What is strategy?
Strategy is "a plan of action designed to achieve a long-term or overall aim".
A strategy is a working document and a process which gives you and your business purpose and direction. It encompasses your future business aims and provides a coherent and constructive way forward.
Creating a strategy is a journey that often results in light bulb moments where goals that were not so obvious before can become very clear. It is not a prescriptive process but one which is fluid and enquiring. It is up to you how you develop the business in the future, but armed with a clearer perspective, a strategy will help you make better decisions because your direction will be more focused, you will understand the relevance of your purpose, decision-making and business which together will help you shape the business for the future.
Developing strategy requires planning, aspiration and reflection to create a practical plan of action. A good strategy will encompass the future vision and the purpose of the organisation as well as what you are aiming to achieve, what works and what doesn’t work so well.
In order to create a successful business strategy you need to focus on three key principles:
A good strategy should be reviewed and adjusted regularly. Things change, your business develops, you develop, your aims develop and your strategy needs to adjust accordingly.
A strategic plan will enable you to:
Sometimes you are so busy keeping the business going you simply don’t, or feel you can't, take the time to raise your head above the parapet to see the full picture. Reviewing your strategy makes you stop, take a step back and look to the future and is an aid to moving forward constructively with a clear vision of where you are going.
The process of developing a strategic plan encompasses:
Vision - the purpose and values of your organisation
Values - underpinning the culture of the organisation and influencing the choice of direction
Mission - the key measures of success and encapsulates its purpose, values and market
Strategy - affects the overall direction establishes the future working environment
Policies - the intentions and principles which provide a framework for how your organisation operates.
Tactics - are the processes that you employ if the way forward appears difficult
EJay Business Solutions will work with you develop a strategy for your business that is fit for purpose and for the future; provide support in implementation of your strategy; support creation of internal policies and outsourcing and project development.