Mortgage Refinance  What is a Strategic Review?

A Strategic Review is a method of checking the relevance of a strategy or series of strategies with a specific scenario. As new information becomes available and as new opportunities are identified current strategy may need to be modified. A strategy that was planned some time ago may no longer be the optimum strategy as new situations unfold. Sometimes the changes in the environment have been created by the implementation of the original strategy as competitors, regulators and consumers react.

Juegos Why carry out a Strategic Review?

All strategies need to be flexible enough to both react to changes in the environment and to take advantage of new opportunities. There may be changes in legislation, technology, reaction of competitors or public sentiment which necessitate a new strategy. There are numerous examples of large corporations who continued to follow old strategies despite the entry of new competitors, new technology or new consumer interests; the results have normally been catastrophic for the corporation and its leaders.

home selling Each sub-objective will have its own set of metrics and timetable for completion.

– The ‘catchball ‘ process is the next stage wherein information-sharing occurs among the parties involved. The purpose of this exchange is to build a consensus among everyone to arrive at the best approach.

How to carry out a Strategic Review

Some organisations carry out such formal strategic reviews that they look like a courtroom with a prosecution and a defence. Others use techniques such as Edward de Bono’s Six Thinking Hats scenario analysis. To a large extent the methodology will depend on the complexity of the strategy and its relative importance to the organisation. If the success or failure of the strategy will determine the future and possible survival of the organisation a really rigorous and independent review will be required.

Whatever review process is chosen it should be formal and all participants should be fully aware of the potential outcomes including he suggested strategy being rejected.

Decisions should be issued in writing and circulated to all participants. If corrective actions are identified those responsible for the actions should be specified and timescales defined.

And one last tip: the executive summary should be the last thing you write. It may sound like a paradox, since the executive summary’s place is at the very beginning of the business plan, but this is the best practice: write it after all your ideas are clear, in place and have a proper structure You can be published without charge. You can to republish this article in your website or blog. Please provide links Active.