Monitoring Progress

Strategy is about the future, and despite your best attempts to analyze what might happen, you don't have any certainty that the future will be as you have predicted.

You have been through the process: you've analyzed yourself, the environment, and the market; you've assessed your options and planned your approach; and you've started to implement your strategic plan. You will not know the final outcome for three to five years -- are you going to wait that long to see if you are on the right track?

Strategy is about the future, and despite your best attempts to analyze what might happen, you don't have any certainty that the future will be as you have predicted. There are likely to be changes to the environment (such as economic issues or new technology) and to the market - new competitors or products could remove your market, for example.

You may also have unexpected internal issues in your organization. It is crucial, therefore, that you monitor your progress, by setting targets to be achieved and milestones that must be passed, if you are to ensure that your strategy remains on course to deliver the desired outcome.

ACTION POINT: Understand strategy change requires time and the monitoring of progress to ensure you stay on course.