What is Strategy Management?

What is Strategy Management?

In order to be successful and deliver results, organisations need a good plan that is clearly understood by everyone employee so they know what to do to turn the plan into reality. Strategy Management helps organisations define and deliver their plans.

The Strategy Execution Problem

The problem is that 90% of companies, even the ones that have a well thought out plan, fail to execute their strategy. Only 10% of companies manage to turn their strategy into actual results. This is where strategy management comes in, it gives companies tools and techniques that ensures a successful strategy definition and execution.

The Strategy Communication Problem

One of the main reasons why organisations fail to execute their strategy is because no-one really understands the plan, the objectives and the priorities. Most companies and government organisations produce complex and lengthy strategy documents that nobody ever reads or understands. The majority of strategies are too long, too woolly, not agile and often resemble a random mix of objectives, action plans and measures.

The latest strategy management tools make it easy for organisations to clarify and communicate strategic objectives and priorities to ensure the strategy is understood and delivered by everyone in the organisation. Tools like strategy maps enable organisations to create a coherent plan and visualise it in a single and easy to understand one-page picture. Once a good plan is in place there are other strategy management tools to align the activities in an organization (projects, programmes and initiatives) with the strategy and performance management tools to manage, monitor and measure the strategy execution.

The right strategy management and performance management processes are often the key differentiators between top performing organisations and those that would like to become one.

To learn more about strategy management read our booksarticles and case studies or get in touch if you would like to discuss our strategy management consulting or training services.