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The process of implementing a corporate strategy typically involves the following stages:
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With a given strategy, several strategic initiatives may be formed which lead to multiple projects under each initiative. There may be hundreds of projects that are underway at any one time, all supposedly aligned to key corporate strategies. Gaps frequently occur between initiatives and projects. Which projects are priority and aligned with corporate strategy?
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How do companies ensure that strategy is aligned to key initiatives that then lead to specific action plans and projects?
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Strategy development often becomes disconnected from the implementation phase resulting in wasted resources, lost time, and overall project failure. Strategies are frequently revised due to changes in the marketplace, competition or other factors. These strategic changes are not easily communicated throughout a corporation on a timely and efficient basis.
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Managers need to focus their limited resources on what is really important, not justifying projects that are not strategically aligned. As resources are in demand, managers need to be apprised of changes as they happen.
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Y-Change’s web-based solution allows for greater visibility of corporate strategies, initiatives and projects so that all parts of the company remain aligned strategically: Y-Change solutions
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