StrategyDriven Strategic Anaysis Best Practice Article

Strategic Analysis Best Practice 3 – Identify the Hidden Drivers

StrategyDriven Strategic Analysis Best PracticeOrganizational alignment to common goals suggests executive, manager, and employee motivation is largely driven by its strategic plan. However, there are likely some additional, hidden performance drivers unintentionally created by the organization's processes or embedded as an integral component of the organizations' history and culture.

 
 
 
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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.


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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. Hi there! This article is available for free. Login or register as a StrategyDriven Personal Business Advisor Self-Guided Client by: Subscribing to the Self Guided Program - It's Free!

StrategyDriven Strategic Analysis Forum

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 Forum

Materials in this forum 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 Practices

StrategyDriven Podcasts

StrategyDriven Podcast

StrategyDriven Podcast – Special Edition

Documents

Whitepapers

  • Analysis    [StrategyDriven Premium Content]

Resources

Books

Recommended Resource – Essentials of Strategic Management

Essentials of Strategic Management (4th Edition)
by J. David Hunger and Thomas L. Wheelen

About the Reference

The Essentials of Strategic Management (4th Edition) by J. David Hunger and Thomas L. Wheelen focuses on the founding principles and methods employed in both strategic planning and execution. Topics include strategy formulation, implementation, and control.

Benefits of Using this Reference

StrategyDriven contributors like this reference because its presentation is concise and direct while at the same time providing the detail needed to give the reader a fundamental understanding of strategic planning and execution. This book provides a full array of easy to follow tools and instructions that are ready for use by organizations of any size.