When this happens, you will need to either adapt your strategy or begin the process over again. Some organizations can maintain a strategic plan for a year or longer, while others have to respond to market changes more frequently.
Whatever your situation, just be prepared to let go and switch strategies as necessary.
To do this, match external opportunities and threats with your internal strengths and weaknesses, as illustrated in the matrix below: *To access the worksheets under “Tools & Techniques” please refer to our Strategic Planning Kit for Dummies.
Evaluate the options you’ve generated, and identify the ones that give the greatest benefit, and that best achieve the mission and vision of your organization.
Corrective action needs to be taken quickly to compensate for the dynamic business environment most organizations operate within.
*To access the worksheets under “Tools & Techniques” please refer to our Strategic Planning Kit for Dummies.
Having a good strategy dictates “how” you travel the road you have selected and effective execution makes sure you are checking in along the way.
On average, this process can take between three and four months.
You need to choose someone to oversee the implementation (Chief Strategy Officer or Strategy Director) and then you need some of the key individuals and decision makers for this team.
It should be a small group of approximately 12-15 persons.