Making Strategy a continual Process
85% of management teams spend less than an hour per month discussing strategies.
60% of organizations don’t link strategy and budgeting.
92% of the organizations don’t report on strategic lead indicators.
Strategy focused organizations use a “double-loop” process that integrates the management of budgets, operations, and the management of strategies. A reporting system based on the balance scorecard allows managers to keep track of the execution of activities.
The strategy focused management system is key for making strategy a continual process
- Monitor performance against strategy
- Develop new strategy insights
- Formulate new strategic directions
- Update the measures on scorecards
The double-loop strategic management system provides the foundation for making strategy a continual process.
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