When forming a strategy you must realise for starts that people view the word strategy differently. However, the general view is STRATEGY AS A PLAN. Without a PLAN a strategy is a DREAM.
The plan must be supported by a rang of factors, it must also be managed. It should be something which helps you go from where you are (CURRENT STATE) to where you want to be (FUTURE STATE) and should have a roadmap (TRANSITION PLAN/ROADMP) of how you will get there.
When we talk about can I see your strategy, you will need to have it documented, a strategy without a document isn’t a strategy that can be shared and communicated. As to what “THE STRATEGY” document must be… well there is no such thing as a MUST, but there’s some component that are largely and widely recognised to be useful.
Useful Strategy Component Suggestions
- Business Alignment
- Stakeholder Matrix/Analysis
- Customer Analysis
- Market Analysis
- Financial Plan/Budget
- Benefit Analysis
- Benefit Dependency Diagram (BDN)
- Operating Model
- Strategic Risk Assessment
(oh also check out Wardley maps! I haven’t use these before but they look ace!)
Remember this is not a CAST IRON in STONE list ( I wrote this small blog in 18 minutes.. go figure, not that the pace is a bad thing, it’s just what’s in my head). You should make sure your strategy documentation support the goal of enabling the organisation/department/team in understanding the direction of travel and how as a whole their activities will support this. You also will likely want to demonstrate how your strategy supports the business (if it’s a strategy which supports an ENTERPRISE strategy (e.g., A cyber security strategy). Oh also pictures and words usually work well! and rationale! Framing is important, know your audience etc. etc.
The list was from my head, provoked by a conversation with a friend the other day. It’s no means exhaustive but hopefully gives people food for thought. Also, suggestion, largely you do NOT want to run off into a closed room to develop strategy, you generally need people “to be on board” with ideas and change, you do with (usually) with peoples buy in, not without it (largely, there are obviously some occasions when getting into a huddle with everyone is really not a good idea, use your little grey cells to work out the approach that fits your context)