Strategies that work
*Clarifying and translating vision into strategy – identifying strategic objectives and capturing them in a strategic map. This requires the business leaders to reach consensus on what the strategic objectives truly are, and that all objects are linked to deliverables.
*Communicating strategic objectives and measures and linking them to Operations – this includes establishing a two -way communication with stakeholders to encourage dialogue to refine processes and promote feedback.
*Planning targets to align strategic involves – including identifying targets of each of the objectives measured by the KPIs. Ideally, individual targets are set for strategic objectives and projects, which are in turn linked to the larger strategic objectives.
*Enhancing strategic feedback and learning – this includes learning from performance information and using the findings from the balanced scorecard to refine decision making.
Strategic Management: four critical processes
Implementing the strategy monitored by the Balanced Scorecard and Performance Indicators, company-wide, should be the key to the success- ful realization of the strategic vision and goals which will result in
Step By Step
- Information Gathering and SWOT analysis Managing Change
- Identification of critical issues facing the organization
- Development of a strategic vision statement that sets future direction
- Mission statement review / revision
- Development of strategic Goals
- Formulation of objectives for each goal
- Preparation of operational plan based on the strategic plan
- Balanced Score Card which is the visual representation of what is integral to achieving the vision and
PLAN OF ACTION
- Thorough advanced planning workshop, agenda development and facilitation plan, Pre-meeting and interview with Key stakeholders to understand perspectives and
- Provide a change agenda and formulate a coherent strategy with Vision, Mission, Values , and corporate objectives of the
- Review and enhance current strategy and performance framework
- Update & refresh current corporate strategic
- Align core operation and support units using KPI Management &
KPIs & Balanced Scorecard
The Balanced Scorecard is a strategic planning and management system used to align business actives o the vision statement of the organization. balanced scorecards have long been used in strategic business management to track KPIs (key performance indicators) and they are designed to provide a framework to manage resources. There re our basic viewpoints or perspectives to take with he KPI balanced scorecard:
Tracking financial performance.
- Return On Investment
- Cash Flow
- Return on Capital Employed
- Financial Results (Quarterly / Yearly)
Tracking customer satisfaction,
attitudes, and market share goals.
- Delivery performance to customer
- Quality performance for customer
- Customer satisfaction rate
- Customer percentage of the market
- Customer retention rate
Internal process perspective
Operational goals needed to
meet customer objectives.
- Number of actives per function
- Duplicate actives across functions
- Process alignment Process bottlenecks
- Process automation
The learning and growth
or innovation perspective
Intangible drivers for the future.
- Is there the correct level of expertise for the job?
- Employee turnover
- Job satisfaction
- Training/Learning opportunities