Strategy definition

No company can survive without a strategy, formal or informal, based on an effective assessment of how best to fulfil the company's long term goals and objectives. The strategy should affirm a clear sense of direction in relation to achieving a competitive edge, optimising the portfolio and dealing with stakeholder relationships. By evaluating alternatives it should proactively define how to allocate scarce resources. It should set out how products and services can best be delivered for maximum customer satisfaction. All this is based on meeting short- and long-term financial objectives. Above all, a good strategy builds in reactions to constraints imposed by stakeholders.

Some elements of a strategy can be planned well in advance; others demand flexibility and responsiveness.

Four factors influence a strategy:

Strategies are shaped at all levels of an organisation, so coherence and effective communication are crucially important.

Voorne Partners offers in-depth experience and expertise in helping teams to define/adjust a strategy, translate a strategy into an operational plan and monitor results.