Describe HOW your organization establishes its strategy and

Describe HOW your organization establishes its STRATEGIC OBJECTIVES, including

HOW you address your STRATEGIC CHALLENGES.

Summarize your organization’s KEY STRATEGIC OBJECTIVES and their related GOALS.

Within your response, include answers to the following questions:

2.1a. Strategy Development Process

(1) HOW does your organization conduct its strategic planning?

What are the KEY PROCESS steps?

Who are the KEY participants?

HOW does your PROCESS identify potential blind spots?

What are your short-term planning time horizons?

What are your longer-term planning time horizons?

HOW are these time horizons set?

HOW does your strategic planning PROCESS address these time horizons?

(2) HOW do you ensure that strategic planning addresses the KEY factors listed below?

• your organization’s strengths, weaknesses, opportunities, and threats

• early indications of major shifts in technology, markets, competition, or the regulatory environment

• long-term organizational SUSTAINABILITY and business continuity in emergencies

• your ability to execute the strategic plan

HOW do you collect relevant data and information pertaining to these factors [listed above] as part of your strategic planning PROCESS:

HOW do you ANALYZE relevant data and information pertaining to these factors as part of your strategic planning PROCESS:

2.1b. Strategic Objectives

(1) What are your KEY STRATEGIC OBJECTIVES?

What are your timetable for accomplishing them [STRATEGIC OBJECTIVES]?

What are your most important GOALS for these STRATEGIC OBJECTIVES?

(2) HOW do your STRATEGIC OBJECTIVES address the challenges identified in response to P.2 in your ORGANIZATIONAL PROFILE?

HOW do you ensure that your STRATEGIC OBJECTIVES balance short-term challenges?

HOW do you ensure that your STRATEGIC OBJECTIVES balance longer-term challenges?

HOW do you ensure that your STRATEGIC OBJECTIVES balance short-term opportunities?

HOW do you ensure that your STRATEGIC OBJECTIVES balance longer-term opportunities?

HOW do you ensure that your STRATEGIC OBJECTIVES balance the needs of all KEY STAKEHOLDERS?

Notes:

N1. “Strategy development” refers to your organization’s APPROACH (formal or informal) to preparing for the future. Strategy development might utilize various types of forecasts, projections, options, scenarios, or other APPROACHES to envisioning the future for PURPOSES of decision making and resource allocation. Strategy development might involve KEY suppliers, distributors, PARTNERS, and CUSTOMERS.

N2. “Strategy” should be interpreted broadly. Strategy might be built around or lead to any or all of the following: new products, services, and markets; revenue growth via various APPROACHES, including acquisitions; new PARTNERSHIPS and alliances; and new employee relationships. Strategy might be directed toward becoming a preferred supplier, a local supplier in each of your major CUSTOMERS’ markets, a low-cost producer, a market innovator, or a high-end or customized product or service provider.

N3. Your organization’s strengths, weaknesses, opportunities, and threats (2.1a[2]) should address all factors that are KEY to your organization’s future success, including the following, as appropriate: your CUSTOMER and market needs, expectations, and opportunities; your competitive environment and your capabilities relative to competitors and comparable organizations; your product life cycle; technological and other KEY INNOVATIONS or changes that might affect your products and services and HOW you operate, as well as the rate of that INNOVATION; your human and other resource needs; your opportunities to redirect resources to higher priority products, services, or areas; financial, societal, ethical, regulatory, technological, and other potential risks; changes in the national or global economy; PARTNER and supply chain needs, strengths, and weaknesses; and other factors unique to your organization.

N4. Your ability to execute the strategic plan (2.1a[2]) also should address your organizational agility based on contingency plans or if circumstances require a shift in plans and rapid execution of new or changed plans.

N5. STRATEGIC OBJECTIVES that address KEY challenges (2.1b[2]) might include rapid response, customization, co-location with major CUSTOMERS, specific joint ventures, Lean or Virtual Manufacturing, rapid INNOVATION, ISO 9000:2000 registration, Web-based supplier and CUSTOMER relationship management, and product and service quality enhancements. Responses to Item 2.1 should focus on your specific CHALLENGES—those most important to your business success and to strengthening your organization’s overall PERFORMANCE.

N6. Item 2.1 addresses your overall organizational strategy, which might include changes in services, products, and product lines. However, the Item does not address product and service design; you should address these factors in Item 6.1, as appropriate.

For additional description, see 2.1 Strategy Development Description.

2005 ARTICULATED Item Links: 1.1 - 1.2 - 2.1 - 2.2 - 3.1 - 3.2 - 4.1 - 4.2 - 5.1 - 5.2 - 5.3 - 6.1 - 6.2 - 7.1 - 7.2 - 7.3 - 7.4 - 7.5 - 7.6 - P.1 - P.2