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.
- Best Practice – Integrity Without Excuses [StrategyDriven Premium Content]
- Best Practice – advocatus diaboli – The Devil’s Advocate [StrategyDriven Premium Content]
- Best Practice – Identify the Hidden Drivers [StrategyDriven Premium Content]
- Best Practice – Identify the Hidden Drivers (Continued) [StrategyDriven Premium Content]
- Best Practice – Independent Assessors [StrategyDriven Premium Content]
- Best Practice – The Use of Models [StrategyDriven Premium Content]
- Best Practice – Multidiscipline Teams [StrategyDriven Premium Content]
- Best Practice – Diverse Models [StrategyDriven Premium Content]
- Best Practice – Validate the Extremes [StrategyDriven Premium Content]
- Best Practice – Compare Organizational Goals to Resource Assignments [StrategyDriven Premium Content]
- 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
- An Interview with Robert Morison, co-author of Analytics at Work
- An Interview with Robert Simons, author of Seven Strategy Questions
- Analysis [StrategyDriven Premium Content]
- Essentials of Strategic Management by J. David Hunger and Thomas L. Wheelen
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.
Articles in this area highlight the many print, audio, video, webcast, and seminar resources that have significantly contributed to the successful business planning and execution activities of StrategyDriven Contributors. We highlight the topics covered by each resource and why we believe the benefits will outweigh your time investment.
Please note that whenever possible, a link is provided to expedite access of the recommended materials. In some cases, the providers require registering with their site. In other instances, the product link is directed to Amazon.com where the item can be purchased. StrategyDriven does receive a nominal contribution for products purchased from Amazon.com via our link which we then applied to our operating costs.
Ideally, an organization’s mission statement would convey a singular purpose. However, mission statements often enumerated several purposes, such as creating shareholder value, contributing to the community, and offering workforce prosperity. When this occurs, organizations struggle to serve multiple masters.
Prioritizing the mission establishes the relative importance of an organization’s multiple purposes; focusing decisions and driving actions toward achievement of the organization’s primary purpose while allowing progress to be made on objectives of lesser importance. The amount of emphasis given to each purpose should make their relative importance obvious to all members of the organization. Additionally, decision-making should demonstratively reflect and reinforce the mission priorities such that a proportionate amount of managerial attention and organizational resources are applied to the achievement of each purpose.
About the Author
Nathan Ives is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.