Strategy work and the strategy process can sound tedious and boring. But when done well, it is an inspiring process that produces a strategy that will enable future success. Strategy work and strategy process can be either very light or extensive, depending on the situation of the company. The key question is whether to slightly update the existing strategy or to build a completely new strategy.
Companies now prefer shorter strategy periods (around 3-5 years), within which the strategy is reviewed, for example, quarterly and also updated on a rolling basis, for example, annually. In most cases, therefore, strategy work is very dynamic and the actual strategy process takes place in a continuous dialogue and cycle between planning, implementation, analysis, learning and redesign.
A good strategy process is recognised by the fact that:
Updating the current strategy
Good strategy work always starts from reality, not from perfection. If the aim is to update the current strategy, there is no point in starting a strategy process that is too heavy. The key to updating is to identify which parts of the strategy process remain unchanged, which parts change and why. The first stage is followed by a facilitated process of data collection, analysis, discussion, participation and finally decision-making on the strategy update. The end result is a crystallised and updated strategy that can be immediately implemented in everyday life and that people in the organisation immediately recognise as their own.
Building a completely new strategy
When strategy work starts to build a completely new and/or different strategy with a different goal, it is a much more extensive and time-consuming process, but one that, if done professionally, will progress smoothly and inspiringly to the final strategy and its implementation.
In such a situation, strategy work usually involves the following steps:
1.Background work:
Key stakeholders are involved in the creation of the strategy and existing data is crystallised to help understand the business environment, i.e. trends and uncertainties, as well as competitors and customer needs. In addition, at this stage at the latest, the ownership strategy and ownership intent must be taken into account if they have not been clarified or clarified previously. The background work will help to make informed strategic choices in the next steps.
2. Strategy workshops:
Interactive and facilitated strategy workshops with different configurations, typically defining:
3. Implementing the strategy in everyday life:
Strategy work only really begins once the strategy has been clarified and written down. The success of the strategy work and the strategy process is measured at two levels: 1) whether the strategy is being implemented on a day-to-day basis and 2) whether the strategy is achieving its goals and objectives. If the answer to both is yes, then a successful strategy has been created. Success is also reflected in the fact that at this stage, ownership is realised, the board supports the operational management and the operational management and the whole organisation is aware of the strategy and is enthusiastic about its implementation.
At its best, strategy work and the strategy process is an inspiring and participatory whole, resulting in a strategy for success. A good strategy does not happen by itself, but often requires professional support. The best strategies usually emerge from within the organisation and its stakeholders, but the role of the strategy consultant is to facilitate and lead the productive process and work to produce a successful strategy.
Using an external partner frees up time and resources during the strategy process within the organisation. In many cases, an external partner can also support the owner-government-operational management axis to work together at a new level, and support the management and the organisation in the day-to-day implementation of the strategy.
Even the best strategy is no good in a desk drawer. The value of a strategy comes when it is translated into action in people's everyday lives.
The world is changing faster and faster, and the pace is not going to slow down. Similarly, the strategy must live not only in the present, but also in the foreseeable future.
It creates a competitive advantage, unifies decision-making, engages staff in a common purpose, and helps allocate resources.
