Gerry Johnson, Kevan Scholes and Richard Whittington., (2005), Exploring Corporate Strategy (7th Edition) Prentice Hall. (full electronic version)
This handbook is an interesting collection of different models and checklists of questions that need to be asked at a certain moment of the strategic process. Content wise you could argue that the strategic process consists out of three parts :
- The Strategic Position : This involves an environmental scan (PESTLE analysis), a decent internal analysis (SWOT), a stakeholder mapping and analysis to identify the different stakes, needs and expectations of all stakeholders (partners) of the organization.
- Strategic Choices : The organizational vision needs to transformend into strategic choices that maximize the chances for sustainable performance and sustainable further development of the business. A well known technique for that is the Confrontation Matrix, linking the external opportunities and challenges with the internal resources (strenghts and weaknesses) of the organization itself.
- Strategic Into Action : This is the part where you start shaping the organization in order to effectively implement the strategy and drive with that strategy actual business results and added value for all stakeholders (including aspects of Corporate Social Responsibility).
Since the strategic process is always the start of an organizational change process, involvement of all stakeholders from the very beginning (the analysis during the Strategic Position phase) is key. Not only because you need the expertise and experience of those stakeholders to gather all the information to enbale a valid internal and external analysis, but you also need the involvement of stakeholders during the process in order to build capacity, ownerhip, energy and accountability for the execution of the strategic choices during the 'into action' phase. Furthermore strategies are living things certainly in a fast changing business context. That means not only that the strategic reflection needs to be an ongoing process, but also that you need to build in different scenario's about how the context might evolve. A good strategic process uses scenario planning as part of the process.
A few more articles & tools for strategy formulation are listed below :
- Clement Leemans., Impact Through Involvement (not published Move! toolkit) with following tools : PESTLE analysis, Matrix Analyisis
- Kees van der Heijden, (2005). Scenarios. The Art of Strategic Conversation. New York, John Wiley.
- Morris & Baddache., (2012). Back to Basics. How to make stakeholder engagement meaningful for your company. BSR.
- Derrick Palmer & Soren Caplan., (no date). A Framework for Strategic Innovation. Innovationpoint.
- Mathew Fairholm., (2009). Leadership and Organizational Strategy. The Innovation Journal: The Public Sector Innovation Journal, Volume 14(1)
- Zafar, Butt & Afsal., (2014). Strategic Management. Managing Change by Employee Involvement. International Journal of Sciences : Basic & Applied Research.
- Beer, Michael. "The Strategic Fitness Process: A Collaborative Action Research Method for Developing Organizational Prototypes and Dynamic Capabilities." Journal of Organization Design 2, no. 1 (2013).