Strategy Development

Where is the business going?  Where do you want to be?  If you can’t answer these questions then you won’t be getting there anytime soon.  Are your plans aligned with other documents in your business or is there a disconnect? Your Strategy development is an important aspect of your business.  This is what sets you apart from other similar businesses in the marketplace.

There are many tools available to help you plan, but don’t get caught up in your SWOT analysis and environmental scans alone, you need to consider a range of “big questions”.

1. What are your goals and aspirations for your business?
2. Where do you choose to conduct your business – of the potentially wide field available which areas will you target?
3. How will you compete against your competitors?
4. What capabilities do you need to build and maintain to hold your competitive position?
5. What systems and processes do you need to operate or build to maintain your key capabilities?

The key is to ensure your answers to those 5 questions are consistent and support one another.

Underpinning this is how you make your decisions within the business. These are usually reflected in your values. This in turn should be reflected in your leaders and their leadership style.

It is also important to check the strategy development tactics are cascaded down through your other key business documents:

• Performance Agreements
• Positions Descriptions
• Employment Contracts