Strategic review should not be a mechanistic process. One of the most successful approaches I have seen is to get a few key members of the top-management team out of the office for two or three days of informal but intensive review of the strategic options as set forth in the plan. Superb leadership by the CEO is required to keep the discussion centered on the critical problems and opportunities, keep it on an objective plane so that no one feels threatened, and come out with a set of actionable decisions as the end product. Given such leadership and adequate advance preparation by the participants, valuable results can be achieved.
Strategy review, of course, is not entirely a free-form creative process; it can be supported by an analytical framework. For example, one CEO has his staff subject the plans submitted by division managers to a set of validity tests designed to identify and evaluate the key assumptions underlying performance forecasts in the plan. This top-down testing process ensures that issues and decisions that the division managers have failed to identify will be brought to the surface for top-management consideration.
Strategic review should not be a mechanistic process. One of the most successful approaches I have seen is to get a few key members of the top-management team out of the office for two or three days of informal but intensive review of the strategic options as set forth in the plan. Superb leadership by the CEO is required to keep the discussion centered on the critical problems and opportunities, keep it on an objective plane so that no one feels threatened, and come out with a set of actionable decisions as the end product. Given such leadership and adequate advance preparation by the participants, valuable results can be achieved.
Strategy review, of course, is not entirely a free-form creative process; it can be supported by an analytical framework. For example, one CEO has his staff subject the plans submitted by division managers to a set of validity tests designed to identify and evaluate the key assumptions underlying performance forecasts in the plan. This top-down testing process ensures that issues and decisions that the division managers have failed to identify will be brought to the surface for top-management consideration.
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