Strategic management is a systems approach to executing the strategic plan. It guides all other management processes in a systematic, coherent, and effective approach. It is a continuous activity of assessing the strategic direction of the organization and its business, and making decisions on a day-to-day basis addressing changing circumstances. It requires continuous attention by senior management.

New Strategic Directions works with the senior leadership team to:

• Develop an integrated strategic management framework to actualize the organization’s mission, vision and goals.
• Identify strategic priorities and initiatives to achieve the goals.
• Focus attention across functional divisions and organizational levels on common themes and goals aligning everyone in the organization with the desired results.
• Identify Key Performance Indicators (KPI) and metrics to monitor progress and performance across the organization toward achieving the desired results.
• Align resources with strategic priorities and budget for results.
• Use data to support planning, budgeting and decision-making and revise strategies as needed.
• Monitor the internal and external environments through ongoing environmental scanning and analysis of trends.
• Develop and implement a performance managesystem in order to assess progress in achieving organizational goals and improve organizational effectiveness.
• Indentify and implement enterprise business intelligence system consistent with the organization’s information technology applications.
• Manage for results.

With practice the organizational learning that takes place through the application of Strategic Management will bring the organization closer to realizing its desired results. Strategic Management is a continuous process rather than a one-time event.  Therefore, the senior leaders must become strategic thinkers  and leaders of the organization and its culture, changing it as necessary.

See also: Strategic Thinking, Strategic Planning, Strategic Leadership, Strategic Communications

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Enterprise performance management

“If your measurements are out- of- wack, everything else will be as well.”                                   Dean Spitzer – Transforming Performance Measurement (2007)

High performing organizations measure their progress and performance across the organization toward achievement of the organizations strategic goals and objectives beginning with a clear vision of what success looks like based on shared mission, vision and values for the organization as a whole.  An effective performance management system translates data into information.  It  makes it possible to collect, analyze and access information on a timely basis, ensuring that the right people, get the right information, at the right time to improve decision-making, planning and budgeting across the entire organization.  If strategy is the heart of high-performing organizations, measurement is the backbone.

Measurement:

• Directs behavior
• Focuses attention
• Clarifies expectations
• Enables accountability
• Increases objectivity
• Improves [strategy] execution
• Promotes consistency
• Facilitates feedback
• Increases alignment
• Improves decision-making
• Provides early warning signals
• Enhances understanding, and
• Motivates                                                                                                                               Dean Spitzer

New Strategic Directions works with organizations to:

• Identify key performance indicators and metrics that drive the above.
• Develop an enterprise performance management system using appropriate technology.
• Translate data into information for decsion-making, planning and budgeting
• Use information to manage.