Table of Contents
Strategy
Definition
(Noun) Represents the force that drives the organization in a particular direction. The more rigorous and informed the strategy, the greater the driving force and direction is to achieve the Mission, Vision, and goal/s of the organization.
The Strategy for an organization is developed by following a structured process that involves analyzing the current state of the organization, setting a clear vision for the future, and determining the best path to achieve that vision.
The MBB Framework of Countinual Strategic Improvement (f_CSI) describes the process of Strategic Management.
Strategic Planning, a verb, is the work of creating and refining the strategy which typically results in a Strategic Plan (noun), the documentation used to communicate the strategy.
Strategic Management is synonymous with the Strategic Planning Cycle, divided into two phases: 1) the Planning Phase and 2) the Execution and Monitoring Phase.
The strategy for an organization should be developed and maintained by a Cross Functional Team of Subject Matter Experts that collectively are aware of all issues facing the organization. It should involve an experienced facilitator familiar with the methods and practices of strategic planning.
Without a strategy, an organization is like a ship without power or a rudder, adrift without direction, vulnerable to external forces, and unable to effectively allocate resources or achieve its goals.