a brief presentation on strategy development

1. STRATEGIC LEADERSHIP:

2. STRATEGY
DEVELOPMENT
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3. ARTICLES
• A Systems Thinking Approach to Corporate Strategy Development
• How Design Thinking Opens New Frontiers for Strategy Development
• The Best Strategies Don’t Just Take A Long View. They Take A Broad
View.
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4. WHAT IS STRATEGY DEVELOPMENT?
• Strategy development is the process an organization uses
to determine how it will allocate its resources and get
maximum impact from its people to achieve its objectives.
• It's the act a team will conduct to produce a measurable
and specific action plan intended to help the business
operate, innovate, and grow.
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5. WHEN DO YOU NEED TO DEVELOP NEW
STRATEGIES?
• You may not always need to develop a brand new
strategy every time you face a new challenge — you
can tweak the existing one. That's not to say you should
never scrap a strategy that isn't working. Sometimes, it's
best to start from scratch.
• In all cases, strategic decisions are a product of your
unique circumstances — if you're connected to your
strategy, you will be best placed to decide what to do
and when. 5

6. 8 Steps to Strategy Development
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7. 1. DETERMINE YOUR STRATEGIC POSITION
• Before you can set off on a new strategy adventure, you
must get a fix on your current status. As you take a
moment to review your assets and core competencies,
you can avoid any snap judgments that over-commit
your resources (or underestimate how much you need).
• You’ll also have a comparison point to look back on
when you try to measure success.
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8. 2. DEFINE YOUR VISION
• You use the SMART framework to set goals that are
Specific, Measureable, Achievable, Realistic, and
Timely.
• It's good to set KPIs (key performance indicators) at
every level, from your overarching organizational goals
to individual project targets. This approach is a great
way to clarify the roadmap and help everyone connect
their work to the vision, which closes the planning to
execution gap.
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9. • Not all objectives are created equal, and your task is
now to get your ducks in a row to show your team what
matters most.
• You must think about budget, time, impact, and the
alignment of any daily actions with your organizational
goals and overall vision.
• You may need to compromise something, but with
clarity on your objectives, your people will always know
what to focus on and what is expendable.
3. PRIORITIZE YOUR STRATEGIC OBJECTIVES
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10. • A human-centric attitude can benefit every stage of
strategy development, but it is imperative once you have
set and prioritized your primary objectives.
• Consider which individuals and teams you need to reach
each goal. In the spirit of strategy democratization, you
must bring everyone on board.
4. DECIDE WHO TO INVOLVE IN STRATEGY
DEVELOPMENT
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11. • Humans are often neglected. In your business,
remember people need to rest and have a good work-life
balance.
• Even inanimate objects like car engines or computers will
burn out quickly if they're always running, so be mindful
of your people's efforts and spread out crunches between
cool-down periods.
5. FIGURE OUT HOW TO ALLOCATE YOUR
RESOURCES
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12. 6. ROLL OUT THE EXECUTION
• At this stage, you must share information with your
organization. With a focus on team alignment, you can get
everyone on the same page about what they need to do and
how they need to do it—and why.
• When people have the details and direction, it's easier to
take action. This vital step is what helps your company make
the leap from a plan to execution.
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13. 7. REWARD EFFECTIVE PERFORMANCE
• Take your cues from your employees, and don't be afraid
to ask them what they would consider a suitable reward for
hitting their goals. Try to find a mutually agreed-on reward or
incentive structure that will help engage everyone in making
your vision theirs and making success happen as a team.
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14. 8. REVIEW AND REFOCUS
• Strategy is not like an arrow you fire at a minotaur and then
forget—it’s more like a homing fireball spell where you can tweak
your trajectory, speed, and power en route for maximum impact.
• As you track and measure your progress with real-time data
feedback, you can identify problems and discover opportunities to
add value to your strategy.
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15. CONCLUSION
• Know what you want to represent and achieve and remain true to that vision.
• Don’t compromise your identity or values, and play to your strengths.
• Must not stick too rigidly to any plan in the digital age. Sure, have a solid
strategy, but it's crucial to plan contingencies, review regularly, and make
changes whenever needed.
• People will make your vision a reality. Your people aren't pawns—they're
stakeholders you can turn into strategy activists and vision drivers. Put their
needs first, and they'll do more for your strategy and vision. 15

16. Thank You
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