Strategic Business Planning
Strategic planning is a management process that involves assessing your current business, deciding your strategic direction, and developing a roadmap of strategic goals. A strategic plan describes why a company exists, what it wants to accomplish, and how it plans to achieve its goals and objectives.
Our Approach to Strategy Consulting
Our approach is collaborative, involving the formation of a team with key executives from the client organization and the development of the business plan in five distinct phases.
Step 1
Baseline Assessment
We develop a strategic context by reaffirming the organization’s goal, vision, and values as a group. Internal elements (financial, operational, goods, customers, and supply chain) are weighed against external factors (market, industry, competition), opportunities, and threats by our strategy experts.
Step 2
Formulation
Our management consultants work with the team to build the strategy vision, value proposition, competitive differentiation, and strategic alternatives using a number of facilitation methods (e.g. develop a capability vs. make an acquisition). The high-level “strategic plot,” a strategic narrative that is powerful, compelling, and easy to recall, is developed during this phase.
Step 3
Specification
Our strategy consultants now construct a more detailed strategy, including objectives, a three- to five-year road map, and important metrics.
Step 4
Planning
Now, the strategy must be fleshed out with specific initiatives for strategic growth and detailed plans for each functional area. Additionally, at this phase, we develop the business case and submit budgetary demands (operational and capital).
step 5
Execution
Executing the strategic plan include allocating responsibilities for each endeavor, managing programs/projects, and managing organizational transformation. On our website, we describe our execution services in further depth.
Many company strategy initiatives spend considerable time preparing but little time executing. In the assessment phase of our management consulting process, we address this by identifying the three to five most significant issues (the “critical few”) and expediting them directly into action. This enables the development of executable action plans to support growth initiatives to occur concurrently with the rest of the business planning process. This strategy produces faster results and identifies any potential execution concerns that the organization may have.