Design, Evaluate & Select Strategic Initiative
Part 3 of the Insights Corner Strategic Initiative miniseries continues our Strategic Initiative conversation; discussing a Structured, Organized process to Identify, Develop, Execute, and Operationalize the right initiatives to effect the transformational changes necessary to grow the business, while simultaneously furthering the achievement of the Business Corporate Strategy.
Now Think of Strategic Initiatives like this:
You would like to build your dream house. You have almost everything you need – money, the perfect design, builders, everything BUT NO LAND on which to build your dream house.
Apply this scenario to our Strategic Initiative Discussions
- The Corporate Goal is to Build your Dream house
- The Strategic Gap – is Not having the land on which to build your Dream house. Because according to our Strategic Gap definition. It does not matter what you do; you ABSOLUTELY, POSITIVELY cannot build a house without first having the land to build it.
- The Strategic Initiative is the task “to find and acquire the perfect land” on which to build your Dream house.
Similarly, in Business, there are Strategic Gaps, Gaps that must bridge or resolved before the Business can begin working on the activities necessary to achieve one or more of its business goals.
In Business, identifying Strategic Gaps and defining Strategic Initiatives is a Complex Process, hence the reason for this Special Insights Corner miniseries.
Design, Evaluate and Select Strategic Initiatives Topics:
- Discussed the Challenges leaders experience as they transition from the dreamlike, exciting stage of the S.I. process to the reality stage. While discussing how this transition impacted the Design, Evaluation, and Selection of Strategic Initiatives for the Business.
- Performed a Business Limitation Analysis to determine which limitations the leaders would choose to resolve and which they would accept.
- Evaluated Strategic Gaps to identify which Strategic Gaps the Business is equipped and able to bridge, and
- Evaluated Strategic Initiatives and Supported the Decision Makers in their efforts to Approve Strategic Initiatives that were best for the Business.
“This is Corporate Strategy, so it is important to recognize that there is never a straight-line between Possible Strategic Initiative and the Business Corporate Strategy. It is Littered with Complex Decisions, Capabilities & Resources restrictions.” This is Why! We created this Special miniseries for You!
Click on the video for full detail.
If you missed Part 1 and Part 2 of this miniseries, the links are included below.
Part 1: Strategic Initiative Part 1: What is Strategic Initiative?
Part 2: Strategic Initiative Part 2: Clarify Corporate Strategy & Identify Strategic Gaps
Insights Corner- Strategic Initiative miniseries roadmap.
We must mention, this special miniseries was designed to help avoid expensive strategic errors plaguing organizations. The types of errors that widens the Strategic Gap between the business and its Corporate Strategy.
We end every episode with Be Strategic! Because the series contains immense value for businesses.
The simple truth is, it is much more expensive for a business to get back on track than it is to invest the time and resources initially in identifying, developing, executing and operationalizing the right initiative for the business.