Five Managerial Phases Of Crafting A Company's Strategy

Discuss the five managerial phases of crafting a company's strategy and who in the organization should participate.

Developing a strategic vision

Is necessary to establish a strategic vision to determine where the organization, where we want to be, all in order to have clarity and provide long-term direction is directed and for this, you must answer the question: What kind of company I tried to convert my company?

Setting Objectives

This phase is responsible for putting numbers to the strategic vision of the company, ie, make the vision clear and measurable performance outcomes that should be achieved in a given time and medium-term milestones.

Crafting a strategy

This phase must seek the way to move the company along the course that management has charted.

The entrepreneur should always be defining and updating objectives is an ongoing task, because the company must always be supplied to new customers (or former customers but with new orders).

Implementing and executing the strategy

Impact in achieving the objectives and targets set in the previous phase, with this "alignment" to the goals of the company all that is planned and done is oriented to meet objectives, show measurable progress and performance goals.

Evaluating performance and making corrective adjustments

Performance evaluation and monitoring of the progress of the organization aim to decide whether the activities, projects or plans are going well within the company and closely monitor the external effects or results. A lower performance require corrective actions and adjustments in the direction of the business, established strategies or projects to be supported.

How in the organization should participate?

All the organization must participate. Some participate with more importance or more deeply than others. For example, CEO leads the strategy-making and strategy-executing process, Senior executives exercise influential strategy-making roles and managers and key employees make clear their subordinates the customer requirements and expectations into the strategy-making process. And finally, all employees following the company’s strategy are also participating in the totalization of it.

...