By M. Isi Eromosele

Strategy states guidance. The goal is to sway the actions of competitors and the developments in the marketplace to the advantage of a company. As such, a company’s strategy statement should include an explanation of the new competitive environment that would be created by the company’s when the new strategy is implemented, the changed relationships that will be engendered and the reason for the action.

The design of strategic planning communicates the methods of implementing stated actions. A well designed strategic plan states the order and schedule of when activities will be implemented that will change the competitive landscape for the company.

The strategy and designing the strategy plan are two divergent things. In theory, the strategy could be exceptional, but the order and scheduling for the activities within the plan may be out of synch. This would result in the implementation of a valueless plan.

Designing a strategic plan considers the relationship a company has with its marketplace environment. Theoretically, the company observes its marketplace environment, includes the changes observed within the environment into its decision making and then designs new strategies as counter points.

A well designed strategic plan identifies a company’s business objectives and develops appropriate plans to implement them. The following actions should also be taken to corroborate the strategy plan:

• The company is modeled into pertinent business units that will serve specific markets and segmented customers, while identifying competitors and other external obstacles to the company. These business units are allocated specific functions within the corporate plan and are considered to be semi-autonomous administratively.
• Each unit is expected to conduct intensive research that would result in the development of new products that would enhance their competitive advantage in their respective markets. The company offers strong corporate support to its business units by providing them with relevant data that helps them to advance their respective business agendas.
• Corporate level develops the capability to assess competitive requests form the respective business units within the corporate umbrella. These assessments are conducted wholesomely based on the scale of risk and reward
• The company matches short-term business objectives for the business units with the long-term future corporate objectives of the company

If a company aspires to become a leading force in its market, its philosophy, its management style and focus will need to change. The medium for that change is the design of a strong strategic plan that employs elements of business design concepts.

When companies envision ways to improve their operations through the design of a strong strategic plan, they need to decide on what kind of performing company they want to be. The expression of such a key and straightforward business goal gives the company a sense of direction with a structural point of reference.

Setting of goals and assessing its mix of business units is simply the first part to be considered in designing a strategic plan. The plan would need to be designed with specific goals towards making its tenets a new way of life within the company.

The design of a business strategic plan is affected by many external events outside the confines of a company. These include worldwide economic forces, strong global competition, government regulations, the money markets and consumer purchasing behaviors, among others.

Companies need to adapt their corporate decisions to the ever changing events within their marketplaces in odder to be successful in achieving their long-term business objectives.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

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