Most strategic plans outline a series of goals, objectives and tactics, often however without really addressing what the organisations strategy actually is.
Strategy is much more than just the goals, objectives and actions that an organisation is going to undertake. A good strategy should be clear on how it intends to create value for its members / customers / participants, while making it clear what an organisation will and won’t do in order to achieve its objectives.
The following four questions can be used to help gain a clearer understanding of what your organisations strategy really is.
- Where do we compete? What markets are we active in?
- What unique value do we bring? Why have our customers / members chosen us rather than another competitor or service provider?
- What resources and capabilities do we have to deliver that value? These can be tangible such as a superior product or service, or could be intangible such as reputation or brand.
- How do we sustain our value? How do we continue to maintain the value we create for our members / customers? How do we continue to win over time?
While COVID-19 has been a major crisis that has affected us all, it should also be seen as an opportunity to innovate, adapt and review whether your strategy is fit for purpose into the future. Thinking about the four questions above can help elevate your strategic thinking and your plans to become truly strategic.
Purpose Driven Performance are governance and strategy specialists across the sport and not-for-profit sector. Get in touch if you would like to find out how we can help you and your organisation across the following areas.
⏳ Governance and board reviews
👥 Board induction, education and training
💡 Strategy development and planning
📊 Performance scorecard to monitor progress against your strategic objectives