by Viv Scott – Corporate Governance Consultant
Viv Scott is a corporate governance expert and NZARC Trustee. See Viv’s tips and comments below when it comes to Strategic Planning and Analysis.
What strategy is (and isn’t)
Strategy is the roadmap to achieving your organisation’s vision and purpose. It’s isn’t management of the organisation.
The role of the board in developing strategy
The board can assist management by identifying opportunities and threats and have better capacity to evaluate managerial decisions against performance.
|Vision and strategic goals for the whole entity||Informing the framework and the content of the strategic plan|
|Approving and monitoring of direction and purpose||Operational planning to set and execute the strategy|
|Working on the strategic implications and responsibilities of compliance, purpose, culture and holding to account||Laying down the internal roadmap to achieve the outcomes expected by the board|
|Focus on the day-to-day mechanisms that feed into the strategic plan|
The impacts of strategy and the benefits of strategic planning
Strategic action is about setting out actions to achieve particular goals and increase competitive advantage. The board has a leadership role in scanning and assessing the organisation’s external environment.
Strategic planning requires a comprehensive understanding of the organisation; its environment, the ability to identify problems, opportunities and possible consequences. It calls for creativity, innovation and concentrated effort. A board that understands the environment can add value to management operations.
Tools for the formulation and development of strategy
- Ansoff matrix grid
- BCG matrix
- Blue Ocean
- Porter’s five forces
- Value chain visualisation tool
- Strategy map
- SWOT analysis
- About PEST analysis
- PEST analysis template
The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and non-profit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals.
If you would like help with Strategic Planning and Analysis for your organisation please contact Viv at email@example.com