Developing your Business Strategy
from Managing American.com 05 Aug 13 enhanced by Peter/CXO Wiz4biz 5/14
What’s most important? When we talk about being strategic we focus more on thinking & planning, than on leading & achieving. The reality is that “being strategic” requires both; it’s the full transformation from your Dream to Realization. It’s not that we forget to transform our Vision, but often our approach to leading that change is not effective enough to generate our desired results. Here is a model for strategic transformation-how to make your vision real.
Thinking & Planning. Before you can transform an organization, you must first define its current state and then plan for its future position. This is the “Thinking & Planning stage” of being strategic. It allows you to assess what is currently “feasible”, as well as “visualize” the gaps that must be filled through analysis & change:
1. Define & quantify “The Market” today, as well as future trends.
2. Assess your “current” financial & cultural situation.
3. Understand your customer’s “perception” of your business vs. their needs & expectations.
4. Determine how you want to “change” all of that over a period of time, 12-24 months, or 3-5 years.
5. Develop the company’s Vision and determine how it impact.
6. Establish short-term Objectives, measurable by key performance indicators & timing milestones
How are you doing so far? Do you have this stage of the strategic process as part of your routine? Most of us do, and most of us are part of a team that works together to master the thinking & planning stage. But what about transforming the strategy into results? Are you strategic enough to make that happen?
Leading & Achieving. Your thought process alone will not generate results. Certain actions are required to create a new strategic reality. So when you think about “quantifying” how strategic you actually are, it is important to think beyond the theoretical question of where you want to go, and think instead about what you will do to ensure the strategy transforms your organization. This is the Leading & Achieving stage of being strategic. It is a process of “Strategic Transformation” allowing you to “consciously change” the organization into something you want it to be. There are three (3) key components necessary to transition strategy into results. Once you understand them, you can perform in a way that makes strategy real. Your ability to do so, defines how strategic you actually are, and sets you, your team & your business apart from the rest.
Three Key Components To Transform your Strategy Into Results
1) The Objectives Of Your Organization
2) Your Actions
3) Your Team’s Actions
[ Three Key Components To Transform Strategy Into Results, 1) The Objectives Of Your Organization 2) Your Actions, 3) Your Team’s Actions, in Premium Content ]