Strategy development is the bedrock of a thriving business; it’s about crafting a roadmap to success; it sets the direction and ensures every step you take is purposeful.
Our strategy development approach is hinged on helping partner organizations develop robust and flexible strategic pathways by facilitating their strategy sessions, where we take a careful look at the peculiarity of their various businesses and the environment in which they operate. The old practice of developing an annual strategic plan that is supposed to cater to all occurrences during the year has become outdated.
A well-crafted strategy can give your organization a competitive advantage, increase productivity, and drive growth and profitability. Our strategy development services typically involve facilitating thought-generating sessions (inspire innovation/ignite ideas), consulting with industry experts, conducting market research, and collaborating with key stakeholders within the organization to create a comprehensive plan.
Some strategy development methodologies
- Blue Ocean Strategy: This methodology focuses on creating new markets and opportunities rather than competing in existing ones. It involves identifying and tapping into unmet customer needs or creating new demand for a product or service.
- Agile Strategy: This methodology involves a continuous and iterative approach to strategy development and implementation. It emphasizes flexibility and adaptability in response to changing market conditions and customer needs.
- Growth Hacking: This methodology is focused on rapid experimentation and testing of various growth strategies, with the goal of quickly identifying the most effective ones and scaling them up. It is often used by startups and other small companies to quickly gain traction in a market.
- Design Thinking: This methodology encourages a human-centered approach to strategy development, with a focus on understanding the needs and desires of customers and stakeholders. It involves a structured process of empathizing, defining, ideating, prototyping, and testing.
- Lean Six Sigma: This methodology is focused on reducing waste, improving efficiency, and increasing quality in business processes. It uses data-driven analysis and continuous improvement techniques to identify and eliminate inefficiencies in an organization.
Key benefits of our strategy development engagement
- Clarity and focus: A clear strategy can provide direction and focus for your entire organization. It can help align the efforts of different teams and departments towards common goals and create a sense of purpose and accountability.
- Competitive advantage: Developing a unique strategy can set your organization apart from its competitors. By identifying new opportunities and developing a plan to capitalize on them, you can command a greater market share and increase profitability.
- Improved decision making: A well-crafted strategy can provide decision-makers with a framework for evaluating new opportunities and making more informed decisions. By aligning decisions with your organization’s overarching goals and objectives, leaders can ensure that every decision moves the company closer to success.
Our role in working with client partners is to develop a flexible but focused approach which puts their organizations in a better position to deal with setbacks and respond to new opportunities as they emerge.
We also help our partners to gain a clear understanding of their market and industry nuances and which strategic position will favour them. Examples of key questions we treat during our strategy development and implementation monitoring are as follows:
- What is our business and WHY are we doing this?
- What are our strategic goals & objectives and which operating model is appropriate?
- What are the potential risks?
- What governance structure should we have?
- Who are our customers?
- What are we measuring?
- What are our targets?
- What policies must be in place to support our drive?
- What processes & procedures must we excel at?
- What jobs, skills, etc are required?
- Who should we employ?
- How do we develop staff?
Strategy Implementation Monitoring
- How are we doing – what initiatives are going on well and what isn’t successful?
- How did we get to this point? What went well or what went wrong?
- How can we improve our success rates?
- What are the available options?
- What do we need to do to be successful and what can delay us from getting there?
Overall, our strategy development and implementation monitoring services facilitate the creation of a ‘roadmap to success’ – for organizations of all sizes and industries. By partnering and leveraging our deep knowledge, organizations can create a strategy that is tailored to their unique needs, and provide a clear path forward for growth and profitability.