Ftm Business Template - Health Check Strategy
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HealthCheck Strategy Business Template
What is a HealthCheck?
When should you use it?
The Strategy HealthCheck template provides a structured method for assessing the current status of the Strategy area of your business based on industry best practices.
Make the use of HealthChecks part of your annual review of the critical areas of your business. However, ensure that your improvement actions are planned and monitored on a more regular (quarterly) basis. Note that for some teams, the HealthCheck will also form part of an external audit or compliance process driven by customers or industry regulators.
Why is it relevant? As industries become more competitive survival is about doing more with less whilst still delivering against customer expectations at a level that exceeds the competition. To achieve this you need to: 1) understand what ‘best practice’ looks like, and 2) understand your current performance – ideally against the competition.
Who needs to be involved? The HealthCheck is completed by all those that are responsible for performance in this particular area of the business, but ensure you seek the views of all those involved – even if you do not agree with them. Stakeholders may mainly be internal to the business, but ensure that you get an external perspective involving the views of key customers and suppliers.
How should you implement it? Plan the HealthCheck carefully and ensure that you get the right people involved early in the process. Gather information through face-to-face interviews where possible, although electronic checklists can enable you to involve a larger group. Gather evidence of performance as you go. Then consolidate the various views and look for areas of inconsistency across different stakeholders, and assess areas of concern. Finally, develop a clear action plan with ownership and timings for getting to green or for improving the score on an individual item.
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
HealthCheck Strategy This is a case example based on a fictitious company called TVT – all the data is displayed for demonstration purposes only. For a detailed explanation of what each cell is used for please refer to the Virtual Consultant on the following pages.
ID
Category
1
Leadership
A
Strategic Priority
B
Evaluation criteria Score
Status
Strategy is a strategic priority within the business, and the senior management team shows active and visible commitment.
2
Green
Strategy Executive
A member of the Executive team has responsibility for the effective and efficient introduction of strategy across the business.
3
Green
C
Manager cascade
Strategy KPIs are cascaded down through the organization so that all managers have strategy as part of their annual objectives.
2
Amber
2
Strategic Focus
Score
Status
A
Clear extent & direction
The organization understands how important strategy is, and the extent and direction of strategy has been defined and agreed.
4
Green
B
Customer Focus
Strategy activities go beyond New Product Development (NPD), and embraces: new markets, process re-engineering, supply chain redesign and business transformation.
4
Green
C
Integrated approach
The business has a sustainable approach to strategy across ALL functions (beyond marketing) and teams, driven by the future needs of customer musts and wants.
5
Green
3
Internal Challenge
Score
Status
A
Central database
New ideas arising from operations are captured and fed into a central decision making forum for review (by the Strategy Board).
4
Amber
B
Time & budget
There is sufficient time and budget allocated to the internal generation of new ideas within formal workshops and during day-to-day activities.
3
Amber
C
Breakthrough
Internal teams constantly seek ways of improving what they do and how they do it, and achieving a breakthrough change in performance levels.
4
Green
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
Score
Status
Changes and discontinuities in the external environment and customer musts and wants are used to stimulate ideas for dramatic improvement in internal performance.
4
Green
Competitor Analysis
Major customers and competitors are understood, and their relative strengths and weaknesses identified – providing a rich source of new ideas that improve competitive performance.
4
Green
C
Scanning
There is a systematic approach to scanning the external and competitive environments and circulation of key insights, opportunities and threats internally across the business.
5
Green
5
Strategic Choice
Score
Status
A
End-to-End process
The business has an effective an efficient ‘end to end’ strategy process (from idea to implementation) that is understood by all teams.
1
Red
A
Aligned with goals
Strategy projects are clearly aligned to strategic priorities in terms of high growth and high emphasis products and markets.
2
Amber
C
Effective prioritisation
There is an effective screening and prioritisation process for ideas and strategies based on more than gut feel or who shouts the loudest.
2
Amber
6
Implementation Process
Score
Status
A
Best practice
Best practice strategy techniques have been defined and adopted across the business, and there is a Gating process where go / no go decisions are made and communicated.
3
Amber
B
Resources & budgets
Sufficient resources and budget are allocated to strategy projects to maximise the probability of success – implementation activities are not thrown on top of the day-job.
2
Amber
C
Issues & risk management
Issues and risks are proactively identified, assessed and mitigated before they become crises.
3
Amber
7
Support Systems
Score
Status
A
Full visibility & control
The Senior Management Team has full visibility and control of the Strategy Process anywhere, anytime.
1
Red
B
Common tool set
The system enables the consistent use of best practice techniques across
1
Red
4
External Challenge
A
Market & Customer Trends
B
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
the whole business including remote teams. C
Learning culture
IT systems enable a continuous learning culture and effective Knowledge Management.
2
Red
8
Strategy Champions
Score
Status
A
Formal Roles
The role of the Strategy Champion (whether full or part time) has been defined and exists in all critical functions.
4
Green
B
Owned at all levels
The Strategy Process is owned at all levels (through Strategy Champions, Chief Strategy Officer, Project or Programme Manager).
5
Green
C
Right skills
Staff and management involved in strategy have the right skills – e.g. creativity, process expertise, project and risk management experience.
5
Green
9
Culture
Score
Status
A
Supportive culture
There is a culture and system that supports continuous strategy and improvement.
4
Green
B
Acceptance of failure
Whilst successes are celebrated, failures are also accepted as a possible outcome of truly innovative activities.
4
Green
C
Performance System
There is a reward and recognition system (not necessarily financially based) that encourages people to identify and put forward new ideas.
5
Green
10
Performance Management
Score
Status
A
Agreed Key Performance Indicators
Each strategy project has clear and agreed Key Performance Indicators (KPIs) and Return on Strategy Investment (RoI) targets.
4
Green
B
Clear review process
A review process for monitoring progress exists where key stakeholders will meet to review the strategy portfolio as a whole.
5
Green
C
Learning
Insights and lessons learned are capture and fed into future teams in order to maximise strategy effectiveness and avoid repeat mistakes.
3
Amber
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
Audit Summary For each element of the checklist add up the scores of the 3 related questions and divide by 3 – this will give you an average score for that specific element. See example below. Element
Score
0
1
2
3
4
5
Improvement Actions
Leadership
2.3
Need to ensure an effective cascade of strategic KPIs down throughout all teams
Strategic Focus
4.3
Internal Challenge
3.7
External Challenge
4.3
Strategic Choice
1.7
Need to gain buy-in to the framework used for strategy option evaluation
Implementation Process
2.7
Need to redesign the end-to-end strategy process focusing on implementing change
Support Systems
1.3
Need to invest in new web-technologies to support visibility of strategy
Strategy Champions
4.7
Culture
4.3
Performance Management
3.9
Need to review the effectiveness of the new ideas database
Need to formalise the process for capturing and disseminating insights
In the TVT example above, the managers conducting the Audit have identified that the weakest link is that of the Support Systems used (average score 1.3). The plan would therefore be to focus attention on and improve this area within the business first until it was no longer the weakest link. Once the senior management team has increased confidence that the Platform (in this example) has improved, the next stage would be to focus on the Strategic Choice (1.7) and Leadership (2.3) areas.
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
Virtual ConsultantTM The Virtual ConsultantTM provides a step-by-step guide to completing this business template. It is worded as a series of questions designed to make you stop and think about this topic in a challenging and creative way – as if a business coach or consultant was sitting next to you.
HealthCheck Use the following checklist to assess the current state of your team: Consider each criterion in turn and use the following scoring system to identify current performance: 0 – Not done or defined within the business: unaware of its importance to strategy management 1 – Aware of area but little or no work done in the business 2 – Recognised as an area of importance. Some work done in this area 3 – Area clearly defined and work done in the area in terms of strategy management 4 – Consistent use of best practice tools and techniques in this area across the business 5 – Area is recognised as being ‘best in class’ and could be a reference area for best practice Then reflect on the lowest scores and identify those areas that are critical to success and flag then as status ‘Red’ requiring immediate attention. Then identify those areas that you are concerned about, and flag those as status ‘Amber’ implying areas of risk that need to be monitored closely. In your strategy framework the whole strategy process is only as good as each individual element. If one ‘link in the chain’ is weak then the strategy process within the company will not operate to optimum efficiency and there is an increased risk of failure. The action plan therefore should be to focus attention and resources on the elements of greatest weakness first, and then to move the whole framework to a level of excellence. This approach optimises the use of resources and sets up a process of continuous improvement.
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
HealthCheck Strategy Use the following blank template to address an issue or opportunity within your business or team
Form 1: Detailed Audit ID
Category
Evaluation criteria
1
Leadership
A
Strategic Priority
Strategy is a strategic priority within the business, and the senior management team shows active and visible commitment.
B
Strategy Executive
A member of the Executive team has responsibility for the effective and efficient introduction of strategy across the business.
C
Manager cascade
Strategy KPIs are cascaded down through the organization so that all managers have strategy as part of their annual objectives.
2
Strategic Focus
A
Clear extent & direction
The organization understands how important strategy is, and the extent and direction of strategy has been defined and agreed.
B
Customer Focus
Strategy activities go beyond New Product Development (NPD), and embraces: new markets, process re-engineering, supply chain redesign and business transformation.
C
Integrated approach
The business has a sustainable approach to strategy across ALL functions (beyond marketing) and teams, driven by the future needs of customer musts and wants.
3
Internal Challenge
A
Central database
New ideas arising from operations are captured and fed into a central decision making forum for review (by the Strategy Board).
B
Time & budget
There is sufficient time and budget allocated to the internal generation of new ideas within formal workshops and during day-to-day activities.
C
Breakthrough
Internal teams constantly seek ways of improving what they do and how they do it, and achieving a breakthrough change in performance levels.
4
External Challenge
A
Market & Customer Trends
Changes and discontinuities in the external environment and customer musts and wants are used to stimulate ideas for dramatic improvement in internal performance.
B
Competitor Analysis
Major customers and competitors are understood, and their relative strengths and weaknesses identified – providing a rich source of new ideas that improve competitive performance.
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
Score
Status
Score
Status
Score
Status
Score
Status
C
Scanning
There is a systematic approach to scanning the external and competitive environments and circulation of key insights, opportunities and threats internally across the business.
5
Strategic Choice
A
End-to-End process
The business has an effective an efficient ‘end to end’ strategy process (from idea to implementation) that is understood by all teams.
A
Aligned with goals
Strategy projects are clearly aligned to strategic priorities in terms of high growth and high emphasis products and markets.
C
Effective prioritisation
There is an effective screening and prioritisation process for ideas and strategies based on more than gut feel or who shouts the loudest.
6
Implementation Process
A
Best practice
Best practice strategy techniques have been defined and adopted across the business, and there is a Gating process where go / no go decisions are made and communicated.
B
Resources & budgets
Sufficient resources and budget are allocated to strategy projects to maximise the probability of success – implementation activities are not thrown on top of the day-job.
C
Issues & risk management
Issues and risks are proactively identified, assessed and mitigated before they become crises.
7
Support Systems
A
Full visibility & control
The Senior Management Team has full visibility and control of the Strategy Process anywhere, anytime.
B
Common tool set
The system enables the consistent use of best practice techniques across the whole business including remote teams.
C
Learning culture
IT systems enable a continuous learning culture and effective Knowledge Management.
8
Strategy Champions
A
Formal Roles
The role of the Strategy Champion (whether full or part time) has been defined and exists in all critical functions.
B
Owned at all levels
The Strategy Process is owned at all levels (through Strategy Champions, Chief Strategy Officer, Project or Programme Manager).
C
Right skills
Staff and management involved in strategy have the right skills – e.g. creativity, process expertise, project and risk management experience.
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
Score
Status
Score
Status
Score
Status
Score
Status
9
Culture
A
Supportive culture
There is a culture and system that supports continuous strategy and improvement.
B
Acceptance of failure
Whilst successes are celebrated, failures are also accepted as a possible outcome of truly innovative activities.
C
Performance System
There is a reward and recognition system (not necessarily financially based) that encourages people to identify and put forward new ideas.
10
Performance Management
A
Agreed Key Performance Indicators
Each strategy project has clear and agreed Key Performance Indicators (KPIs) and Return on Strategy Investment (RoI) targets.
B
Clear review process
A review process for monitoring progress exists where key stakeholders will meet to review the strategy portfolio as a whole.
C
Learning
Insights and lessons learned are capture and fed into future teams in order to maximise strategy effectiveness and avoid repeat mistakes.
Form 2: Audit Summary Element
Score
0
1
2
3
4
5
Improvement Actions
Leadership Strategic Focus Internal Challenge External Challenge Strategic Choice Implementation Process Support Systems Strategy Champions Culture Performance Management
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
Score
Status
Score
Status
What is a HealthCheck?
When should you use it?
The Strategy HealthCheck template provides a structured method for assessing the current status of the Strategy area of your business based on industry best practices.
Make the use of HealthChecks part of your annual review of the critical areas of your business. However, ensure that your improvement actions are planned and monitored on a more regular (quarterly) basis. Note that for some teams, the HealthCheck will also form part of an external audit or compliance process driven by customers or industry regulators.
Why is it relevant? As industries become more competitive survival is about doing more with less whilst still delivering against customer expectations at a level that exceeds the competition. To achieve this you need to: 1) understand what ‘best practice’ looks like, and 2) understand your current performance – ideally against the competition.
Who needs to be involved? The HealthCheck is completed by all those that are responsible for performance in this particular area of the business, but ensure you seek the views of all those involved – even if you do not agree with them. Stakeholders may mainly be internal to the business, but ensure that you get an external perspective involving the views of key customers and suppliers.
How should you implement it? Plan the HealthCheck carefully and ensure that you get the right people involved early in the process. Gather information through face-to-face interviews where possible, although electronic checklists can enable you to involve a larger group. Gather evidence of performance as you go. Then consolidate the various views and look for areas of inconsistency across different stakeholders, and assess areas of concern. Finally, develop a clear action plan with ownership and timings for getting to green or for improving the score on an individual item.
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
HealthCheck Strategy This is a case example based on a fictitious company called TVT – all the data is displayed for demonstration purposes only. For a detailed explanation of what each cell is used for please refer to the Virtual Consultant on the following pages.
ID
Category
1
Leadership
A
Strategic Priority
B
Evaluation criteria Score
Status
Strategy is a strategic priority within the business, and the senior management team shows active and visible commitment.
2
Green
Strategy Executive
A member of the Executive team has responsibility for the effective and efficient introduction of strategy across the business.
3
Green
C
Manager cascade
Strategy KPIs are cascaded down through the organization so that all managers have strategy as part of their annual objectives.
2
Amber
2
Strategic Focus
Score
Status
A
Clear extent & direction
The organization understands how important strategy is, and the extent and direction of strategy has been defined and agreed.
4
Green
B
Customer Focus
Strategy activities go beyond New Product Development (NPD), and embraces: new markets, process re-engineering, supply chain redesign and business transformation.
4
Green
C
Integrated approach
The business has a sustainable approach to strategy across ALL functions (beyond marketing) and teams, driven by the future needs of customer musts and wants.
5
Green
3
Internal Challenge
Score
Status
A
Central database
New ideas arising from operations are captured and fed into a central decision making forum for review (by the Strategy Board).
4
Amber
B
Time & budget
There is sufficient time and budget allocated to the internal generation of new ideas within formal workshops and during day-to-day activities.
3
Amber
C
Breakthrough
Internal teams constantly seek ways of improving what they do and how they do it, and achieving a breakthrough change in performance levels.
4
Green
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
Score
Status
Changes and discontinuities in the external environment and customer musts and wants are used to stimulate ideas for dramatic improvement in internal performance.
4
Green
Competitor Analysis
Major customers and competitors are understood, and their relative strengths and weaknesses identified – providing a rich source of new ideas that improve competitive performance.
4
Green
C
Scanning
There is a systematic approach to scanning the external and competitive environments and circulation of key insights, opportunities and threats internally across the business.
5
Green
5
Strategic Choice
Score
Status
A
End-to-End process
The business has an effective an efficient ‘end to end’ strategy process (from idea to implementation) that is understood by all teams.
1
Red
A
Aligned with goals
Strategy projects are clearly aligned to strategic priorities in terms of high growth and high emphasis products and markets.
2
Amber
C
Effective prioritisation
There is an effective screening and prioritisation process for ideas and strategies based on more than gut feel or who shouts the loudest.
2
Amber
6
Implementation Process
Score
Status
A
Best practice
Best practice strategy techniques have been defined and adopted across the business, and there is a Gating process where go / no go decisions are made and communicated.
3
Amber
B
Resources & budgets
Sufficient resources and budget are allocated to strategy projects to maximise the probability of success – implementation activities are not thrown on top of the day-job.
2
Amber
C
Issues & risk management
Issues and risks are proactively identified, assessed and mitigated before they become crises.
3
Amber
7
Support Systems
Score
Status
A
Full visibility & control
The Senior Management Team has full visibility and control of the Strategy Process anywhere, anytime.
1
Red
B
Common tool set
The system enables the consistent use of best practice techniques across
1
Red
4
External Challenge
A
Market & Customer Trends
B
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
the whole business including remote teams. C
Learning culture
IT systems enable a continuous learning culture and effective Knowledge Management.
2
Red
8
Strategy Champions
Score
Status
A
Formal Roles
The role of the Strategy Champion (whether full or part time) has been defined and exists in all critical functions.
4
Green
B
Owned at all levels
The Strategy Process is owned at all levels (through Strategy Champions, Chief Strategy Officer, Project or Programme Manager).
5
Green
C
Right skills
Staff and management involved in strategy have the right skills – e.g. creativity, process expertise, project and risk management experience.
5
Green
9
Culture
Score
Status
A
Supportive culture
There is a culture and system that supports continuous strategy and improvement.
4
Green
B
Acceptance of failure
Whilst successes are celebrated, failures are also accepted as a possible outcome of truly innovative activities.
4
Green
C
Performance System
There is a reward and recognition system (not necessarily financially based) that encourages people to identify and put forward new ideas.
5
Green
10
Performance Management
Score
Status
A
Agreed Key Performance Indicators
Each strategy project has clear and agreed Key Performance Indicators (KPIs) and Return on Strategy Investment (RoI) targets.
4
Green
B
Clear review process
A review process for monitoring progress exists where key stakeholders will meet to review the strategy portfolio as a whole.
5
Green
C
Learning
Insights and lessons learned are capture and fed into future teams in order to maximise strategy effectiveness and avoid repeat mistakes.
3
Amber
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
Audit Summary For each element of the checklist add up the scores of the 3 related questions and divide by 3 – this will give you an average score for that specific element. See example below. Element
Score
0
1
2
3
4
5
Improvement Actions
Leadership
2.3
Need to ensure an effective cascade of strategic KPIs down throughout all teams
Strategic Focus
4.3
Internal Challenge
3.7
External Challenge
4.3
Strategic Choice
1.7
Need to gain buy-in to the framework used for strategy option evaluation
Implementation Process
2.7
Need to redesign the end-to-end strategy process focusing on implementing change
Support Systems
1.3
Need to invest in new web-technologies to support visibility of strategy
Strategy Champions
4.7
Culture
4.3
Performance Management
3.9
Need to review the effectiveness of the new ideas database
Need to formalise the process for capturing and disseminating insights
In the TVT example above, the managers conducting the Audit have identified that the weakest link is that of the Support Systems used (average score 1.3). The plan would therefore be to focus attention on and improve this area within the business first until it was no longer the weakest link. Once the senior management team has increased confidence that the Platform (in this example) has improved, the next stage would be to focus on the Strategic Choice (1.7) and Leadership (2.3) areas.
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
Virtual ConsultantTM The Virtual ConsultantTM provides a step-by-step guide to completing this business template. It is worded as a series of questions designed to make you stop and think about this topic in a challenging and creative way – as if a business coach or consultant was sitting next to you.
HealthCheck Use the following checklist to assess the current state of your team: Consider each criterion in turn and use the following scoring system to identify current performance: 0 – Not done or defined within the business: unaware of its importance to strategy management 1 – Aware of area but little or no work done in the business 2 – Recognised as an area of importance. Some work done in this area 3 – Area clearly defined and work done in the area in terms of strategy management 4 – Consistent use of best practice tools and techniques in this area across the business 5 – Area is recognised as being ‘best in class’ and could be a reference area for best practice Then reflect on the lowest scores and identify those areas that are critical to success and flag then as status ‘Red’ requiring immediate attention. Then identify those areas that you are concerned about, and flag those as status ‘Amber’ implying areas of risk that need to be monitored closely. In your strategy framework the whole strategy process is only as good as each individual element. If one ‘link in the chain’ is weak then the strategy process within the company will not operate to optimum efficiency and there is an increased risk of failure. The action plan therefore should be to focus attention and resources on the elements of greatest weakness first, and then to move the whole framework to a level of excellence. This approach optimises the use of resources and sets up a process of continuous improvement.
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
HealthCheck Strategy Use the following blank template to address an issue or opportunity within your business or team
Form 1: Detailed Audit ID
Category
Evaluation criteria
1
Leadership
A
Strategic Priority
Strategy is a strategic priority within the business, and the senior management team shows active and visible commitment.
B
Strategy Executive
A member of the Executive team has responsibility for the effective and efficient introduction of strategy across the business.
C
Manager cascade
Strategy KPIs are cascaded down through the organization so that all managers have strategy as part of their annual objectives.
2
Strategic Focus
A
Clear extent & direction
The organization understands how important strategy is, and the extent and direction of strategy has been defined and agreed.
B
Customer Focus
Strategy activities go beyond New Product Development (NPD), and embraces: new markets, process re-engineering, supply chain redesign and business transformation.
C
Integrated approach
The business has a sustainable approach to strategy across ALL functions (beyond marketing) and teams, driven by the future needs of customer musts and wants.
3
Internal Challenge
A
Central database
New ideas arising from operations are captured and fed into a central decision making forum for review (by the Strategy Board).
B
Time & budget
There is sufficient time and budget allocated to the internal generation of new ideas within formal workshops and during day-to-day activities.
C
Breakthrough
Internal teams constantly seek ways of improving what they do and how they do it, and achieving a breakthrough change in performance levels.
4
External Challenge
A
Market & Customer Trends
Changes and discontinuities in the external environment and customer musts and wants are used to stimulate ideas for dramatic improvement in internal performance.
B
Competitor Analysis
Major customers and competitors are understood, and their relative strengths and weaknesses identified – providing a rich source of new ideas that improve competitive performance.
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
Score
Status
Score
Status
Score
Status
Score
Status
C
Scanning
There is a systematic approach to scanning the external and competitive environments and circulation of key insights, opportunities and threats internally across the business.
5
Strategic Choice
A
End-to-End process
The business has an effective an efficient ‘end to end’ strategy process (from idea to implementation) that is understood by all teams.
A
Aligned with goals
Strategy projects are clearly aligned to strategic priorities in terms of high growth and high emphasis products and markets.
C
Effective prioritisation
There is an effective screening and prioritisation process for ideas and strategies based on more than gut feel or who shouts the loudest.
6
Implementation Process
A
Best practice
Best practice strategy techniques have been defined and adopted across the business, and there is a Gating process where go / no go decisions are made and communicated.
B
Resources & budgets
Sufficient resources and budget are allocated to strategy projects to maximise the probability of success – implementation activities are not thrown on top of the day-job.
C
Issues & risk management
Issues and risks are proactively identified, assessed and mitigated before they become crises.
7
Support Systems
A
Full visibility & control
The Senior Management Team has full visibility and control of the Strategy Process anywhere, anytime.
B
Common tool set
The system enables the consistent use of best practice techniques across the whole business including remote teams.
C
Learning culture
IT systems enable a continuous learning culture and effective Knowledge Management.
8
Strategy Champions
A
Formal Roles
The role of the Strategy Champion (whether full or part time) has been defined and exists in all critical functions.
B
Owned at all levels
The Strategy Process is owned at all levels (through Strategy Champions, Chief Strategy Officer, Project or Programme Manager).
C
Right skills
Staff and management involved in strategy have the right skills – e.g. creativity, process expertise, project and risk management experience.
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
Score
Status
Score
Status
Score
Status
Score
Status
9
Culture
A
Supportive culture
There is a culture and system that supports continuous strategy and improvement.
B
Acceptance of failure
Whilst successes are celebrated, failures are also accepted as a possible outcome of truly innovative activities.
C
Performance System
There is a reward and recognition system (not necessarily financially based) that encourages people to identify and put forward new ideas.
10
Performance Management
A
Agreed Key Performance Indicators
Each strategy project has clear and agreed Key Performance Indicators (KPIs) and Return on Strategy Investment (RoI) targets.
B
Clear review process
A review process for monitoring progress exists where key stakeholders will meet to review the strategy portfolio as a whole.
C
Learning
Insights and lessons learned are capture and fed into future teams in order to maximise strategy effectiveness and avoid repeat mistakes.
Form 2: Audit Summary Element
Score
0
1
2
3
4
5
Improvement Actions
Leadership Strategic Focus Internal Challenge External Challenge Strategic Choice Implementation Process Support Systems Strategy Champions Culture Performance Management
© SofTools, 2009. For more information on related products and services, visit www.Fast-Track-Me.com or contact us at: [email protected]
Score
Status
Score
Status
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