How to Uncover Strategic Challenges and Opportunities
Dec08

How to Uncover Strategic Challenges and Opportunities

A successful organization starts out with the main question “What do we want to achieve?” and then “What do we want to provide?” Creating strategy is driven by a business’ vision, mission, and goals, along with its key competencies, and the competitive industry with which it has to contend. To uncover strategic challenges and opportunities, you need to learn the dynamics of an organization. The best way to do this is by answering strategic questions. What are the key capabilities and resources required to execute and achieve the strategic goals? Reviews of organizational resources, both human and financial, are used to prioritize which organizational goals and objectives will be targeted. Strategies are then developed to target those goals and objectives. Linking strategies to goals and objectives ensures the organization does not engage in activity traps: feel good activities that will not lead to desired changes. Once a strategy is defined then performance measurements and indicators are put in place to track progress and impact of the changes all through the change life-cycles. What are the key things the organization must do to execute the business strategy? Situation – Evaluate the current situation and how it came about. Vision – Define goals and objectives for long-term and short-term visions. Roadmap – Map out possible routes to achieve those goals and objectives. Design – Draw out the desired target architecture. Gap Analyse – Analyse the current situation – Base Architecture – and make gap analyses. Planning – What specific actions must be taken to close the gap between the current and the desired situation? Execution – What resources are required to execute those activities? What are the most valuable outcomes of the organization? There are four main business outcomes we need to consider, one often connected with another. Financial: generated revenue, sales, profit Reputation / Brand Equity: likelihood of purchase, minimum effect of a crisis, established credibility of products Employees / Internal Publics: Employee satisfaction and engagement, low legal costs, transparency, high commitment, good communication Public Policy: public awareness Before we can measure the value of those outcomes, we need to answer four questions: Whom is the organisation seeking to affect? What about them is the organization seeking to affect? How much must they be affected to be successful? By when does this effect need to occur? What are the major forces driving changes in the organization? Are those forces enabling the organization to achieve the strategic goals, instead of individual or departmental goals? To find out what the forces are which drive changes within the organization, you should look into the following factors: Globalization: The increase in overseas production of...

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