Strategic Management

How to strategies developed

How to strategies developed

Strategy formulation is a combination of rational, scientific examinations and educated, intuitive best guesses. Many individuals are overwhelmed by the idea of developing strategies, but it can be a fun and invigorating process.

The process entails: examining the organization’s critical issues determining how the organization’s strengths and skills can be employed to address the critical issues analyzing opportunities and strengths and looking for ways to synthesize the two exploring and choosing the best approaches for the organization.  During this evaluation ask these key questions: Does the strategy meet/address critical issues? Is this aligned with our mission? Is this approach financially viable?  One effective method of strategy generation is to list critical issues and organizational strengths onto flipcharts and then have staff or board members brainstorm possible uses of those strengths or other skills to address the critical issues.

Once the brainstorm session is completed, use a roundtable discussion to investigate and evaluate the possible strategies.  Remember to develop a list of alternative strategies to investigate and keep in the contingency planning file.  It is important not to discount the ideas that come to people during non-working hours.

To be successful means knowing how to use your talent and resources to best advantage, and it’s very difficult to “win” if you don’t have this game plan in place.

How are strategies developed