In the Execution Premium book by Kaplan and Norton, they've put together a 'closed-loop' strategic framework called "management system: linking strategy to operations", which was divided into 6 stages:
1. Develop the Strategy: Mission, value, vision; strategic analysis; and strategy formulation.
2. Plan the Strategy: strategy maps/themes; measures/targets; initiative portfolios; funding/STRATEX.
3. Align the organization: business units; support units; employees.
4. Plan operations: key process improvement; sales planning; resource capacity plan; budgeting;
5. Monitor and learn: strategy reviews; operating reviews.
6. Test and adapt: profitability analysis; strategy correlations; emerging strategies.
Up to now I was aware of their contribution to the strategy execution challenge by addresing it through stages 2-5.
But in the stage 6, I noticed something 'new' to their work on strategy, where they state that "We believe that every company should conduct a strategy testing and adapting meeting at least annualy, and perhaps as often as quarterly [...] In this meeting executive team assess the performance of its strategy and considers the consequences of recent changes in the external environment"
Well, one can say that traditional strategic planning already considers annualy strategy review. But the questions are:
Is the environment really being monitored to track changes that affect strategy by challenging strategic assumptions? Or the product of the annual meeting is only a revised document, with updated numbers and a couple of misspelled words creections?
Can companies wait for the next year off-site to check the market evolution and possible impacts?
Besides applicable to the stage 6, I believe that CI practices can be extended to all other stages and found someone else who shares the same idea, a reference in CI field, that have already walked this path.
I eventually found an article written by Mr. Leonard Fuld and Mark Chodnowsky for Harvard Business Review entitled: "Mirror, Mirror: how to enhance the execution premium process with Competitive Intelligence".
In the figure # 1 below, they link many competitive intelligence tools that can be used for each stage of the strategic management system advocated by BSC autohrs.
Source: Adapted from Mirror, Mirror: How to Enhance the Execution Premium Process with Competitive Intelligence, Leonard Fuld, Mark Chodnowsky
After reading that article my research came full circle.
I finish this post by providing the link to his article.
Read @: http://bit.ly/f3iVul
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