A regular strategic review is a valuable exercise that businesses should conduct two to three times a yearย to ensure they are on track and identify areas for change.
It follows the development of a 3 – year growth map which oulines your key areas for growth and how you plan to measure your progress – what i call the critical success factors.
Here are the benefits of conducting a regular strategic review:
โณ๏ธ ๐๐ป๐ต๐ฎ๐ป๐ฐ๐ฒ๐ฑ ๐ฐ๐น๐ฎ๐ฟ๐ถ๐๐.
It allows you to take a step back to examine your current position from six months ago. What has worked well, and where do you need to improve?
โณ๏ธ ๐๐ป๐๐ถ๐ด๐ต๐๐:
Identify how different functions have been performed by assessing the results from the critical actions from your last review. What is the data telling you? What areas need attention? Are there any new targets?
โณ๏ธ ๐ฆ๐ต๐ถ๐ณ๐๐ ๐ถ๐ป ๐๐ต๐ฒ ๐บ๐ฎ๐ฟ๐ธ๐ฒ๐:
Any changes or new developments in the market. Customer preferences? Competitor behaviour.
โณ๏ธ ๐๐บ๐ฝ๐ฟ๐ผ๐๐ฒ๐ฑ ๐ฟ๐ฒ๐๐ผ๐๐ฟ๐ฐ๐ฒ ๐ฎ๐น๐น๐ผ๐ฐ๐ฎ๐๐ถ๐ผ๐ป:
Identify areas that are doing well, where to allocate resources, and how to prioritise initiatives that offer the greatest return on investment.
โณ๏ธ ๐ฆ๐๐๐๐ฎ๐ถ๐ป๐ฎ๐ฏ๐น๐ฒ ๐๐ฟ๐ผ๐๐๐ต
Know the strategic steps you need to take, such as introducing an innovation that can give you an advantage.
The importance of a strategic review cannot be overstated. The clarity it provides is encouraging, inspiring, and reassuring. Clients leave our sessions buoyant, hopeful, and excited, with renewed confidence in their business’s future.
After their review, an MD emailed and said, “I enjoyed the meeting and believe it’s given us another boost to move us forward and get us and the senior team working together better.”
