Strategic Review

Strategic Review

This post is to assist you in doing a Strategic Review. There are more alternative ways to do a review, however, this process has proven to be useful both when studying as well as in relation to several real-life business situations.


To determine future strategy in an organisation, you need to:

  1. Do a Strategic Review
  2. Choose Strategic Direction
  3. Validate the appropriateness

To do a Strategic Review, you need to determine the organisations Vision and Mission and the Stakeholders, revisit and analyse the historic and present situation in the External and Internal environment, evaluate Risk, determine the KSF and CSF and summon up your findings in a SWOT.

Building a strategy can be a long process and, depending of the organisation, involve a number of internal and external stakeholders. Remember, that the purpose af strategy review is to determine the need for change or adjustment in the organisation.

Background information
Have a short look at Ten Key Elements of Strategy (Thompson & Martin, 2005), to relate to the extent of elements of strategic change management.

To do a strategic review, you first choose the process of which areas to analyse. There are several suggestions on this area, but my all time favorite is based on the Henley Business School Strategic Process.

Below you can find recommendation of a generic process , containing Models and Framework to assess the present situation, make a summary and your recommendations.

Consider if Models and Framework used in the generic process, are relevant to your organisation or firm. Alternative or complementing assessment tools can be found under the category menu on this site.


Strategic Review Process (example)

Source: topgrademba.com


Initial steps

Determine the organisations future Vision and what Mission it carries out as well as Objectives, and Identify the Stakeholder Alignment. Make sure to determine Objectives on the strategic level.

Tools information
Search for case specific relevant tools under the categories:

Vision, Mission & Objectives
Stakeholders

 – or use the below models and frameworks that will be relevant in most cases.


External Environment

Review the External Environment that influence the organisation or business.

Tools information
Search for case specific relevant tools under the categories:

Environment External

– or use the below models and frameworks that will be relevant in most cases.


Internal Environment

Review the Internal Environment that determine the organisation’s or business’ capabilities.

Tools information
Search for case specific relevant tools under the categories:

Environment Internal

– or use the below models and frameworks that will be relevant in most cases.


SWOT

Identify the internal and external factors that are favorable and unfavorable to achieve competitive advantage.

SWOT analysis – TOWS Matrix


Strategic Direction

To determine the real growth options of the organisation or business, is one of the key challenges in the strategy process. The challenge is to compare the different options to the interest of Stakeholders, while evaluating risk, complexibility and sustainability of the strategy – as well as the resistance in the organisation during implementation of change.

In relation to this post regarding a Strategic Review, we will focus on Business Expansion and Strategy Validation without going into the important and critical details.


Business Expansion

First analyse and determine the growth options i relation to:

Ansoff’s Growth Vector

– and then select and apply the below models and frameworks that is be relevant in the specific case, to determine the strategic and tactical levels in more detail.


Strategy Validation

Assess the extent to which the proposed strategy fits the situation identified in the strategic analysis, and how it would sustain or improve the competitive position of the organisation, according to:

Strategy Evaluation – SFA-analysis

– and then select and apply the below models and frameworks that is be relevant in the specific case, to determine the strategic and tactical levels in more detail.


Find more information regarding Strategic Review:

Essentials of Strategic Management

by Martyn R Pitt [SAGE Publications Ltd]
Price: £29.53 EUR 31,59 EUR 31,91 EUR 45,96

Foundations in Strategic Management

by Professor of Management in the College of Business Administration Jeffrey S Harrison [Cengage Learning]
Price: £47.07 EUR 216,95 EUR 88,52 EUR 235,21

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