by   |    |  Estimated reading time: 2 minutes  |  in Strategy

StrategyThe problem with strategy is that none of us can predict the future. We all have aims and objectives for our businesses, but how do we translate those into long-term strategic objectives that we can reach?

A common reason for changing business solutions is that the business has outgrown its existing solution and its strategic objectives can no longer be supported by the existing business management tools.

One of the first questions that need to be asked at this point is – if changes are needed to support strategic growth, then what is the business strategy that we’re tasked with supporting? Too often project teams don’t have a strong enough understanding of what the strategy is and what the intended implications of that strategy are.

If we put all of the systems aside for a moment, the whole point of strategy is to provide a high-level overview of how to achieve your business objectives. This by definition hints at the need to then progressively move into more and more detail (tactics, anyone?) so we can actually do something.

Thinking this through a little further, if we have progressively drilled into more and more details from our strategic objectives, down to our business processes, the bottom level should be able to be connected to some sort of measurement (number of work orders per day, travel time per service call, etc). If you do this then you have visibility of what is impacting the achievement of your objectives. If you know where the bottlenecks are, you can solve them.

To support this method of implementing and managing strategy, IFS provides Corporate Performance Management tools (IFS CPM). The IFS CPM solution (see PDF brochure) is currently being implemented at multiple customers, including Emirates.

Take a look at a worked example in Defense.

So how well are you achieving your business strategy right now?

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