Strategic Management

Strategic Management Cycle

While strategic planning typically focuses on setting the direction, strategic management goes further to cover execution, monitoring and review

Note: In some cases, at some element of, Direction Setting may precede Situation Assessment.

► ILMAM can assist you throughout the strategic management cycle


Situation Assessment

Situation Assessment

  • Effective strategy development requires a solid understanding of the internal and external environment
  • Strategy-related organizational assessments vary in nature and scope depending on the circumstances involved. Below are examples of such assessments: 

Organizational Assessment

Organizational Health Check

Planning Readiness Assessment

What

Assessing the strengths and weaknesses of the organization

Identifying key organizational issues and gaps

Assessing the level of planning readiness

When

Part of an existing or new strategic planning process/management framework

In cases where a robust strategic planning process/management framework is not yet in place

Organizations considering applying a strategic planning process/management framework

Why

To inform the strategy development and establish a baseline for future improvement

To help identify key issues hindering organizational performance and define a baseline for further improvement

To gauge the level of planning readiness

► ILMAM can assist you by facilitating an organizational assessment with the aim of identifying key existing, or potential, gaps


Direction Setting

Direction Setting

  • Direction setting establishes the key long-term strategic drivers for the business
  • In a diversified company, it typically entails:
    • Corporate vision, mission and values
    • Current/potential portfolio attractiveness and synergies
    • Corporate strategic objectives
    • Viable strategic options: strategy, governance, portfolio selection, etc.
  • In a standalone business or a business unit, it typically entails:
    • Business vision, mission and values
    • Internal and external environment
    • Business strategic objectives
    • Viable strategic options: focus, positioning, etc.
  • The corporate and business vision, mission and values may be initially set before, and reconfirmed after, the Situation Analysis is conducted.

► ILMAM can assist you in setting (or validating) the overall strategic direction at a corporate and standalone business/business unit(s) level


Strategy Development

Strategy Development

  • As highlighted below, the focus of strategy development activities defer between a diversified company and a standalone business/business unit

Core

Services

Supplementary

Services

Corporate Level Strategy

Business Level Strategy

Business Model Review

Business Process Review

What

•Deciding which business(es) to be in

•Determining how to compete in the marketplace

•Defining how business is done

•Considering how to improve

When

•A diversified company or one considering diversification

•A standalone business or business unit(s) of a diversified company

•Reviewing an existing or new business

•Looking to improve key business process(es)

Why

• Portfolio management
•Maximizing synergies
•Strategy alignment

•Formulate business strategy
•Establish Business targets
• Identify key strategic initiatives

•Assess the viability of a proposed business strategy

•Identify recommended Key Business Process improvements

► ILMAM can assist you in setting (or validating) the business-level strategy of your standalone business or business unit(s) in alignment with the corporate-level strategy/strategic drivers


Strategy Implementation

Strategy Implementation

  • Strategy implementation is typically owned by the organization
  • Successful execution can be aided by:
    • Robust initiative planning, including inter-dependencies
    • Clear ownership of initiatives and milestones
    • Effective resource allocation
    • Clear monitoring and review metrics
    • Strategies and metrics that are well aligned and cascaded

► ILMAM can assist you with guidance on implementation enablers


Monitoring and Review

Monitoring and Review

  • Effective strategic management is focused on results
  • Monitoring of strategy execution can ensure that:
    • Adopted strategy is implemented in accordance with plan
    • Obstacles to execution are addressed promptly
    • Performance against the adopted plan is measured
    • Alignment of the strategy is maintained
  • Review of executed strategy:
    • Assess the effectiveness of the adopted strategy
    • Consider key changes in the assumptions underlining the adopted strategy
    • Identify potential modifications to the adopted strategy, where required

► ILMAM can assist you by providing guidance on the effective monitoring and review of adopted strategy