Strategy Development and Deployment
A strategy outlines the long-term direction of an organization and determine how resources should be allocated to satisfy shareholders, customers, employees, and communities in order to realize sustainable competitive advantage.
A strategy outlines the long-term direction of an organization and determine how resources should be allocated to satisfy shareholders, customers, employees, and communities in order to realize sustainable competitive advantage. Whether it is a macro corporate strategy or one that is specific to a function, operation, or business unit it is wise to start by analyzing the current state, outline SWOT analysis, examine the market and competitive environment, anticipate changes in the market or industry, and draw a path to a future state outlined in a strategic architecture.
In today's environment, change is happening so frequently that a long-term strategy set in stone may not be feasible. Future is very difficult to predict so strategies should be reviewed, updated, and communicated frequently. Many strategies fail because of they are not clearly defined, open to interpretation, have incorrect assumptions, not inclusive of different functions or operations, rely on unproven technology, and lack a customer-centric approach. They may also set up unrealistic expectations and under estimate the efforts and resources required.
The strategy outlines a number of initiatives and changes needed to move the organization from a current to better and brighter future state. Components required to form a successful strategy should include elements related to people, process, technology, and data.
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