Developing a roadmap to achieve your business goal, developing key strategic advantage and positioning your firm to win is the key goal of strategic management. You firm then must execute your firm’s vision on time, and on budget to deliver results.
There are business ‘tools’ and frameworks to help you conceptualize and plan your strategic path. These include:
- Stakeholder Mapping
- SMART goal-setting, Visioning
- Gap Analysis
- Case Analysis
- Weight-factor analysis
- Root Cause Analysis
- McKinsey 7S and BCG framing, Advanced Strategy Development
- Workflow Process Analysis and Business Process Redesign
- Brainstorming and Ideation
- Regression and Revenue Modelling
- Strategic Computer Modelling and Outcomes Scenario Planning
- Getting It Done Kit
- Performance Management and Risk Modelling
I employ the Six-Sigma process used by many manufacturing and service firms to ensure quality product and service process improvements. It is a five-step process: D.M.A.I.C.
- Define the problem and metrics, targets and SMART goals (subjective, measurable, achievable, realistic, time-bound)
- Measure and document the current situation, marketing KPIs, and stakeholder maps. Perform executive, managerial, line and staff interviews.
- Analyze and brainstorm the ideal situation solution. Do a Gap-Analysis of current and desired state. Perform additional research and analysis, data modelling and process improvement analysis. Identify the skills and resources necessary to improve and meet the Gap analysis.
- Improve the current situation: Develop the action plan for delivering the improvements and meeting goals and objectives. Begin education and skills training, staffing and program rollout. Roll out the plan.
- Control the program rollout and process through performance management agreements or management by objectives. Implement flawlessly. Revise and review as tactics as necessary. Record and compare results to targets, and document for continuous improvement.