Improving strategic objectives using context analysis
The business was growing but not at the pace the owner of the business was expecting. One of the key gaps in information was a detailed understanding of how the business was positioned within the context of the marketplace. The “market intelligence” was, for the most part, inside the owner’s head. As an owner manager, he was very clear where he wanted to take his business. Unfortunately, his Management team was less clear.
The key challenge was to extract, decode, question and then articulate the owner’s intent to the rest of the business. Steven implemented a context analysis framework to append the business planning process. The components were:
Determining the vision and mission
Value Chain Analysis
A business plan that reflects the intent of the business in a format that was communicated to the business in a town hall event and used as part of ongoing performance management.
Measurable strategic objectives, developed by the Management team who were now accountable for their performance. The objectives now have an increased likely hood of being achieved as the team know their department’s capabilities and can now align them with the mission and strategy of the business.