Please enable JavaScript.
Coggle requires JavaScript to display documents.
Strategic Planning - Implementation (Why Strategies Fail (1) Inability…
Strategic Planning - Implementation
Define Strategy
Cole and Kelly (2015) define strategy as the match between what a company can do (strengths and weaknesses) within the context of what it might do (opportunities and threats).
involves identifying where we are now, where we should be going and deciding how we get there and how far we have to go.
Direction
1) Develop the plan
2) Implement the plan
3) Monitor and evaluate progress
Why Strategies Fail
1) Inability to handle the change process
2) Poorly formulated strategy
3) No guidelines for implementation
4) Poor information sharing
5) Strategy conflicts with the structure
6) Decision making not defined
Operational Framework
1) Translate the strategic plan into operational plans
2) Translate strategic goals into short-terms operational goals
3) Identify the information you have or need in order to measure performance
4) Devise performance measurement indicators for the objectives
5) Devise a monitoring process to track progress against the operational and strategic plans.
Objectives
strategic, divisional and operational level
SMART
Financial
Public Sector - service improvement
Policies - the manner in which objectives carried out
types of policies
Ethics - SIPO
Planning and Controlling
Financial Plan/ Budget
Goals and Objectives
Performance Management
strategic approach to identifying and measuring individual and organisation effectiveness and aligning same against the strategic goals and objectives of the organisation.
4 key activities
Planning
Execution
Planning
Review
Individuals -
Management by Objectives
Organisation -
Balanced Scorecard Methodology
How do customers view us
Internal Processes
Innovation
Financial Performance
KPI
monitors progress towards achieving strategic goals and objectives by comparing with strategic targets.
7S McKinsey Model of Organizational Effectiveness
Hard - Strategy, Structure, Systems
Soft - Shared Values, Skills, Style, Staff
Improve performance
Examine effect of future change
how best to implement strategy
Shared Values in the middle of the model emphasizes that these values are central to the development of all the other critical elements