Sector: Financial sector
Area of expertise: Cascading strategy
The organisation had launched a new corporate strategy, which required the newly established management team, to further cascade the strategy into relatable and relevant goals and objectives in their respective remits.
WHAT WE DID
Kopenhagen Konsulting guided the management team through a wide range of activities to aid the development of their specific interpretations of the overarching strategy. This was achieved through a 3-5 months plan, through which the team developed; a comprehensive stakeholder map, formulated the strategic direction, outlined immediate objectives, decided on key activities for the coming years, estimated the organisational requirements and finally defined a range of KPIs to measure their degree of success.
Stakeholder landscapes had not previously been outlined for the sub-units, but were crucial to ensure that the right stakeholders were informed and consulted in the further interpretation of the corporate strategy. The stakeholder landscapes were outlined through workshops and dedicated one-to-one sessions with everyone in the management team.
The strategic direction, aspiration, mission and objectives, were defined for the overarching unit through a range of workshops and discussions in the management team. Followed by the individual sub-unit leaders’ further cascading the strategic direction to their respective units.
Final step conducted in this strategy development was the definition of KPIs defined to measure and manage the unit. Definition of KPIs resulted in revisiting both strategic direction and prioritised activities due to the lack of prioritised projects for multiple important KPIs – it is important to emphasise that revisiting the different areas is important for the overall strategy development process and not something that should be disregarded.
The full combination of the overarching unit strategies and sub-unit strategies was presented by the combined management team with great success and approval from all stakeholders – most importantly all individuals within the overarching unit.