It is often assumed that organisations ought to have a strategy. All sorts of really useful questions cannot be addressed satisfactorily until the “why?” is addressed, such as:
- What should be in it?
- Have we finished developing it?
- Is it fit for purpose?
So (as Simon Sinek says) – “start with the ‘why?’ ”. Why do we need a strategy? Who will use it and for what purpose?
There are many possible answers and generally it’s a mixture. But it is a useful exercise to consider which are the major aspects. The list below is a good starting point but you may need to add your own:
- Building the confidence of stakeholders
- Satisfying a regulator
- Providing sense of purpose and cultural alignment for the team
- Achieve consensus on steps to achieve some already agreed mission or vision
- Securing funds
- Defining success in general, or regarding a specific target
- Prioritising investments
- Guiding decision making
- Providing a basis for tracking progress