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23/5/2022 2 Comments Strategy reviewWhen conducted well, a strategy review can deliver significant benefits to a business. In addition to the direct financial benefits of improving performance and targeting new growth opportunities, the process itself can improve alignment between employees, senior management teams and other key stakeholders, helping to drive a high performance culture and clarity on the future direction of the business. What is a strategy review?A strategy review is a structured process to identify new value creating opportunities within a business. This could be about improving the performance of an existing division, or taking advantage of a new market adjacency opportunity. Many companies undertake strategy reviews on an annual basis as part of their strategy planning process. Other businesses will undertake them on a more ad hoc basis when presented with a specific opportunity or problem within the business. A change of ownership or appointment of a new CEO can often trigger the need for a strategy review of the business as a way to clarify the key areas of opportunity and challenges within the existing portfolio. Whatever its origins, a strategy review should be a clear fact-based analysis of the business opportunity or issue. It provides an opportunity to step back from day-to-day operations to assess the strategy foundations on which a business is built. The outcome of a strategy review should be a clear set of strategy recommendations and a future roadmap for the business that charts its course and enables increased and sustained performance now and for the future. The benefits of a strategy reviewWhen conducted well, a strategy review can deliver significant benefits to a business. In addition to the direct financial benefits of improving performance and targeting new growth opportunities, the process itself can improve alignment between employees, senior management teams and other key stakeholders, helping to drive a high performance culture and clarity on the future direction of the business. Strategy
Financial
Operational
Employees
Stakeholders
Scoping a strategy reviewThe scope of a strategy review should be tailored to the specific opportunity or issue to be investigated. In setting the scope, a number of the questions outlined below are likely to be relevant: Market
Strategic positioning
Internal
Financial Analysis
Delivering a succesful strategy review
Conducting a strategy review requires the coordination of a range of analytical activities, financial modeling, stakeholder management and report development. A disciplined approach underpinned by a clear logical framework and a pragmatic analytical approach can significantly increase the success of the process.
Do you need to complete your strategy review in four weeks?
2 Comments
23/11/2022 10:48:42
Thank you for pointing out that a strategy review should be a concise, fact-based appraisal of the company's opportunity or issue. My sister runs a company. She desires effective marketing. I'll advise her to seek out business strategy consulting to assist her with her venture.
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15/12/2022 10:16:52
Thank you, Iris. Without a defined marketing strategy, she's throwing things to the wall to see what sticks. And it'll cost her time, money, and resources.
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