What it is

All successful companies regularly validate their strategies. They check if the assumptions about the market, the environment, competition, and customers continue to be true. They also confirm whether internal resources being deployed, and the manner in which the firm conducts its business are creating superior value for customers. And they adapt the firm’s strategy to internal and external realities.

The Corporate Strategy Office under the leadership of Chief Strategy Officer usually carries out periodic validation. It also assists in finding answers to new questions.

* What business should we be in given the new opportunities?
* Do we have what it takes to succeed in the new market place?
* What new resources or capabilities should we acquire?
* What lines of business should we exit? And so on.
At the India Small Scale Paint Association Biennial Conference in 2014

At the India Small Scale Paint Association Biennial Conference in 2014

Their work provides new insights to the CEO and the Board and helps them make astute and timely decisions.

Many companies, especially mid-sized firms, do not have a Corporate Strategy Office. The task of strategy validation is relegated to business managers and function heads. Often this does not work well.

Senior managers and the CEO are usually pressed for time owing to operational responsibilities. Their perspective is narrowed by ownership of and proximity to their businesses and functions. Paucity of time and natural bias – often inescapable – hobbles the firm’s attempt to adapt or reinvent strategy.

I provide advice, and hand holding to firms that wish to institute the Corporate Strategy Office. I work with a small team of the company’s managers – usually two – to enable the firm carry out strategy audit, and periodic validation. With my guidance, they collect information, analyse and interpret them, and produce insightful perspectives for the CEO and the Board. These reports spur discussion, new initiatives, and necessary changes in the business or corporate strategy.

The Corporate Strategy Office functions as the conscience keeper of strategy. No firm should do without one. Write to me to discuss how I can help.

 

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