An Expert Playbook to Successful Strategy Management

Unlock the secrets of successful strategy management with our new 2024 playbook, and learn how ClearPoint Strategy can streamline this process.
An Expert Playbook to Successful Strategy Management
Unlock the secrets of successful strategy management with our new 2024 playbook, and learn how ClearPoint Strategy can streamline this process.

Too many businesses get stuck in a cycle of reacting to short-term change instead of working towards long-term goals. Or, as baseball player Yogi Berra put it, “If you don’t know where you’re going, you’ll end up someplace else.”

Effective strategy management means working towards a common objective, or keeping your eye on the ball (pun intended).  Done well, everyone from leadership to employees will work towards the same goal. Without strategic management, companies can become a disjointed mess.

Here’s how strategic management works:

The Strategic Management Cycle Explained

In the spirit of getting everyone on the same page, let’s start with some definitions.

In other words, strategy lists out your goals and strategic management tells you how to achieve them.

Successful strategic management involves five steps:

Sounds simple, right?

Not so fast.

That’s 90% of companies!

Why? Getting everyone to agree and execute on one common goal is tricky. Agreeing on timelines can be a nightmare (just think of the last time you’ve planned a party with busy friends). Even just documenting these plans can be a challenge. It’s all too easy to drown in a sea of Excel spreadsheets. And, as always, life happens. Plans change.

That’s why more and more businesses turn to strategy management software.

A strategic management tool puts all your objectives, plans, and reporting in one place. Even better? A tool like ClearPoint includes many of the following tools and frameworks.

See for yourself by checking out the tool or booking a demo with one of our experts.

If you want to do the process manually, here are some tools and frameworks for each of the five steps.

1. Identify Your Future State: Strategic Planning Tools

The key steps in this phase include defining your purpose and vision and identifying core values. Ask yourself...

  • Where do you want to go from here? (Ex. How much would you like to be earning? How many people do you want in the company? What market share do you want to achieve?)
  • What is the one thing that makes your business special?
  • Who are our ideal customers and are we connecting with them?
  • Who are your most important competitors?

Different organizations have diverse visions, goals, and challenges. This diversity has given rise to a multitude of strategy reporting frameworks, each tailored to address specific needs. Some well-known frameworks include…

Not sure which tools are right for you? Download our book of definitions and templates for these strategic planning tools.

The beauty of these frameworks lies in their ability to provide a structured approach that aligns with the beliefs and objectives of an organization's leadership team.

2. Assess Your Current State: Strategic Planning Tools (Gap Analysis and SWOT)

Next up, you need to have a clear understanding of your current resources and work processes. One of the most effective tools for assessing your current state is a gap analysis.

This assessment will help you understand your overall effectiveness.

A gap analysis is most effective when you get specific. That’s why we wrote a full guide to gap analysis with an included free template.

Short on time? Here’s a 3-minute video to introduce you to the topic.

Another useful assessment during this stage is a SWOT analysis, or looking at your Strengths/Opportunities/Weaknesses/Threats. This thorough explanation of SWOT with examples will help guide you. You can also check out our free AI-powered SWOT analysis generator.

Test out our ClearPoint AI-driven SWOT analysis tool to see your strengths/weaknesses/opportunities/threats in minutes! 

3. Create an Action Plan: Strategic Planning Tools (OKRs and KPIs)

Now, it’s time to bridge the gap and turn your plan into action! That means…

  • Setting performance metrics
  • Mapping out timelines
  • Allocating team members to specific tasks

One of the most important steps in this stage is setting Objective Key Results (OKRs). This particular framework was created by two tech juggernauts — Google and Intel – so you know it’s good!

Here’s how venture capitalist and OKRs expert John Doerr defines the concept. 

“The objective is what I want to have accomplished. The key results are how I’m going to get it done.”

Ideally, your company will  focus on three to five OKRs. For more information, check out our strategic guide to OKRs or…

Try ClearPoint Strategy's AI Assistant to generate personalized OKRs for FREE

Next, you’ll want to translate those OKRs into projects with Key Performance Indicator metrics, or KPIs. These numbers will help keep measure whether you are on track to achieve your OKRs or not. Want more info? Read our best practices on setting and tracking KPIs.

4. Implement Your Plan: Strategic Management Software

Even if a company succeeds in defining and planning your strategy, most fail at actually implementing their plan. In fact, Harvard Business Review found that 67% of business strategies fail in execution.

The easiest way to keep your strategy plans on track is a strategy management software.

Software like ClearPoint directly links your strategic goals with nitty gritty project management details. Not convinced? You can use this article to evaluate the ROI of a strategy management software investment.

Otherwise, book a call with one of our experts to see how ClearPoint works with your business.

5. Monitor and Measure Your Progress: Strategic Management Software

How do you ensure that your operational plan is working? Three words: data, data, data.

Regular business reporting will help you know if you are on track for your goals or need to switch tactics.

Keep your team on track with our Management Reporting Guide!

We won’t lie – creating a comprehensive internal reporting system can be a labor-intensive process.  That’s why many companies use business reporting software like ClearPoint to build dashboards and custom reports. 

ClearPoint: Your Partner in Strategy Execution

Backed by over 50 years of strategy experience, we’re here to help you set, plan, and achieve your strategic goals. Get your team on the same page with ClearPoint software. See how it works or talk to an expert today.

How To Make Strategy Everyone's Job
Download: How to Make Strategy Everyone's Job
An Expert Playbook to Successful Strategy Management

Kelly Bui

Implementation Associate & Crocheter

Kelly works on the CS team, partnering with clients to achieve their goals through the effective usage of ClearPoint.

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