Business Strategy Formulation

It was an approach increasingly popular in the review of strategy formulation and implementation of a practical point of view, rather than focusing on content. The strategy is not just something that organizations have, but something that people inside and outside the organization into reality. An observable trend in practice has been expanding the base of participants available for the strategy process.
An extension has been asking the Commission (rightly) a greater involvement in strategy development and execution. Although this was partly as an extension of the traditional role of supervision of the Commission to ensure

management control was not suspected strategic initiatives, was also promoted as part of a practical point of view and resources the contribution of the Commission.
He also had a push down the process of management strategy and flatten hierarchies and greater knowledge and perspective of the expected benefits from the participation of several levels of management and functional areas. He also became a bit more bearable with improvements in information technology. Bidirectional communication of company objectives, analysis of the environment, studies voice-of-customer and internal analysis of the portfolio has enabled the practice of the strategy to attract a greater proportion of the management of the organization.
The consequence of this widening participation strategy of exposure to a wider range of experience, skills and knowledge of the strategy process. This will affect the way they conducted the strategy and how to deal with degrees of trust and participation. A benefits but also risks if the process does not agree and aligned.
A prerequisite to the direction of the organization should be to build a common understanding – not only the specific strategic steps, but the practices of the overall strategy and how they contribute to the development of effective strategies.
Instead of focusing on how to conduct SWOT models or make an assessment of skills, would be better first to discuss and agree on a process model of strategy and develop a common understanding of how communication and alignment will be built. This must go after the President’s longtime assistant Council recently employed marketing and management accounting and everything else.
In this regard, a strategy document or two pages has proved useful practices. It sets out specific measures and development of the strategy implementation, key deadlines, expectations of participants, and final approval will take place at each step. It may also include minutiae such as the common meaning of common strategy and how strategy meetings will take place. Agreement on issues such as measurement of regulatory strategy and emerging adaptation strategy should also be included. This document should be initiated, owned and provided by the Director General.
Although this process does not guarantee the results successful strategy, it is likely that without it, the process of the organization’s strategy will be fragmented, ad hoc and result in pockets of frustration through various levels and functions . How the strategy is carried out is an essential precursor of the strategy is developed and how it works.

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Tuesday, March 29th, 2011 Business Strategy

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