Strategic Analysis – Introduction
Strategic analysis is a critical component of the strategic planning process. An integral part of a company’s evaluation and control program, it provides managers with a comprehensive assessment of the organization’s capabilities and market factors; revealing growth opportunities and vulnerabilities. Armed with this information, managers can more effectively choose from among today’s strategic alternatives to create the greatest future reward potential.
Strategic analysis combines in-depth information from a number of internal and external sources to create a picture of the subject company’s current health and future viability. A multi-phased approach to data acquisition and analysis includes:
- Strategic Posture and Performance Analysis
- Internal Capabilities Assessment
- External Environment Assessment
- Analysis of Strategic Factors
- Strategic Alternatives and Recommended Actions
Execution of these iterative processes takes place throughout the year with a frequency dictated by the pace of both internal and external environmental change.
Focus of the Strategic Analysis Topic
Articles in this topic area are dedicated to discussing the leading practices of companies that successfully execute strategic analysis processes to support the ongoing strategic planning process. The following articles, podcasts, documents, and resources cover those topics critical to a superior strategic analysis program.
Articles
- Best Practice – Integrity Without Excuses by StrategyDriven Contributors
- Best Practice – advocatus diaboli – The Devil’s Advocate by StrategyDriven Contributors
- Best Practice – Identify the Hidden Drivers by StrategyDriven Contributors
- Best Practice – Identify the Hidden Drivers (Continued) by StrategyDriven Contributors
- Best Practice – Independent Assessors by StrategyDriven Contributors
- Best Practice – The Use of Models by StrategyDriven Contributors
- Best Practice – Multidiscipline Teams by StrategyDriven Contributors
- Best Practice – Diverse Models by StrategyDriven Contributors
- Best Practice – Validate the Extremes by StrategyDriven Contributors
- Best Practice – Compare Organizational Goals to Resource Assignments by StrategyDriven Contributors
StrategyDriven Podcasts
StrategyDriven Podcast
- Introduction to Strategic Analysis
- Identify the Hidden Drivers, part 1 of 3
- Identify the Hidden Drivers, part 2 of 3
- Identify the Hidden Drivers, part 3 of 3
- Independent Assessors
- The Use of Models
- Multidiscipline Teams
- Diverse Models
- Validate the Extremes
StrategyDriven Podcast – Special Edition
Documents
Whitepapers
Resources
Books
- Essentials of Strategic Management by J. David Hunger and Thomas L. Wheelen
Sign up for our Email NewsletterStrategyDriven Podcast Episode 13 – Introduction to Strategic Analysis
StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.
Episode 13 – Introduction to Strategic Analysis serves as a foundation for the upcoming series of podcasts focused on the best practices associated with strategic analysis. This discussion:
- defines what a strategic analysis is
- describes the components of this in-depth examination of the organization and its business environment
- identifies how strategic analysis helps an organization become more strategy driven
Final Request…
The strength in our community grows with the additional insights brought by our expanding member base. Please consider voting for us on Podcast Alley by clicking here. Casting your vote for the StrategyDriven Podcast improves our ranking and helps us attract new listeners which, in turn, helps us grow our community.
Thank you again for listening to the StrategyDriven Podcast !
Podcast: Play in new window | Download (17.5MB)
Strategic Analysis Best Practice 1 – Integrity Without Excuses
For any strategic analysis to be effective, it must be done with an open, honest assessment of the facts. Organizations acting with integrity without excuses seek to identify and eliminate instances where fact-based assessment conclusions are diluted by unrelated factors or opinion-based influences. This mitigation often seeks to justify action perceived as desirable when the fact-based evidence would suggest another course. Justification is frequently based on business factors that are not specifically value related or biases lacking a relevant performance basis.
Strategic Analysis Best Practice 2 – advocatus diaboli, The Devil’s Advocate
Shared experience, organizational pride, and/or conflict avoidance can diminish the criticality of data and conclusion assessment; leading to exaggerated optimism and resulting in an organizational pursuit of unrealistic goals. Inflated expectations may drive investment in projects well outside of the organization’s risk tolerance. In today’s aggressive marketplace and under intense shareholder scrutiny, missteps like these can be disastrous for a company and its executive team.
Employing a Devil’s Advocate throughout the assessment and decision-making processes helps prevent the unintended consequences of group-think. As a contrarian, the Devil’s Advocate deliberately assumes a position opposed to the consensus viewpoint. He or she actively seeks opportunities to discredit supporting information and challenge seemingly logical conclusions. By attacking the group’s position, the Devil’s Advocate demands a rigorous defense be presented by the evaluating group; ultimately strengthening the final decision.
StrategyDriven Podcast Episode 14 – The Devil’s Advocate
StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.
Episode 14 – The Devil’s Advocate elaborates on Strategic Analysis Best Practice 2 – advocatus diaboli, The Devil’s Advocate. This discussion:
- defines what a Devil’s Advocate is
- explains how the contrarian helps prevent group think
- describes the critical qualities, responsibilities, and actions of the Devil’s Advocate
Final Request…
The strength in our community grows with the additional insights brought by our expanding member base. Please consider voting for us on Podcast Alley by clicking here. Casting your vote for the StrategyDriven Podcast improves our ranking and helps us attract new listeners which, in turn, helps us grow our community.
Thank you again for listening to the StrategyDriven Podcast !
Podcast: Play in new window | Download (24.7MB)
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