#61 Strategy check: How to put your company to the strategic test
The importance of a regular strategy checkIn a dynamic business world, it is crucial to regularly review and adjust your corporate strategy. The StrategyFrame strategy check provides a systematic method to evaluate and optimize the effectiveness and relevance of your corporate strategy.Step 1: Gather all relevant informationThe first step is to comprehensively gather all relevant company documents. This includes business plans, market analyses, financial reports and customer feedback. This information provides the basis for a detailed analysis.Step 2: Assignment to the StrategyFrame modulesThe next step is to assign this information to the various StrategyFrame modules. This process helps to get a clear picture of the current strategy in different areas such as market position, product innovation and operational efficiency.Step 3: Evaluation according to the traffic light systemAfterwards, each module is evaluated according to the traffic light system: green for areas that are working well, yellow for areas with potential for improvement and red for areas that urgently need to be revised. This assessment enables strengths and weaknesses to be identified quickly.Step 4: Develop an action planBased on the traffic light assessment, an action plan is developed. This plan defines specific measures to improve the areas that have been classified as yellow or red and defines responsibilities and deadlines.Conclusion: Continuous adaptation for long-term successA strategy check should not be seen as a one-off event, but as part of a continuous improvement process. Regular reviews and adjustments are crucial in order to be able to react agilely to market changes and ensure long-term success.
SHOWNOTES
Free webinar: Strategy Check 2024, 17.1.2024, 5 pmFree 30min strategy check 1:1 with Christian Underwood
Christian UnderwoodProf. Jürgen Weigand
StrategyFrameBook "Hope is not a strategy "Podcast "Hope is not a strategy"