Business Strategy Partnering
What We Aim to Achieve With You
- A defined vision for the business
- A set of strategic objectives that carry the business towards its vision
- A strategic analysis based on facts about the business, the market, the customers, the competition and the environment
- A framework in which to test proposed activities, changes and projects as to whether they fit with the strategic objectives
- Firm action plans by which to achieve the objectives
- A coherent link from strategic plans to annual budgets and forecasts
How Do We Do That?
- Often we hold a strategy development workshop with you and your key managers to come up with clear statements of vision and strategic objectives. If this is not done by workshop, there will always be some sort of discussion, since clarity on vision and objectives is the essential starting point for strategy development.
- Gather together a factbase of information about the business and the competitive environment in which it operates;
- Discuss the factbase with you in order to develop a list of issues, prioritised by the value they mean to the business (either value to create or value to protect);
- Select a manageable number of those issues and thrash them out as specific, measureable, achievable, realistic and timely (SMART) objectives;
- Discuss what opportunities are available for actions, changes and projects to work towards the agreed objectives, and formalise these into plans with measureable targets;
- From all that work create a multiple year financial plan and a one year budget that are consistent and that all management buys in to.
This encapsulates a process that big companies go through to develop strategic plans, but it can take teams of experts months of work to complete. For small businesses the same discipline can be used, but it doesn’t take as long, depending, of course, on the size and complexity of the business. The essential ingredients in developing strategy are:
- A clear business vision
- Accurate facts about the business and as much as can be gathered about the external environment
- SMART objectives based on facts
- Business plans that are directly related to achieving the agreed objectives
In smaller, simple, businesses these essentials can be achieved in a short series of discussions which results in some target numbers. Something more rigorous and formal would be required as the business gets larger and/or more complex. The process that is right for you is what we want to find, and that is something that we will talk about when the time comes.
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