5 steps to prepare business strategy for an execution

5 STEPS TO PREPARE BUSINESS STRATEGY FOR AN EXECUTION DEFINE YOUR VALUES MISSION, VISION, AND VALUES An inspiring picture of the perfect future of the company 1 VISION MISSION The purpose of the company SWOT RISK MANAGEMENT CONSTRAINS FORMULATING BUSINESS HYPOTHESIS AND STRATEGY STRATEGY GAP ANALYSIS PESTEL CUSTOMER NEEDS CAUSE AND EFFECT 2 STRATEGY DIAGNOSIS SOLUTION ACTION STRATEGY STRATEGY COMMENTARY FINANCIAL DESCRIPTION ON STRATEGY MAP CUSTOMERS STRATEGY MAP 3 INTERNAL BUSINESS OBJECTIVES EDUCATION & GROWTH GOAL OWNER Business Objective TARGETS VALIDATION Strategic initiative THRESHOLDS A 25%| Leading metrics STRATEGY aMLagging metrics BENCHMARKS BUDGET TIER 1 TOP MANAGEMENT STRATEGY ALIGNMENT (CASCADING) TIER 2 BUSINESS UNITS 4 TIER 3 EMPLOYEE Strategy map will help to focus company's resources on the important objectives; STRATEGY EXECUTION Leading and lagging metrics will help managers to track execution process; Aligned/cascaded objectives will make strategy everyone's job; SOURCE: BSC DESIGNER WWW.BSCDESIGNER.COM | BALANCED SCORECARD AND STRATEGY MAP SOFTWARE