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Developing the strategic plan by Duyen-Tho Nguyen (Risk assessment…
Developing the strategic plan
by Duyen-Tho Nguyen
Introduction
Vision:
guiding concept that contains aspiration
Mission:
reason for operating, how to achieve vision
Values:
guiding principles that direct and prioritize goals
Goals:
targets and outcome to meet vision and mission;
SMART
Developing the strategy
Operational levers:
how to achieve strategic direction through operation
Organisational and people levers:
how structure and skills support to achieve the strategic direction
Strategic drivers and options
Markets or industries
Products/ services
Customers
Channels
Competitive advantage
Evaluate strategic options:
by effort and value
Risk assessment
Determine possible causes
Possible consequences
Identify risk issues
Risk rating
Likelihood
Cost - Benefit; what-if analysis
Evaluating strategic themes
Internal consistency
External consistency
Feasibility
Competive advantage
Develop a strategic theme
strategic themes are the broad categories within which similar strategic options may be placed
Finalizing strategic plan
Setting KPM:
to ensure the strategic goals and themes are being achieved.
Conducting
a detailed pre-implementation
review to review gap