Wizsm Strategy Management Solution
Are you using Excel and PowerPoint to manage your strategy?
Research published in The Harvard Business Review states, “Companies realize only 40-to-60 percent of their strategies’ potential value”. Successful leaders understand that it takes much more than a great strategy, to build a great organization.
The Wizsm Strategy Management Solution encompasses the complete cycle of Strategy Management.
The Wizsm Strategy Management Solution enables Strategy Formulation by streamlining the process of selection of Strategic Objectives and alignment of the same to external factors such as the SWOT and PESTLE components. Alignment of the Strategy Objectives to operational elements such as Processes, IT Systems, Resources, Locations etc. can be carried out by building the Organizational DNA which identifies possible gaps and misalignment in the strategy.
The Wizsm Strategy Management Solution supports the planning phase by enabling breakdown and cascade of the chosen Strategic Objectives into KPI’s at the organizational and departmental level. Selection of Projects and Initiatives and their alignment to the Strategic Objectives is critical to achievement of targets. Identification of Risks related to Strategic Objectives, Initiatives or Projects provides a robust base to manage uncertainty and the challenges to the achievement of the strategy.
The Wizsm Strategy Management Solution ensures that the strategy is implemented by ensuring that each stakeholder is clearly aware of their performance measures, the targets and timelines for achieving the same. Data collection against the required performance measures can be collected automatically from the base systems or manually entered by the data owner, and then approved via workflows. Documentary evidence can be attached against each performance measure as required.
The Wizly Strategy Management Solution facilitates the review of the strategy by enabling the periodic meetings with highly visual, exception based reporting. In addition, the inbuilt contextual Insights Wizards, provide the management an opportunity to explore the Organizational DNA. This allows for Strategic Impact Analysis using cause and effect relations, and correlation between different elements of the organization, such as Objectives and Initiatives.
Workflows for KPI and Target Approvals
Import Historical Data from Excel
Distributed Data Collection
Integrate Data from Systems
Data Approval Workflows
Automated Exception Reports
Effectively Cascade Strategy
Ensure Strategic Alignment
Only 15% of organizations regularly compare business results with the performance forecast in its strategic plans.
Harvard Business Review, “Companies realize only 40-to-60 percent of their strategies’ potential value.”
The Wizsm Strategy Management Reporting Solution is built on Wizsm Performance and Wizsm Visivo and replaces manual strategy reporting on PowerPoint and Excel. Data can be entered manually using data entry workflows with multiple levels of approval, or integrated using Wizsm Integrator.
From selecting the Vision and Mission, to defining the Corporate Strategy, cascading the strategy to the divisions and departments and ensuring strategy alignment, the Wizsm Strategy Execution Solution seamlessly supports the entire process.
The solution offers flexibility to adopt standard management frameworks, such as Balanced Scorecards, EFQM, Risk Management, Business Model Canvas etc. or create and deploy the organization’s own custom Strategy Execution Framework.
SUCCESSFULLY EXECUTE YOUR STRATEGY
Less than 15% of companies make it a regular practice to go back and compare the business’s results with the performance forecast for each unit in its prior years’ strategic plans (HBR).
This may help explain why so many companies seem to pour good money after bad, continuing to fund losing strategies rather than searching for new and better options.
High-performing companies track performance results against plan, using continuous feedback and colloboration, to reset planning assumptions and reallocate resources. This allows management to spot and remedy flaws in the plan and shortfalls in execution.
Priorities are translated into action items with clearly defined accountabilities, timetables, and key performance indicators (KPIs).