Successful business development requires a multi-disciplinary approach that goes beyond just selling a product or service. Strategic managment or a detailed strategy for growing and sustaining a business is necessary. Strategic management involves formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its goals and objectives.
The process includes specifying and clarifying organizational objectives, developing policies and procedures to achieve those objectives, and allocating resources to implement the policies and procedures.
In other words, strategic management provides overall direction to the organization and is a critical component of business development.
Strategic management begins with a strong leadership, sound strategic planning and the creation of a dynamic Strategic Business Model (SBM).
STRATEGIC PLANNING
If people cannot see and understand the vision and remember the mission, they will not integrate it into their daily decision making.
Unless the vision and the mission are used on a daily basis to test the appropriateness of current or proposed activity, the effort to create the mission was wasted. |
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Knowing the strategic areas that drive your organization and the excellence required to support that strategy is akin to understanding what strategic weapon will give you a distinct and sustainable advantage in the marketplace.
The result of an effective strategic planning process and the creation of a Strategic Business Model is a set of assignments to which people of the organization can respond.
A strategic plan has 2 basic elements:
- It defines long range key objectives (2-5 years or more)
- It defines day-to-day "business fundamentals"
The purpose of a strategic plan is to provide a detailed road map to help an organization focus on long-range objectives while continuously improving key business processes day-to-day.
STRATEGIC BUSINESS MODEL (SBM)
The process begins with the development of a Strategic Business Model (SBM). Our SBM helps leadership define the vision, implementation and spirit of the organization. Once clear; each area will measure itself against the overall objective of the organization by:
- creating its vision (as it relates to the company vision)
- developing measurements to gauge progress
- creating systems to execute goals and expectations
- addressing human capital issues to ensure the right people are in place to develop and implement the systems
A well developed Strategic Business Model can provide a road map for the organization by outlining the direction and purpose for each area. It also indicates the flow of communication and emphasizes the importance of each area working cross-functionally with other areas of the organization.
To view an example of our Strategic Business Model, click here.
Once the SBM is in place, the strategic planning process can move forward. The process uses fourteen steps to create a tailor-made management system. It includes a strategic analysis and incorporates 9 basic methods to drive the strategic thinking process.
"Strategic Thinking" is when an organization's direction-givers can rise above the daily managerial processes and crises to gain different perspectives of the internal and external dynamics causing change in their environment.
Strategic thinkers must have the skills of looking both forward and backwards while knowing where their organization is at the present. Leadership with strategic thinking ability is able to take wise risks to achieve their organization's purpose, while avoiding having to repeat the mistakes of the past.
We can help build and sustain a successful, profitable, growing organization by creating a balance in every aspect of the business. Contact us directly to find out how we can help you implement your own strategic business model.
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