Managing Strategy

Nov 8th, 2012 | By | Category: Management

A strategy is a look at the future environment and identifying the path to reach one’s own target or intended position within that environment. Creating a strategic plan with objectives that are manageable and achievable to reach an ideal vision requires a collective team effort.

A strategic plan should not be a document to be prepared and filed away, but a working reference for a longer term journey. The considered environment that is identified becomes the route map that needs to be reviewed with the changing environmental conditions.
Whether one prepares a strategy for one’s own personal development and journey or for a business entity, the considered environment needs to be realistic for the plans laid down to be achievable.
However, the real value of a strategic plan would be evident if the set targets and objectives could be monitored and are measureable. Therefore the set objectives need to be Specific, Measureable, Achievable, Realistic and Time-bound.
In reality there may be many paths to follow to reach your goals, but it is the availability of information and knowledge that will help you make the best decisions. As you would consult an architect and a builder with good experience as well as skills to construct a building, a consultant with a broader experience in management, together with proven skills and knowledge would help identify the best route as well as to give an independent opinion.
Making a plan is one thing; but setting out on a journey and going according to plan needs regular monitoring and taking action to take corrective measures according to the changing environment to make for a timely and successful journey.
There are many tools that can be used along the way for monitoring the various aspects such as Quality, resource management, productivity, efficiency and effectiveness. These could be systems such as ISO 9000 quality management system and Balance score card among others.
What is also an important consideration are the appropriate tools for the work environment. The effective use of IT will give a significant competitive advantage when used efficiently.
As in planning to win in a game of chess, one should consider the Physical, structural, temporal and spiritual aspects and strengths needed for the journey to get to one’s destination.

Comments are closed.