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Challenges organisations face with Business Strategy Development:
- Over time the annual company strategy and planning cycle can become a “box ticking” exercise. The danger of this approach is that it makes the company vulnerable to changes in the market and to innovation (in products, processes or marketing) by its competitors.
- Succumbing to groupthink is also a problem, especially when people have been working together for some time or are from similar backgrounds.
- In a rapidly changing world, the company’s strategy needs to be updated regularly to take account of the sudden changes in the market and the impact of new and potentially disruptive technology.
- In high growth companies, where the pace of day-to-day business is so fast, it is very easy for the leadership team to lose track of what they want to achieve over the medium to long term.
These very real challenges lead senior management teams to realise they require an outside perspective to guide them in a review of their strategy – to challenge the status quo and to help them “think the unthinkable”.
Benefits of SKCI’s Business Strategy Development Service:
Working with SKCI will help you to move faster in developing and testing your strategy, as well as facilitating a successful and effective implementation.
We will facilitate challenging your current thinking about the way your company operates, and the markets you operate in, ensuring you consider how innovation will disrupt your business.
For most companies, disruptive innovation and technology will change the way you do business over the next few years… whether you like it or not. By acknowledging this, our consultants help you decide to be a leader rather than a follower – rather than having this decision made for you!.
How does SKCI deliver Strategy Development in your company?
The strategy development phase comprises one or more structured workshop sessions, with a clear emphasis on delivering realistic and implementable plans.
SKCI consultants will use our unique 5 Step Strategy Development Process to help you ask the right questions and acquire the information you need to make informed decisions.
One of the areas we find companies often underestimate is the impact of new technology on the way their company and industry will operate. As a part of the strategy development process, you will be challenge
Questions that are typically addressed as part of the 5 Step Strategy Process include:
- What is our mission and vision? What are our medium term and long term goals?
- What makes us different from the competition?
What are our USPs (Unique Selling Points)? Why do our customers buy from us?
- Do we need to change? What happens if we stay as we are?
- Who are the stakeholders in this process (other managers, shareholders, staff, customers, etc.)
- What data do we have? And what do we need?
- How will technology disrupt our market? How can we use technology to be disruptive?
- What do we want to achieve in the coming year? What are our SMART objectives?
- What are our strategies to achieve these objectives?
How will we implement these strategies on a day to day basis? What is our operating plan?
- What specific actions are required?
- What are we going to stop doing?
- Can we achieve our goals organically or do we need to include M & A?
- How do we communicate this to our stakeholders?
- How do we ensure these changes are implemented? What review process do we need?
During the implementation phase SKCI supports your leadership team to establish and operate a clear process, tracking strategy development and taking remedial action when things are not going to plan.
ESG Strategy Development
SKCI’s experienced consultants work with your stakeholders to create a comprehensive ESG Strategy which is in alignment with your business growth goals.
Business Strategy Development
Working with SKCI will help you to move faster in developing your sustainable growth strategy, as well as facilitating a successful and effective implementation.
Many leaders of high growth companies do not understand how to develop an effective board and have difficulty in maintaining the discipline of separating the roles of shareholders, directors and management.
SKCI’s Strategy Hub is your One-Stop-Shop for all your business strategy needs. You will find SKCI’s 5 Key Questions (5KQ) of Business Strategy. Work your way through from article 5KQ 1 – 5, or dip in and out as you like. A growing library of Strategy Tools are available to download in easy to use Word and Powerpoint format.
SWOT Analysis – SKCI Business Strategy ToolBackground SWOT analysis is one of the most popular strategy tools available due to its simplicity and effectiveness. SWOT stands for Strengths, Weaknesses, Opportunities and Threats and is most often used in the early stages...
Insight Article: Strategy Series Question 2 - Where do we want to go?Continuing The 5KQ Approach In the previous article we looked at the first of the Five Key Questions (5KQ) for Strategy Development, namely ‘Where are we now?’. The second Question in the 5KQ series...
PEST Analysis – SKCI Business Strategy ToolBackground PEST Analysis is a tool used to understand the macro external factors affecting your organisation. PEST which stands for Political, Economic, Social and Technical, encompasses the main factors which impact an...