To prosper and grow in the long term, a business needs a clear strategy which provides a sustainable competitive advantage. A business strategy is not an abstract concept, but a detailed roadmap for the future, including quantified objectives, an action plan for implementation and a controlling system. Strategies are developed in a strategic planning process which combines analytical thinking and creativity. Experience shows that strategies often fail in the implementation phase. Therefore, it is vital to involve the key decision makers in the strategy formulation who are in charge of executing the strategy.
- Develop a common understanding about where your company stands and what the best future direction will be.
- Formulate a consistent growth strategy using an effective planning process.
- Translate your growth strategy into action by defining operational objectives
- Align individual objectives behind corporate goals
- Develop a roadmap for implementation
- Strategic management and "hands-on management"
- Why strategic planning is more than just "number-crunching"
- The goal of strategy: Profitable growth and a sustainable competitive advantage
- From global to local to "glocal" strategy
- Organizing for strategic planning: Communication, deadlines, input required, planning tools
- Who should be involved in the planning process?
- The strategic planning process
- Defining the vision and mission
- Analyzing the company's situation (external environment and internal situation)
- Defining SMART operational objectives
- Specifying the strategy
- Developing an action plan to implement the strategy
- Establishing a controlling mechanism to monitor implementation
- The strategy implementation process
- Leadership for strategy implementation
- Aligning individual objectives with operational objectives
- Holding management accountable
- Reviewing progress periodically against defined metrics
- Managing the change process involved in implementation
