STEP 1: BRAINSTORM
We believe the first step in developing any good corporate strategy is for a company to understand its own strategic objectives.
To support this process, we offer facilitated workshops for senior executives and next-generation company leaders. Our experience has shown these workshops to be an effective means to drive employee ownership and engagement, while ensuring strategy remains a business-led concept (and not an idea formulated from an ivory tower).
HOW DO THEY WORK?
Strategy workshops can be as short as half a day or run over multiple days, depending on the specific needs and requirements of each client. They are typically structured in a way that allows a company to answer its 3 most important strategic questions:
1. Where are we now?
A critical first step before developing any strategic objectives should be for a company to truly understand its status quo. This would usually involve:
- Reviewing the current business and financial performance (i.e. a business health check)
- Determining key performance and capability gaps vs. competitors (e.g. revenues, headcount, country footprint, sales coverage model) by country, product and client segment
- Evaluating the status/effectiveness of the company’s current strategic and operational initiatives to determine what is working and areas for improvement
- Establishing quick-win tactical priorities (i.e. the ‘low-hanging fruit’)
2. Where do we want to be?
Once a company better understands its current positioning, it can develop a vision of where it wants to be and start formulating a strategy, which will involve:
- Understanding the future macro and/or regulatory landscape and key industry trends (both cyclical and structural) to identify longer-term opportunities and challenges
- Agreeing on the gaps the company is willing and able to close to determine a target position
- Formulating an overall vision for the organisation
- Identifying strategic initiatives to close gaps
3. How do we get there?
After a company’s strategy has been formulated and its strategic initiatives identified, it is critical for the organisation to effectively execute and track its objectives. This will involve:
- Determining the key enablers required to deliver on its target vision (e.g. additional headcount, technology spend, licenses, risk appetite)
- Developing detailed workstreams for strategic initiatives (i.e. establishing key deliverables, delivery timelines and project sponsors)
- Establishing mechanisms for tracking delivery and enforcing accountability (e.g. appointing initiative leads, conducting interim strategy reviews)
WHAT DO WE DO?
To ensure strategy workshops run smoothly and deliver maximum value, we involve ourselves from start to finish in the process: