Strategy

The development of strategy is a never-ending process, but periodically a plan must be divined from your work-in-progress so that the organization has a plan upon which to act. While this might feel like the end of strategy and the beginning of execution, the reality is that neither has finite end-points. A good plan is a living, breathing document, subject to continual change, yet it must be sufficient at any point to enable action. To develop a solid strategic plan that is ready for execution, we apply a number of different tools.

BMGI’s Approach to Strategy Planning and Implementation

There are many approaches to planning & implementation and which one we would recommend depends on what our clients seek to learn. The most basic strategic analysis has been used by businesses for decades-the SWOT Analysis. Recommended approach by BMGI includes-

Prepare stage decides the protocols of strategy planning. It brings the important shareholders together to instigate focused discussions to understand current performance of the firm and the long term direction of the firm. Once that is decided the process of strategy formation starts- BMGI acts as a crucial enabler in formulation of strategy. Many strategic options are evaluated again rigorous models to find out the pros, cons and feasibility of any plan. When the strategic plan is finally concretized, BMGI supports them in the most crucial part- execution. Primary tools used for deployment and monitoring of plan are Balanced Scorecard and Hoshin Kanri approach.

BMGI has experience in strategy planning and strategy deployment in following areas

• Organic growth strategy - Organic growth is slow but continuous. It comes with strong foundation which makes the company sustainable. Few companies survive the organic growth route, but those who manage to do it, becomes a leader in its industry
• Business unit strategy - Each business unit needs its own strategy that ensures economic growth as a unit as well as a whole organization
• Corporate strategy - Corporate strategy decides the direction that whole company would take. Careful consideration of industry and core competencies are needed to commit to a direction and faithfully follow it
• Emerging markets strategy - With the third world set to become the dominant economic force, it becomes important for every company to have a strategy for the economy that is clocking double digit growth
• Sustainable growth strategy - When future is uncertain and full of cautions, it is important to choose your business strategy that smoothly navigates the future and creates a safe place for its own

• Hoshin Kanri Approach - Hoshin Deployment is a tool used to facilitate the creation of business processes that result in a sustained competitive advantage
• Balanced Scorecard Approach - BSC translates an organization’s vision and strategy into a comprehensive set of performance measures

BMGI’s Strategy team will work with you to design and implement a strategic approach to drive growth in your organization. To speak with one of our experts, call BMGI.