Planning a strategy and committing it to paper does not guarantee future growth and success. No matter how well designed an organisational strategy is, it will fail if poorly executed. Organisations that have strategic planning processes and strategy management practices in place will outperform organisations that don’t have them.
Strategic management is the collection of activities and processes that organisations use to coordinate and align resources and actions with mission, vision and strategy throughout their business.
“The reason most people never reach their goals is that they don’t define them, or ever seriously consider them as believable or achievable. Winners can tell you where they are going, what they plan to do along the way, and who will be sharing the adventure with them” — Denis Waitley
To successfully execute your strategy, everyone needs to have the same understanding of what the story of the organisation is, where it is going and what it will focus on to get there. Through good strategic management activities, you transform a strategy plan into a system that provides feedback on performance that in turn will improve decision making and help a strategy to evolve as requirements and circumstances change.
To be able to answer ‘yes’ to our first question, you need to have considered the following areas:
Lavery McGlynn can help your business to plan, focus, make better decisions, and grow.
For any organisation there are 2 key types of planning – strategic and operational.
Performance measurement give your business focus and help to accelerate change.
However beautiful the strategy, you should occasionally look at the results.