Previously we discussed (What is strategic Planning.)
In this post, we move on to what is a strategy review. Strategy Review is the foundation of any strategic management process. By Setting the goals and objectives, making changes adapting and repeating the process at an interval maybe (monthly or quarterly).
While Strategy review focuses on whether the organization is working on the right way (right direction). In this post, we are focusing on how to plan a meeting for strategic review. Such meetings are necessary to ensure the firm is working in the right direction.
As Winston Churchill famously said,
“However beautiful the strategy, you should occasionally look at the results.” But how can strategy review be done effectively in order to come up with adequate solutions?
1- Make a plan ahead: To ensure you have a good strategy review meeting you need to prepare the issues that will be discussed, the vital and critical issues and inform those who are working on it the meeting should focus on the strategy and not the operations itself.
2- Issues to be discussed: The strategic review meeting is planned. So, the people who are working on it have the time to review it further, employees are left without any excuses before the meeting. Eventually, the discussion focus will depend on fact-based decisions from the data you already gathered.
3- Keep the decisions noted Keep a good track of what was discussed and decisions that were made. Moreover, note who is accountable for what and when the assigned tasks are completed. Finally, if the meeting goes off track try to schedule another meeting if necessary to finish and solve the issues represented.
4- Monitoring the feedback The goal of the meeting is to monitor the decision that has been taken and follow them up and this should be the organization culture. In the end, changes won't happen overnight put following a clear written known map will save both time and effort on fixing the firm problems.
A strategic review shows indicators that the mapped out goals of the organization are being realized. Without this, an organization does not have a goal it wants to achieve. It is the strategic reviews that track what an organization has been able to achieve through its activities. Every organization would need a strategic review at every point in time because every CEO wants a plan that is being actualized and not sitting on the shelf.