| Top management |
|
Design and implementation of a suitable firm strategy determines the success of every company. Such a strategy should be derived from the vision of the company, a clear image of its future development and progress, and from the company's mission, the reason of its existence. The conception of the firm strategy and its advocacy in front of the owners is of the primary tasks of the top management. However, a great many employees affect its concept a bit in their own way. It is a key document, well known to all the employees, and it is commonly worked with. No strategy can succeed, if it is not a projection of the company's goals, both short-term and long-term ones. Every goal must be measurable and interpretable, because "if there is nothing to measure, there is nothing to manage"... 1) Strategic firm management Practical solutions:
- Analysis interpretation (SWOT etc.) - Creating a concept of the strategy
- Handling the strategic projects' design - Communicating the strategy through the organization - Systematic scheduled analysis of the strategy's implementation, Key Performance Indicators
2) Performance-focused strategic management Practical solutions:
- Setting the approval processes - Responsibility Assignment Matrix (RACI) - Delegation of competences
- Defining the key indicators of firm's efficiency (Key Performance Indicator) - Measuring the efficiency of a firm/ processes
|



