There is no one answer to this question. The level and scope of the initial program should reflect the best use of management capabilities, and equally important, leadership preferences on how to initiate strategic management activities—regardless of the ultimate level and scope of the strategic management process aspired to and eventually realized. Organizations, even those performing the same functions and the same size, vary greatly with respect to organization structures, management authority and responsibilities, degree of specialization, style of managing and so forth.
No one can predict with any certainty what will occur over the next few years. The transformation taking place in the global and domestic economy is unprecedented and it will take some time for new economic patterns to sort themselves out. Regardless, history tells us that there will be winners and losers in every industry.
A key result area (KRA) is an strategic factor either internal to the organization or external, where strong positive results must be realized for the organization to achieve its strategic goal(s), and therefore, move toward realizing the organization’s longer term vision of success. Key result areas are sometimes referred to “critical success factors” or “key drivers of success.”
To create an effective strategic plan and management system is a major challenge for any organization. To do so without the necessary preparatory steps will, in all probability, result in wasted time, energy, misdirected efforts and can even lead to the resulting plan failing. Having a clear understanding of where your organization’s journey begins is vitally important and too often a missed step in many strategic planning processes.
- strategic plan
- strategic planning processes
- strategic planning and management
- strategic planning and management system
- SWOT Analysis
- core values
- high level goal statement
- strategy map
- cause and effect
- key performance indicators
- cross functional initiatives
- strategy management calendar