Strategy management involves managing both the development and execution of a strategy. Many organizations separate strategy development and strategy execution and focus on strategy development instead of strategy execution, but in reality, to grow successfully, organizations need to successfully execute strategy.
The Wizly Strategy Management Solution encompasses the complete cycle of Strategy Management which includes, Strategy formulation, Planning, Implementation, & Review. The solution takes away the complexities of Strategy Execution and enables its communication within the Organization.
The Wizly Strategy Management solution is based on the PRISE© Methodology, a best practice methodology for Strategy Execution. PRISE© integrates Processes, Risks, Initiatives and Strategy to ensure successful Strategy Execution.
The methodology provides a replicable roadmap to Strategy Execution, and takes us from the “What to the How”. It addresses the pitfalls of having different Management Frameworks run in silos, independent of each other and it provides a holistic view of all management information enabling better decisions.
The Wizly 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 Wizly 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 Wizly 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.