Creating Actionable Strategy your organisation can take forward
How often do companies create strategies which they do not act on, either because the strategy is just too complex for the organisation or because it is out of date by the time it is completed and approved? By combining iterative strategy methodologies, originally used for fast paced internet businesses, with more traditional corporate strategy development approaches, we have created simple methodologies which can be used at any level of the organisation.
From Traditional Strategic Planning…
Traditionally, the strategy planning process is long and cumbersome. Frequently, it involves updating various standard strategy documents which are heavy on general analysis and light on actionable recommendations.
In organisation with multiple business units and segments, each business unit and segment is free to create its own strategic plan with varied success at coordination at the top.
To Strategy Critique and Actionable Strategy Creation…
There are two things which can be done quickly to add speed and rigour to the strategic planning process:
- Create a separate “Strategy Support/Critique” document which, using external trends and documented strategy, raises strategic questions which need to be addressed in the various strategic plans.
- Develop a higher level strategy document which succinctly lays out longer term presumptions tied to business drivers, the trends/facts supporting them, risks to the business, and, finally, specific strategic actions/next steps for senior leadership to move forward on.
This is just one example of how Edge Advisory can use our real world experience to add value. We would be happy to go into more detail on this and other ways in which we can help create, get buy-into, and implement actionable strategy and roadmaps for your business.