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Usually, a good transformation strategy should be focused on three major pillars: People, Processes, and Technology. There are few aspects necessary also to build and execute a successful transformation strategy such as Top Management Support, Organization willing and readiness to adopt changes.
To make it easier for us to understand exactly what the three pillars include, I'm going to brief them as below:
People: is related to all human assets in the organization that will lead the new transformation to the success point and to achieve the organization new startegic objectives. That may also include organization structure and human capital management (e.g., workforce planning, leadership development, recruiting, performance management, training and development, reward systems, labor relations, and diversity management).
Processes: is related to Business Processes and the policies and procedures governed them. This includes Business Process Management, Re-engineering, enahncements ...etc. Policies & Procedures revision, enhancement, and enforcement.
Technology: is related to the new technology that may assist the organization to automate some or a lot of their operations to cut the cost and improve the productivity and effecincy.
Best regards,
Abdullah.
1. Goals as SMART Objectives
2. Communication of the Objectives
3. Governance and control of the process after determination of internal capabilities and leveraging opportunities
Preparing for change : Preparation, assessment and strategy development
Managing change :Detailed planning and change management implementation
Reinforcing change: Data gathering, corrective action and recognition
"Purpose, People, Promise".
Michael Porter wrote in1980 that formulation of competitive strategy includes consideration of four key elements rather than3:
The first two elements relate to factors internal to the company (i.e., the internal environment), while the latter two relate to factors external to the company (i.e., the external environment).[3] These elements are considered throughout the strategic planning process.
Data is gathered from a variety of sources, such as interviews with key executives, review of publicly available documents on the competition or market, primary research (e.g., visiting or observing competitor places of business or comparing prices), industry studies, etc. This may be part of a competitive intelligence program. Inputs are gathered to help support an understanding of the competitive environment and its opportunities and risks. Other inputs include an understanding of the values of key stakeholders, such as the board, shareholders, and senior management. These values may be captured in an organization's vision and mission statements.
Strategic planning activities include meetings and other communication among the organization's leaders and personnel to develop a common understanding regarding the competitive environment and what the organization's response to that environment (its strategy) should be. A variety of strategic planning tools (described in the section below) may be completed as part of strategic planning activities.
The organization's leaders may have a series of questions they want answered in formulating the strategy and gathering inputs, such as:
The output of strategic planning includes documentation and communication describing the organization's strategy and how it should be implemented, sometimes referred to as the strategic plan. The strategy may include a diagnosis of the competitive situation, a guiding policy for achieving the organization's goals, and specific action plans to be implemented.[2] A strategic plan may cover multiple years and be updated periodically.
The organization may use a variety of methods of measuring and monitoring progress towards the objectives and measures established, such as a balanced scorecard or strategy map. Companies may also plan their financial statements (i.e., balance sheets, income statements, and cash flows) for several years when developing their strategic plan, as part of the goal setting activity. The term budget is often used to describe the expected financial performance of an organization for the upcoming year.
