My strategy consulting services can help you develop and implement successful strategies on corporate, business unit and product level. As an external consultant I ensure a systematic process that leads to a clearly defined strategy as a basis for effective implementation and durable competitiveness.
My services are based on the conviction that a strategy should focus on the triple bottom line of planet, people and profit to be sustainable. In other words: a strategy should take into account ecological and social aspects together with economic aspects to achieve sustainable results for the company and its stakeholders.
The development of a new strategy typically involves five stages:
- Taking stock of the current strategic situation and past developments
- Analysis of internal and external factors influencing the company
- Development of a vision for the next 5 to 10 years
- Development of strategic options and selection of a strategic direction
- Breakdown of the strategic direction into strategic objectives
Renewal of corporate strategy
Even if your company already has a fully developed corporate strategy, it could make sense to go through the strategy development process again, in one of the following cases:
- The competitive environment has dramatically changed
- Technological developments threaten to make your product obsolete
- The internal stakeholder situation of the company has changed
- Your company aims to develop an integrated sustainable strategy built on the triple bottom line, which merges classical finance-driven goals with societal and ecological goals
In addition, there may be a need to develop specific strategies under the roof of the corporate strategy, for example:
- A sustainability strategy as a first step towards an integrated strategy (see above)
- An innovation strategy
- A growth strategy for specific markets
Depending on the scope and complexity of the envisaged strategy, the development process typically requires 1-2 strategy workshops. As a trained facilitator I am available to orchestrate the whole strategy development process and document the results so that your leadership team can focus on discussing the strategic options.
The success of your strategy depends on the effective communication about it with your stakeholders in the strategy development phase and implementation phase. Especially for employees and shareholders, the process should be transparent and dialogue-based. The communication with internal stakeholders about your strategy will be different from your communication with external stakeholders, like customers and suppliers. This requires a well-thought-out approach, in order to get the stakeholder buy-in you need.
Based on over two decades of international experience in stakeholder communication, I can help you develop and implement an effective approach for communicating about your strategy with your internal and external stakeholders.
In order to reach your strategic goals, you need a systematic approach for translating your strategy into operational objectives and key performance indicators on the work level. There are four basic frameworks for strategy implementation that have proven to be effective:
Hoshin Kanri (also known as Policy Deployment) – a strategic planning and implementation system developed in Japan, which ensures a clear logical flow and systematic review from vision to strategic objectives and operational activities.
Balanced Scorecard – a strategy performance management approach for steering and monitoring the financial and non-financial aspects of operational activities derived from strategic objectives.
Objectives, Goals, Strategies and Measures (OGSM) – is a goal setting and action plan framework for defining and tracking measurable objectives and actions to achieve strategic goals.
Objectives and Key Results (OKRs) – is a goal-setting framework for defining measurable goals and tracking their outcomes, which has been developed and successfully implemented at Intel and has later been adopted at Google.
These four frameworks have a number of similarities but also fundamental differences. Which framework is most suitable for your company depends on the existing operational procedures, the company culture, and the type of strategic goals you are pursuing. I can help you select the most suitable framework for your company and set it up within your organization.
The fast-changing pace of global markets and technology has led to a dynamic business environment, which makes it necessary to regularly review your strategy. Depending on the strategy implementation framework you have chosen, there are reviews of progress towards achieving your strategic objectives already built in. However, some disruptive developments could make it necessary to review the strategy earlier than you had planned. Even if this does not happen, it is advisable to review your strategy every year, even if you have a 5-10 year vision. Your strategy should remain flexible for adaptation while staying on course towards your long-term vision.
Your corporate strategy is the key to the long-term success of your company. Neglecting your strategy could be risky.
Are you ready to work on your strategy? Then I invite you to book a free orientation session with me at no obligation. Let us talk and find out, how I could support your strategy process.