan itself but a lack of organisational capability to execute.
True North designs and facilitates strategic planning processes that are tailored specifically to the needs and situation of your organisation. We advocate that all organisations have strategies in place that provide a broad planning framework across a three to five year timeframe.
The strategic planning process addresses four key pieces of work. Firstly a review and resetting of organisational purpose. The organisations fundamental purpose for being, why at its core does it exist. The vision and mission for the organisation. With this clearly stated and understood the planning work then moves to assess and evaluate the environmental forces
affecting the organisation. Markets, competition, economy, technology and the regulatory issues that are and will impact as the organisation moves forward.
Next in the process is a thorough review of results across a balanced scorecard of metrics. Based on the purpose of the organisation and a thorough review and evaluation of environmental issues, a view can now be formed about what result
s should be possible, expected and desired. The strategic stewards of the organisation are now in a position to identify the sort of strategies that need to be put into place, and according to which priorities. Results and their corresponding strategies will be balanced if they are considered and prioritised across eight areas; service, products, financial, people, culture, brand, marketing and systems.
A strategy singularly focused and skewed towards just financial elements is likely to be flawed because little focus is placed on the other result areas which actually generate financial results E.G. service, product, marketing etc.
With this strategic framework in place the organisation is now positioned to put operational plans into place for each of the next successive three years. Operational plans describe the specific measurable tactics that will be actioned in a defined timeframe across the organisations structure, systems, people and culture. These are the actions that together will execute the strategy across three annual iterations.
Strategy is also flawed when it is not well understood by its key stakeholders and when stakeholders fail
to understand their role in executing the strategy. For this reason care need to be taken with regards to who is involved in the process of formulating strategy, how they are involved and how the rest of the organisation will be communicated with and engaged to support.
A common problem with strategic plans is not the plan itself but a lack of organisational capability to execute. Specifically the required capabilities are in the areas of leadership and teamwork.
Latest posts
Should is a road to a place called nowhere. Success is a place found on a road called must. Especially in such volatile, uncertain, complex and ... Read more
Contact Banner
