All rights reserved. Product Learn Pricing Sign In. Customer Stories See how Cascade aligns teams, and executes strategic goals in organizations. Strategy Execution Software Strategy isn't a thing that you do in addition to business. It is your business. Strategy Factory The Wikipedia of strategy. Keynotes, interviews, reports.
Blog Get your strategy fix with our latest articles from our blog. Courses Learn from the best and brightest at Cascade and become a strategy expert. Product Hub. Take the Cascade personality test. Share this post:. Strategy is how organizations compete. How they thrive. So, we have: Strategic planning tools Strategic management tools Strategic tracking tools Strategic planning tools The first major part of the strategic management process involves analysis and planning.
Strategic planning tools for goal setting The first step of strategic planning is setting out your high-level vision and goals. Strategic planning tools for strategy formulation Strategy formulation is where the rubber hits the road. Strategic management tools The second phase of the strategic management process is executing the strategic plan you created earlier. A culture that is open to change differs from one that is ready for it. This assessment focuses on the latter.
For instance, a period of crisis tends to create high readiness, a period of success low readiness. The tool helps in two ways. It helps set a timetable for change and set the amount of change that the group can handle.
This tool helps to identify the relationships and politics in a group. Its results shape strategy and the internal communication and marketing plans. Historically, interviews and employee surveys developed a general network map.
Today, software options exist. It collects data via online questions and uses data analytics. Regardless of the method, the keys are the questions asked of employees and the data analysis.
A change management strategy is a common and indispensable change management tool. It helps in three main ways. It guides the:. It is hard to plan for every contingency in a change effort.
There are a number of tools available for this. Change in a strategic respect is often prompted by developments in the internal and external environment of a business. After a proper plan has been prepared in order to act on these changes, 8-step Change Model can be used to actually implement it. What do you think?
Are you familiar with this explanation of strategic change management? Do your recognise the necessity of change and anticipating threats and opportunities? Can you give examples of businesses that excel at this?
Which other models for strategic change do you know? Do you have any tips or additional comments? How to cite this article: Janse, B. Strategic Change. Your rating is more than welcome or share this article via Social media! Vote count: 4. No votes so far! Be the first to rate this post.
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While SWOT analysis can be adapted for a variety of situations, it is ideally suited for growth businesses that are able to make significant changes to their strategy in order to take advantage of market opportunities.
These businesses might include startups and solopreneur operations. How does it work: Famously used for strategic planning by Google, Microsoft, and Intel, OKRs work by establishing a clearly defined goal the objective along with a handful of key results —that is, measurable checkpoints that build toward the target goal.
One strength of OKRs is that they are highly adjustable. OKRs are a good fit for established, profitable businesses that might need to make incremental adjustments to continue growing without throwing off a successful formula. How does it work: With PEST political, economic, socio-cultural, and technological analysis, strategic planning teams weigh socioeconomic factors into their business forecasting. For PEST analysis to be used effectively, it helps to have representatives on the strategic planning team with a working knowledge of the component factors.
PEST analysis is somewhat complex, due to the breadth and depth of the factors it accounts for. On one hand, this necessitates an experienced strategic planning team to effectively use PEST analysis. On the other hand, this makes PEST adaptable for changing conditions. Think of each of the factors that make up PEST as levers. When the market changes, you may have to pull one or more of those levers to adjust your planning. For example, when COVID struck, you likely had to make major adjustments to your economic and political strategic planning, while your socio-cultural and technological levers might have only needed minor tweaks.
Due to its complexity and the experience required to use PEST analysis effectively, it is best suited for larger, established businesses with sufficient resources.
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