Strategy Management is the first link in the BusinesSPM value chain and is the basis of the value creation. By evaluating external opportunities/threats and internal strengths/weaknesses, the company determines its strategies and priorities. Market goals and organisational capability objectives are set, and necessary resources are identified and allocated.
Incisive business strategies provide sales people with the competitive advantage they need to be successful, and they drive collaboration across the company. Of course, strategies do this only if they are the correctly formulated and correctly deployed.
Unfortunately few companies use strategy in this way, but are driven by budgets and individual objectives. Those who 'do strategy” have a Strategy Management KPD (Key Performance Driver) rating 20% higher than those who don't.
The distinguishing features of high productivity companies, with regard to Strategy Management, are:
- Their purpose and mission are clear and realistic
- Their purpose and mission are completely and effectively deployed and achievement is regularly reviewed.
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