A strategy is a plan of victories. Whether or not they will be achieved depends on plan elaboration quality and proper use of new management technologies. With development being a continuous process, we also regard strategy as a process.
Most companies have a strategy.
It may be incorporated into a multipage document or may exist in a businessman's head.
On the one hand, it is obvious that creating an absolutely correct and fundamental "document - a guide to success" is impossible in today's rapidly changing world.
On the other hand, absence of plans fixed on paper may result in unconstructive inconsistency, to "mess and lurches".
Each company chooses its own way itself. Success of a strategy is largely determined by qualities of people creating and implementing it, by their industry experience, expertise, courage and ability to manage.
If we add modern strategic management technologies to the said advantages, success is virtually inevitable.
Immeasurable things cannot be managed. In setting financial objectives we realize that their achievement depends on fulfillment of a series of conditions, a number of factors. You can try to measure these factors and to make out what circumstances influence them.
Development of these simple reasoning resulted in creation of a so-called Balanced Scorecard, which has been used by the most advanced companies since the 1990's to implement their strategies. It relies on a chain of cause-effect relations between both financial and non-financial factors that determine business development:
As part of cooperation in implementing the Balanced Scorecard, we elaborate strategic indicators and hypotheses of cause-and-effect relations among them, consolidate these data into the Balanced Scorecard, suggest possible values of strategic indicators, draw up an action plan for the Balanced Scorecard Implementation and achievement of established values of strategic indicators, develop and help implement new organization models.