On a conceptual level, strategy offices are becoming commonplace in companies that believe in achieving success through strategic planning and implementation.
Strategic work, however, varies significantly depending on the objectives, sector and management culture of the company. Strategy is often interpreted in many ways, and its significance to interest groups depends on the viewpoint.
The key is to carry out the right operations at exactly the right time. Successfulness of decision making, and eliciting the participation of the employees are critical points that always concern companies.
Strategy office is a scouting post
Observing the business environment is a key aspect of strategizing.
According to studies, 65% of a company’s success is based on its ability to adapt to changes in the business environment and utilising the subsequently arising business opportunities.
While a strategy office is a fairly new concept and method in Finland, it has garnered plenty of interest. Strategy office facilitates the organisation of, e.g. the following operations:
- Communicating strategic work to employees and other key interest groups
- Measuring and evaluating strategy (e.g. KGI, strategic coherence analysis, strategic project, application and service portfolio analyses, value gap analyses)
- Planning and management of the strategy process
- Creating strategic partnerships
- Scenario work
- In-house support for management
- Strategic resource allocation
- Strategic risk management (current issues, e.g. geopolitical matters and market risks)
It is good practice to establish who the strategy office reports to, and how the organisation can provide information required by the strategy office.
