No matter what the size or the industry of the company is an effective strategic management process relies on a cohesive and coordinated process that involves everyone in the organization. Executives at the top must commit significant time and resources to develop an effective strategy. It could take up to a year for a company to establish an overall direction.
The next step is creating an agenda of regular meetings which will examine the progress made towards the goals that were set during the strategy-planning process. This is a crucial step of the process, but companies often skip it. This is why it’s essential to hold regular meetings at least twice a month for a duration of two hours. The meetings must be attended by all of the necessary managers from the highest level to the front line employees and the agenda should concentrate on making sure that the management process for strategic planning is being implemented and that the strategies implemented are efficient.
It is crucial that someone with a background in the use of tools for strategy management such as OnStrategy facilitates the meetings. The person who facilitates the meetings can be the leader of the strategy management team and can ensure that the process is implemented correctly and that all the information needed for the meetings to be successful is collected and shared. This phase concludes with a final check to ensure that the plans of http://www.boardroomtheir.com/pros-and-cons-of-board-software-for-nonprofits all functional departments are in line with the ones established through the strategic management process. For example the finance department should prepare budgets that reflect the ones set out in the strategy management process, and IT should develop plans for infrastructure and application projects to support strategic initiatives.