Corporate & Business Strategy
Strategy is simply a high-level plan or direction for an organization. The strategizing or strategy formulation is all about selecting the organization direction or selecting what to do.
The strategic planning is done in two parts which are corporate strategy and business strategy. Corporate strategy (also called organizational strategy) focuses on what to do? or what business to invest in based on the organization mission and vision. The business strategy focuses on the how part; how are we going to achieve the corporate strategy?
One of the effective and widely used approaches used to formulate the strategy is the balanced scorecard which is an integrated framework for strategic planning and performance management. Based on the organizational assessment, we at Bakkah can support you in strategy formulation and implementation activities including:
- Developing Vision, Mission and Values
- Developing Strategic Themes/Pillars and Results
- Developing Strategic Objectives and Strategy Map
- Developing Performance Measures (Strategic KPIs & Targets)
- Proposing Strategic Initiatives
- Developing the Balanced Scorecard Framework
- Developing Transformation Roadmap & Prioritization
- Performing Strategy Alignment & Cascading
- Developing Business Strategies and Plans
We at Bakkah have the experience corporate and business strategy formulation and implementation, our experts are certified in strategy and performance management and can add value to your organization.
The key benefits of corporate and business strategy are:
- Create a clear direction for the organization.
- Provide systematic approach to planning.
- Keep the organization focus.
- Allows organizations to be proactive.
- Increases business efficiency.
- Easy to communicate to related stakeholders.
- Allows for continuous evaluation and improvements.