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Strategy development methodology

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Strategy Development Methodology commences with inspirational, ambitious and above all clear vision which it then progresses into practical and feasible strategic plan. First half is dedicated to defining core strategy while second half defines implementation of strategy execution elements. Follow the process, step by step, through 23 infographic slides.

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Strategy development methodology

  1. 1. I N F O G R A P H I C STRATEGY DEVELOPMENT METHODOLOGY Y O U R R O A D T O O U S T A N D I N G C O M P A N Y created by Alex Milovanovich www.poslovnastrategija.rs
  2. 2. DESCRIBE YOUR BUSINESS VISION vision must be inspirational, ambitious and clear in order to yield executable strategy created at www.poslovnastrategija.rs
  3. 3. AGREE BUSINESS MISSION AND VALUES TO ADHERE define main business activity e.g. your offer, to whom and where created at www.poslovnastrategija.rs
  4. 4. TURN VISION INTO PRACTICAL AND FEASIBLE STRATEGIC PLAN created at www.poslovnastrategija.rs
  5. 5. • Products / services • Consumers / users • Buyers (who is shopping?) created at www.poslovnastrategija.rs FORMULATE YOUR CORE STRATEGY FIRST define in detail your products, services, target markets and customer segments to whom your products are intended
  6. 6. created at www.poslovnastrategija.rs • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition perform detailed analysis of the business environment from multiple perspectives such as market size, customer buying power, competition, political, regulatory and technological factors and their specific impact on your business FORMULATE YOUR CORE STRATEGY FIRST
  7. 7. created at www.poslovnastrategija.rs • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition • SWOT analysis after analysing external environment look at internal “affairs“ too in order to identify strengths, weaknesses, opportunities and threats FORMULATE YOUR CORE STRATEGY FIRST
  8. 8. • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition • SWOT analysis • Business model created at www.poslovnastrategija.rs define business mechanism and required resources which will generate profit by offering your products / services to your market(s) FORMULATE YOUR CORE STRATEGY FIRST
  9. 9. created at www.poslovnastrategija.rs • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition • SWOT analysis • Business model • Strategic goals select ambitious goals which can turn your vision into reality; they are specific, clearly defined and quantified (new) market position and/or internal capability of your company after a specified period FORMULATE YOUR CORE STRATEGY FIRST
  10. 10. created at www.poslovnastrategija.rs • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition • SWOT analysis • Business model • Strategic goals • Capital structure based on resources required to reach agreed goals within agreed time calculate required capital; is it available internally or you must look for new partners, investors and/or loans? FORMULATE YOUR CORE STRATEGY FIRST
  11. 11. created at www.poslovnastrategija.rs • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition • SWOT analysis • Business model • Strategic goals • Capital structure • Key suppliers • Strategic partners FORMULATE YOUR CORE STRATEGY FIRST they will complement and make your business model feasible
  12. 12. created at www.poslovnastrategija.rs • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition • SWOT analysis • Business model • Strategic goals • Capital structure • Key suppliers • Strategic partners • Marketing mix formulate the way you’ll approach target market(s), reach potential customers / buyers and promote your products and services FORMULATE YOUR CORE STRATEGY FIRST
  13. 13. created at www.poslovnastrategija.rs IMPLEMENT ENABLERS FOR SUCCESSFUL STRATEGY EXECUTION strategy becomes executable with a bridge of effective and efficient organisational elements (internal processes and procedures, human and technological capabilities, structure and culture of innovation among others) which connect its core with operations
  14. 14. • Processes and procedures created at www.poslovnastrategija.rs well implemented technological and business processes and procedures enable employees to move resources and information to a next level smoothly and without interruptions making their assignments and projects completed efficiently IMPLEMENT ENABLERS FOR SUCCESSFUL STRATEGY EXECUTION
  15. 15. • Processes and procedures • Managing teams and individuals created at www.poslovnastrategija.rs well implemented organisational management process will result in a working environment where all teams become aware of own responsibility and goals which is a prerequisite for good business results IMPLEMENT ENABLERS FOR SUCCESSFUL STRATEGY EXECUTION
  16. 16. • Processes and procedures • Managing teams and individuals • Managing information created at www.poslovnastrategija.rs information management must provide necessary support at all levels of the organisation for informed and on time decision making IMPLEMENT ENABLERS FOR SUCCESSFUL STRATEGY EXECUTION
  17. 17. • Processes and procedures • Managing teams and individuals • Managing information • Corporate management including Corporate Social Responsibility created at www.poslovnastrategija.rs effective and sustainable strategy integrates customer, society and business in a way which is not built on compromise IMPLEMENT ENABLERS FOR SUCCESSFUL STRATEGY EXECUTION
  18. 18. created at www.poslovnastrategija.rs turn strategic goals into objectives as specific, clearly defined change of internal or market capability of your company (action) towards achieving specific new state of affairs (target) within a specific time • Processes and procedures • Managing teams and individuals • Managing information • Corporate management including Corporate Social Responsibility • Objectives IMPLEMENT ENABLERS FOR SUCCESSFUL STRATEGY EXECUTION
  19. 19. created at www.poslovnastrategija.rs • Processes and procedures • Managing teams and individuals • Managing information • Corporate management including Corporate Social Responsibility • Objectives • 360° KPI dashboard use Kaplan & Norton’s Balanced Scorecard for 360° monitoring and presenting of strategic objectives and related KPI-s IMPLEMENT ENABLERS FOR SUCCESSFUL STRATEGY EXECUTION Financial Perspective GOALS MEASURES Internal Business Perspective GOALS MEASURES Customer Perspective GOALS MEASURES Innovation and Learning Perspective GOALS MEASURES Source: BS – Measures that Drive Performance, R S Kaplan & D P Norton, HBR Jan-Feb 1992 360 Degrees SCORECARD Links Performance Measures How do customers see us? How do we look to shareholders? What must we excel at? Can we continue to improve and create value? analysis idea solution implementation analysis idea solution implementation
  20. 20. created at www.poslovnastrategija.rs • Processes and procedures • Managing teams and individuals • Managing information • Corporate management including Corporate Social Responsibility • Objectives • 360° KPI dashboard • Change management to relax and overcome resistance to change greatly encourage open communication with employees from the very beginning IMPLEMENT ENABLERS FOR SUCCESSFUL STRATEGY EXECUTION
  21. 21. created at www.poslovnastrategija.rs • Processes and procedures • Managing teams and individuals • Managing information • Corporate management including Corporate Social Responsibility • Objectives • 360° KPI dashboard • Change management • Risk management effective risk management not only reduces negative effects of various crises but also brings additional benefits such as savings IMPLEMENT ENABLERS FOR SUCCESSFUL STRATEGY EXECUTION
  22. 22. KEY STEPS IN STRATEGY DEVELOPMENT STRATEGY EXECUTION 1. Processes and procedures 2. Managing teams and individuals 3. Managing information 4. Corporate management including Corporate Social Responsibility 5. Objectives 6. 360° KPI dashboard 7. Change management 8. Risk management created at www.poslovnastrategija.rs CORE STRATEGY 1. Products / services 2. Consumers / users 3. Buyers 4. Business environment 5. Markets 6. Competition 7. SWOT analysis 8. Business model 9. Strategic goals 10. Capital structure 11. Key suppliers 12. Strategic partners 13. Marketing mix
  23. 23. Business Strategy in Balkans I N F O G R A P H I C STRATEGY DEVELOPMENT METHODOLOGY Y O U R R O A D T O O U T S T A N D I N G C O M P A N Y created by Alex Milovanovich for contacting visit www.poslovnastrategija.rs

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