The Strategy Category
The Strategy Category focuses on the development and implementation of strategic plans based on the organisation’s external environment and internal capabilities. The plans should address current and future challenges as well as the organisation’s mission and vision.
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Excellence Indicators – Strategy Category |
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+ The strategy is systematically developed based on the external environment (e.g. customer feedback, market intelligence, industry trends), internal capabilities (e.g. data on operational performance, quality indicators) and with inputs from stakeholders
+ The long- and short-term goals and plans are comprehensive, quantifiable and forward-looking
+ The strategy development process produces an overall business plan, and goes beyond a financial or budget plan. The process is robust and responsive to changing needs
+ The strategy implementation process involves cascading plans to all levels, and translating corporate goals into department and individual goals. Relevant and well-defined indicators are identified to track the achievement of the plans and goals
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Assessment Questions – Strategy Category
STRATEGY
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1 Strategy Development |
Interpretation Notes |
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How the organisation develops a strategy and determines strategic goals
Describe how the organisation:
a. Determines organisational challenges and anticipates external changes and risks
b. Develops strategic goals, and long- and short-term strategies to address the vision and mission
c. Engages key stakeholders in the strategy development process
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N1. The strategy development process may involve the use of various types of forecasts, projections, options, scenarios, knowledge or other approaches to envision the future
N2. External changes and risks may include changes in regulatory policies and demographics
N3. The organisation’s strategy may include new business models, products, services and markets, and the organisation’s plan for revenue growth resulting from various approaches, including acquisitions, new partnerships and employee relationships |
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2 Strategy Implementation |
Interpretation Notes |
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How strategies are translated into long- and short-term action plans
Describe how the organisation:
a. Develops and implements long- and short-term action plans
b. Allocates resources in a timely manner to achieve strategic goals
c. Engages key stakeholders in the strategy implementation process
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N1. Action plans may include annual plans, operational plans, human resource plans and marketing plans, amongst others
N2. The action plans should address how financial and other associated risks are managed
N3. The action plans should also include resource commitments, key performance measures or indicators, and time horizons for achieving them |