The Six Step Process

It is important that all participants in the process have a clear view as to what is the current strategy of the business. It is difficult to formulate a logical strategy for the future unless the management team is explicit about their current strategic direction.

Systematically examine the most significant variables in the business environment A rational approach to defining strategy requires a qualitative input of data concerning the key areas that will have the most influence on the business. A detailed input survey is produced for this purpose.
The key to this step in the process is to understand which factors are causing most influence over your business today and whether that will change into the future. Understanding the relative importance of these factors helps to plan the allocation of resource and focus the pursuit of particular opportunities. Understanding the single most influential factor determines the Strategic Heartbeat and the strategic direction of the business.
Resources are always finite. Management needs to choose between different opportunities and between allocating different levels of resource to different parts of the business. This process provides a specific filter for resource allocation when choosing between product and market opportunities.
The future strategy must be validated to make sure that it focuses on the organization's strengths and maximizes its opportunities. Then a plan must be produced to link the strategy to the operational functions of the business. This is how the strategy will be delivered.
Allocate ownership to the strategic issues and set up a monitoring and review process that will ensure the business achieves its strategic objectives.

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