A strategy is a broad plan of action to achieve a specific goal.
The purpose of your strategy should be to support the organisation in fulfilling its mission; and the purpose of your mission should be to support the organisation in fulfilling its vision.
You stay on track with your strategy by formulating tactics. You stay on track with your tactics by establishing goals.
These five elements of managing an organisation are summarized in following table. (Click table to enlarge)
The vision and mission of the organisation should be enduring: nevertheless, to be on the safe side, you should review them every few years to make sure they are still valid, especially if there are significant changes in the leadership team.
The strategy should be reviewed annually or more frequently if significant market changes or adjustments in the working environment take place. The tactics should be reviewed quarterly, and adapted if necessary to fit in with the organisation’s needs. Progress in achieving goals should be monitored monthly.
Some of the organisations that are working with the Cultural Transformation Tools® (CTT) use the six elements of the Business Needs Scorecard (BNS) to develop a comprehensive, balanced strategy for business growth.
They then use the results of the cultural values assessments to not only monitor their culture, but also get feedback about the extent to which the values of the organisation are supporting or hindering each element of the strategy.
The chief advantage of this method is that it forces you to think in terms of addressing the needs of all stakeholders and the all the critical elements of organisational performance.
The six categories of the BNS scorecard are shown in following table.(Click table to enlarge)
Chapter 19: Organisational Mastery