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Strategy Management in Action
White Paper by Vecker Institute
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May 2009 |
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Abstract
Strategy management is the process used to manage the execution of a strategy in a business. As a strategy is developed, the business sets out a program of actions, operations, and responsibilities to execute the strategy and achieve its goals. The strategy management process drives this program, defining what must be done, monitoring activities and results, assessing progress, and identifying where changes must be made to the activities or the strategy.
Clearly, for the process to be effective, it must be broad enought to capture all of the activities related to strategy execution, structured to generate the information that provides a clear picture of what is happening, anc capable of providing the practical insights and assessments that the Board and management can use to keep the strategy on track. The process must be tied directly to the business's reality, reflect its marketplace and operating environment, and lead to actions that move the business toward meeting its goals.
This white paper discusses a strategy management process that meets these needs.
This white paper was writtend by Thomas Cowan and the thought leaders at the Vecker Institute, which provides business executives and Board members with the practical tools and applications they need to build great companies and to carry out effective governance of the business.