What is the purpose of Strategic Management?
The purpose of strategic management is simple: To develop and implement strategies to optimize shareholder value! In for-profit companies, that generally translates into maximizing profitability. Effective strategy management, however, is a change process and not just a metrics project.
Our Approach to Strategic Plan Development & Implementation
We believe successful strategy formulation is directly dependent on how well an organization gathers, manages, and synthesizes vital industry and company information into targeted, actionable activities. However, although the strategic planning process is important, it's the plan execution that really matters. In fact, the implementation of strategy is more important than the strategy itself! The strategic plan, therefore, should be a living, breathing document that provides a written framework to describe and communicate strategic guidance from the “boardroom to the backroom.”
How can MMCG help your business?
At MMCG, we help our clients develop and implement sound strategic plans that help grow their businesses profitably and achieve their goals. We can also help your company by guiding you through our
three phase process to:
Phase 1 - Assess where you are today
- Diagnostic assessment of your company's strategic position
- Market/industry trend analysis
- Competitor assessment
- Financial & operational benchmarking
- SWOT analysis
- Customer satisfaction assessments
Phase 2 - Define where you want to go, the path to get there, and the indicators of your arrival
- Hosting strategic planning retreats with boards and executive teams
- Developing statements of mission, vision, and fundamental core values
- Identifying and analyzing new growth opportunities
- Developing a Balanced Scorecard to articulate key objectives, measures, target values, and supporting strategic initiatives
Phase 3 - Take action and assess strategic performance
- Alignment of the organization to the strategy
- Cascade key performance indicators to make strategy everyone's job
- Strategic performance reviews
- Analysis of performance problems
- Course adjustments, if necessary
