Developing a well-definedorganizational strategyto guide decision-making and drive success becomes increasingly essential as businesses grow and evolve. But with so many different approaches to strategy development, it can be challenging to know where to begin.
In this blog post, we’ll explore the three fundamental approaches todeveloping an organizational strategy, provide insights into each approach, and highlight examples of how they can be applied. So whether you’re new to strategy development or looking to refine your existing approach, this post is a must-read for anyone looking to take their business to the next level.
Let’s get to it!
3 Approaches to Developing an Organizational Strategy
So, what are the most common, popular, or successful approaches to developing an organizational strategy? There are three types of approaches that spring to mind immediately. These approaches to developing an organizational strategy are:
- Planning or Goal-Based Approach
- Emergent or Issue-Based Approach
- And Resource or Systems-Based Approach
Each of these approaches can be beneficial when implemented under the right conditions – and harmful if used otherwise. That’s why it’s essential for decision-makers to gain a comprehensive understanding of each of these approaches to developing an organizational strategy.
- The Planning or Goal-Based Approach
This approach to developing an organizational strategy works backward from established goals or plans.
This approach provides an exciting and forward-thinking foundation for developing an organizational strategy but requires an exhaustive and comprehensive approach to establishing long-term business goals.
You’ll also need an expert-level understanding of how your organization generates value for your consumer base and a high degree of confidence in the stability of your business, market, and industry.
Once these prerequisites for success are satisfied, planning or goal-based approaches provide an action-oriented framework for developing an organizational strategy that steadily advances businesses toward their chosen goals.
- The Emergent or Issue-Based Approach
The emergent or issue-based approach throws planning and goals out the window in favor of extreme flexibility and responsiveness.
Emergent or issue-based approaches rely on regular analysis of a business’s strengths, weaknesses, opportunities, and threats to identify emerging circ*mstances that can inform or direct thecreation of a successful organizational strategy.
Emergent and issue-based approaches prioritize problem-solving over all else, including alignment with overarching visions or values and long-term business goals. Organizations that elect to leverage this approach to creating an organizational strategy will work backward from issues in the same manner businesses that elect to use a planning-based approach work backward from their goals.
- The Resource or Systems-Based Approach
The resource or systems-based approach to developing an organizational strategy is the most balanced approach in this trio.
Resource and systems-based approaches place an equal emphasis on variables like an organization’s mission, structure, culture, market position, competitive advantages and disadvantages, and long-term goals to create a comprehensive, multi-faceted strategy for developing an organizational strategy.
Strategic Planning Approach in Management
A strategic planning approach in management makes promoting efficiency, productivity, and top-tier performance a systemic, replicable process. The framework or roadmap created by a strategic planning approach to leadership can be leveraged to prioritize tasks, evaluate and improve procedures and policies, and support theoverarching goals of the organization.
Strategic planning approaches to management provide invaluable clarity and insight into essential business questions like:
- Where is our company headed?
- What values drive our organization?
- Who does our organization serve?
- Where are opportunities to grow? How can we capitalize on them?
- What are our primary goals over the next three-five years?
- How do we provide, create, or distribute value to customers?
- And what’s the best way to structure our organization for long-term success?
How Medallion Partners Can Help Your Organization
Organizational strategy — and strategic planning — can be a duanting and difficult task. After all, thefuture of your company relies heavily on your ogranization strategy. Instead of leaving it to chance, or going at it alone, future-proof your company with the help of Medallion Parnters.
For years, we’ve been using our expertise and passion for strategy and development to empower organizations like yours. At Medallion Partners, we don’t believe in a one-size-fits-all approach. Instead we work with you to create a tailor-made, custom plan to help you make the best decisions for your company’s long-term health.
So why wait? Let us help you achieve success!Contact us today to get startedand experience the Medallion Partners difference.
