Musings on strategyDR PETER R CROW CMINSTD | ICSA ANNUAL CONFERENCE 2017

What isstrategy?

Anchoringstrategy

Strategyformulation

Strategic priorities

Imperative actions

Annual plan

Core purpose

External context

Measures

Traps to be avoided…A strong focus on planning (tasks)

Cost-based thinking

A short horizon

‘Emergent’ strategy

A long and detailed document

Characteristics of good strategyClarity of purpose, realistic goals

Built on a thorough understanding of current reality

Linkages between elements are self-evident

Deeply understood across entire organisation

Flexible, to adapt to changing circumstances

• Identify options

• Creative task

Strategic thinking

• Select options

• More analytical

Strategic planning

The board’s role in strategy?

Board & management jointly develop strategy

Board sets parameters, management develops strategy, board approves

Management develops strategy, board approves

Board develops strategy, with management assistance

Board develops strategy

Where do you aim to be?

Linking strategyand execution

• Identify options

• Creative taskStrategic thinking

• Select options

• More analyticalStrategic planning

• Perform tasks

• Monitor & verifyStrategy

implementation

Monitoring and verifying Monitor strategy, not budget or tasks!

Align reporting with strategic priorities

Seek multiple perspectives, not just management

Review an element of strategy at every board meeting

Crucial questions for boardAre we doing the right things?

Is strategy being actioned as planned?

Are we getting the benefits?

Are we making good decisions?

Summing up

The secret of change is to focus all of your energy,not on fighting the old, but on building the new.”

– Socrates

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Questions?©2017 DR PETER R CROW | WWW.PETERCROW.COM