The Strategy Audit
What is the Strategy Audit?
A compact process through which potential shortfalls in your strategy can be identified and addressed. It does not answer the question “Do you have the right strategy?”, but rather assuming that you do, addresses the issue of “Why is your strategy not providing the full value you anticipated?”, examining the full cycle of strategy planning, communication, implementation, and monitoring.
What is involved?
Over the course of five days (can be longer if required) a series of meetings and interviews with Board Members, Executives, Execution Leaders, Planning Team Members, and selectively regular employees are conducted. They are supplemented by surveys to a broader set of stakeholders and detailed reviews of agreed upon documents. At the conclusion of the audit the organization’s leader is presented with the essential findings on strengths and weaknesses in the current strategy process and recommendations for enhancements.
Condensing the Strategy Audit into five days requires adequate preparation and scheduling which should commence 4-6 weeks prior to the actual audit.
Why call it an “Audit”?
Most organizations are very familiar with Financial Audits, or Risk and Regulatory Audits. Yet, very few independent processes exist to review the strategy process in a similar systematic way. The Audit term also suggests a degree of independence. The goal of the assessment is not to sell a much larger consulting engagement. It is to enable management to address key weaknesses. If desired, referrals to external resources who can assist in this process can be provided.
Why do we need an outside party to conduct the Audit?
The audit process is not a secret, in fact we are working on a detailed documentation of all the tools and questions being utilized. Transparency is key. The role of Mystrategysource is the following; (1) ensure full and transparent disclosure, (2) utilize a broader set of reference points to gauge effectiveness of the existing process, and (3) point to proven alternatives or supplemental processes to enhance current practices.
Why work with Mystrategysource?
The truly independent Strategy Audit is a process that was developed by Mystrategysource. Many consulting firms can provide “assessments”, but their objective is not always a true 360 degree assessment, but rather the identification of consulting opportunities on the backend.