What is a Strategic Management Model?
A strategic management model is a framework or methodology used to plan, execute, and evaluate strategies within a business. It typically involves setting objectives, defining initiatives, and measuring progress using metrics such as key performance indicators (KPIs). These models are used by businesses to ensure that their strategies are well-defined, actionable, and aligned with their long-term goals.
What's included in this Strategic Management Model template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Strategic Management Model template for?
This strategic management template is designed to help businesses of all sizes develop effective strategic plans. It is a comprehensive template that requires the user to define their focus areas, objectives, projects, and KPIs. This template is suitable for any business or organization looking to develop a structured and actionable strategic plan.
1. Define clear examples of your focus areas
A focus area is an area of business that you plan to focus on in order to achieve your strategic objectives. Examples of focus areas could include things like increasing operational efficiency, improving customer retention, or improving product quality. These focus areas give you a clear direction on where you should be focusing your efforts to achieve your strategic objectives.
2. Think about the objectives that could fall under that focus area
Objectives are the goals that you want to achieve within each focus area. They should be specific, measurable, and achievable. For example, if you have a focus area of increasing operational efficiency, your objectives could include reducing shipping wait times or increasing automation process efficiency.
3. Set measurable targets (KPIs) to tackle the objective
Key Performance Indicators (KPIs) are metrics that measure the success of your objectives. You should set KPIs for each of your objectives in order to track your progress. For example, if your objective is to reduce shipping wait times, you could set a KPI of decreasing the average shipping wait time by 15%.
4. Implement related projects to achieve the KPIs
Projects, or actions, are the steps that you will take in order to achieve your objectives. For example, if your objective is to reduce shipping wait times, your action could be to automate shipping processes. It is important to choose projects that are related to your objectives and are achievable within a reasonable timeframe.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform is a software platform designed to help businesses create, implement, and monitor their strategic plans. It allows businesses to develop their strategic plans in an organized and collaborative way, track their progress in real time, and make data-driven decisions to ensure they are on track to achieve their objectives.