Business Strategy

Business strategies are broad statements of intent showing the types of action required to achieve the organisation's strategic objectives.  These objectives are statements that translate vision and mission into concise, unambiguous, realistic and measurable outcomes that help focus strategy.
To determine successful strategies one must identify key stakeholders and key strategic issues for each of these.  Key stakeholders are organisations and people with whom an organisation interacts and on whom it is dependent for success (eg. customers, employees, shareholders, suppliers, consumers).  A key strategic issue is an item that will have a significant impact upon an organisation's prosperity and which must be addressed in a strategic plan.
Strategic intent is an ambitious and compelling assertion, with an emotional edge to it that induces emotional and intellectual energy.  A competitively unique point of view about the future that conveys a sense of discovery, destiny and direction.  It encompasses the vision, mission statement and tangible aspirations (BHAGs, catch-cries and visible motivations) that motivates and deserves personal effort and commitment by an organisation's people.  It is clear about ends, yet flexible about the means, leaving room for improvisation.  It implies sizable stretch, where current capabilities and resources will not suffice because of an intentional misfit between resources and ambitions.

The components that contribute towards the implementation of strategic intent are;
  1. Core Ideology, comprising core purpose and core values
  2. Core Competencies
  3. Tangible Aspirations
  4. Strategic Objectives
  5. Action Planning
  6. Reporting KPI's