Services
Strategy Formulation and Implementation
Strategy Formulation and Implementation
We work with our clients on formulating a strategy to
create economic value and implementing that strategy successfully. The
work may encompass formulating vision/mission statements, building a
framework to evaluate possible strategies, aligning organization to the
strategy (organization design, reward system) and establishing
implementation priorities.
We follow a 5 step process
(H. K. Christensen):
(1) Goals
(2) Scope
(3) Competitive Strategy
(4) Internal Arrangements
(5) Operations
First, an organization needs to have an
explicit goal. An implicit goal is not good enough
(if you aren't going anywhere in particular,
that's exactly where you'll go).
Goals (Vision, Mission) drive product/market
scope. It's about which products or services to offer in which markets.
Competitive strategy is needed to convert a
market opportunity into a successful performance. The competitive strategy
indicates how to compete in its product/market space.
Internal arrangements cover the organization
structure, systems/processes (rewards, performance evaluation etc.),
leadership, and corporate culture.
Finally, efficient operations need to be
coupled with the strategy, so that day-to-day activities support the
organization's goals.
Common
Errors in Developing Competitive Strategies
Strategy Glossary
SWOT
Analysis