Strategy

Strategy

Strategy is a much used word these days, but one that is used loosely to cover a multitude of areas. We use it in the sense that it is crucial to know what you are trying to achieve, and have a shared plan of how this to be done. Most companies have a budget, but that is often created by taking the current situation and just 'adding a bit', without ever pausing to ask some more fundamental questions such as:-

• What business are we in?
• What are key offerings in terms of goods and services? And,
  • How do these compare to our competitors offerings?
• Who are our target markets?
• Why are we in business?
• What are the key dependencies within our business?

These are just a few of questions all businesses need to be able to answer. It is important that the whole business knows the plan, and the part they play within it; know how they are being measured, what constitutes success and what the warning signs are. If your strategy / plan is just a binder on the shelves of a few directors it will never really do it's job of focusing, guiding and galvanising your organisation. We help ensure that you not only have a plan, but that it is properly communicated and understood, then followed up and enacted.

REASONS WHY STRATEGIC PLANS FAIL:

• Lack of vision
• Lack of information about key elements either within the business or the marketplace and the external environment
• Unrealistic in terms of the degree of change or the resources required
• Poor communication
• Lack or follow-up
• Failure to manage Change
• Everybody too busy doing what they always do
• People don't understand their roles or the interdependencies. This is often linked to lack of proper and clear accountability.

Here is a link to one of our Strategic Planning Tools.

© I-Change 2008