We all know a business strategy is important for every business but even more important is the process of thinking that you will undergo, that challenges and provokes a deeper and fuller understanding of your business. What is the vision for your business? What is the destination? Is it worth going there? How will you get there? Have you got the resources to get there? Are you ready to start the journey?
Our many clients find this as the most beneficial aspect of the business planning process. The emotional and intellectual ownership of the plan by the leadership of any organisation is critical to the success of any strategy. This will increase the probability of a successful implementation of the plan.
“In a study of 200 companies in the Times 1000, 80% of directors said they had the right strategies but only 14% thought they were implementing them well, no doubt linked to the finding that despite 97% of directors having a ‘strategic vision’, only 33% reported achieving ‘significant strategic success’.
(Source: Why do only one third of UK companies achieve strategic success? – I Cobbold & G Lawrie, 2GC Ltd., May 2001.)
-Prioritisation of need
-Agreed Action plan with objectives and milestones
-Introduction of specialists
-Commence implementation plan
-Performance manage progress
-Review and adjust plan
-NXD or maintenance mode