We have developed an effective rapid process for delivering a value creation strategy for business. Our process involves the whole senior leadership team to ensure commitment and to set clear priorities to deliver value adding business growth.
This strategy development process works particularly well for mid sized businesses, or business divisions, of £20m to £500m turnover, with a focus on identifying strategic priorities so that decisions can be made quickly and pragmatically.
The approach is based on over thirty years of experience developing strategy, both working for a strategy consulting firm (Arthur D. Little) and working in strategic roles in businesses, in both executive and non-executive director roles. The approach incorporates many well established strategy tools, but these are used to underpin structured facilitated discussions, not as an end in themselves.
There are four elements to the approach;
Develop an objective assessment of the current position of the business
Agree on an ambitious but realistic strategic vision for the next five to ten years
Decide on the critical strategic priorities needed to achieve the vision and deliver value, allocating available resources for maximum impact
Identify the barriers to strategy implementation and agree on a detailed action plan to resolve them
The objective of this process is to develop a good strategy that all of the senior leadership team buy in to. A good enough strategy with 100% buy in is much more likely to create business value, than the perfect strategy with only 70% buy in.
This whole process typically takes no more than six to eight weeks to implement, from initial conversations through to the final output, which summarises the current position, outlines the vision and key strategic choices, and provides a detailed action plan to deliver the strategy.
This approach has been used successfully by us in the following sectors;
Energy storage technologies
Fuel cells and batteries
Precision engineered components
Pumps
Mining equipment
Aircraft engines and components
Drones and drone propellers
Medical products
Consumer electronics