Research has revealed that up to 70% of business strategies fail to get fully implemented and yet such strategies are the keystone for the success of any business. The strategic planning process in many organizations is viewed as a chore that must be endured rather than enjoyed because of the lack of a proper strategy management system that is easy to implement, effective and sustainable.

The processes involved in developing an effective and sustainable Strategic Management System include;

1. Review of the existing system; It is crucial to understand the existing system, build a high-profile strategy team, create awareness and prepare the team for the next stage.
2. Strategic Analysis; the team conducts an analysis of the organization’s strategic orientation in terms of the mission and vision as well as a thorough analysis of the internal and external factors that influence the operations of the business.
3. Strategic Design; based on the extensive analysis, design and development of the strategic plan begins including the mission and vision statements, competitive edge statement and company objectives.
4. Implementation; involves planning on how to communicate strategic goals to rest of the staff members, cascading change goals to department and individual level and monitoring of progress.

Key Benefits of implementing a Strategic Management System;

• Stay relevant in the market by analyzing the external environment within which the business is operating.
• Analyze and streamline internal processes of the organization thereby increasing efficiency
• Proactively mitigate existing or potential threats to the business and explore the opportunities available.
• Develop company objectives that are relevant and crucial to the success of the business.
• Align the entire company to a common mission and vision thereby creating less resistance to change and improve individual performance.
• Increase in profitability due to better turnover and control over costs.

 

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