Category Archives: Strategy

Stakeholder Audit: Critical to Strategy

Stakeholder audits are a critical component of an ongoing strategy development process. Your organization can profit from stakeholder audits in other ways as well. Stakeholder audits are an imperative component of an issues management program, they are part and parcel of good governance, and they are key to collaboration.

Stakeholder analysis should be undertaken as part of your environmental scanning activity. In addition, such analysis can play an important role in strategy execution, as you seek to align stakeholders with your strategy.

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Strategic Thinking Defined

Strategic thinking is often identified as one of the most valuable executive / management skills. Governance literature often cites the importance of having a strategic thinking board. But, what does “strategic thinking” mean?

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Strategy Development – Who is Responsible : CEO, Board or Receptionist?

The best strategy in the world isn’t a good strategy unless it can be communicated and executed. Although the CEO is responsible for leading the strategy development process, and the Board has ultimate fiduciary responsibility for determining strategic direction, an organization is missing an opportunity if it doesn’t engage the entire staff in the development of strategy.

Engaging the receptionist in the process is laying the seeds for strategy communication and strategy execution. But, this involvement does so much more by:

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A Simple Formula for Good Strategy: DP + 2(PI) = GS Part 3 – Problem Investigation

The genesis of all good strategy is applying diverse perspective to properly defining and systematically investigating the problem. All three components overlap and must be used; using any one or two components will result in incomplete strategy, the wrong strategy or no strategy at all.

This article focuses on the Problem Investigation. Click here to see the article on Diverse Perspective and here to see the article on problem Identification.

Problem Investigation

Problem investigation, or analysis as it is often referred to, is a detailed inquiry or systematic investigation of the problem from which good strategy flows. Similar to problem identification, problem investigation requires a blend of creative and critical thought, and is enhanced by engaging an optimally diverse group in the process.

There is no clear line between problem identification and analysis; in fact, there is overlap between the two. As such, one’s engagement in a comprehensive identification process will have already generated a wealth of information that can be fed into the investigation component of strategy development.

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