What is a strategy? A strategy is a framework developed to attain a long-term goal.

It involves highlighting objectives, evaluating opportunities and challenges, and deciding the ideal course of action to achieve desired results.

What is strategy reporting? For a strategy to be documented, a specific framework is followed.

This brings an understanding to both the consultants and the clients, hence it is the process of documenting and communicating the progress, results, and future plans related to an organisation’s strategic goals.

Features of a strategy report

These are the components that a strategy document captures:

Vision and Mission

The document shall highlight the client’s current vision and mission and analyse them based on their needs.

Business model

The document will also capture the framework of the client’s model of how they generate revenue.

The consultants will provide insights into the current business model, giving clarity and developing the model.

Strategic goals

Overarching objectives that an organization aims to achieve to fulfill its mission and vision.

The document will outline the agreed and advised strategy goals formulated through specialized expertise, objective insights, and actionable solutions.

Action plans

These are the step-by-step strategies designed to achieve specific goals within a defined timeframe.

The report ensures that these action plans are pegged from the strategic goals developed. These action plans ensure the organisation aligns with the broader strategic goals and organisational mission.

Monitoring & Evaluation framework

This involves a plan tracking the progress of the strategies to be implemented.

The document relies on metrics that guide the consultants to know the progress for the initiatives to be executed diligently and provide solutions for any challenges encountered during the period.

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Framework for strategy reporting

PEST Analysis: a consultant will look at the external factors affecting the client’s business. These factors will then be used to determine the appropriate strategy to develop with respect to the CSFs (Critical Success Factors). It includes the following:

Political: what are the regulatory standards prevailing in the ecosystem that may affect the business?

Economical: what is the economic condition that is present in the market? Is there a risk of the inflation rate, exchange rates, unemployment levels, and growth?

Social: what are the demographics present? Factors like population growth, age, lifestyle, and culture.

Technological: what effects does technology have in the business and what effect will it have on the business once we adopt it?

Porter’s five forces: this is a framework developed by Michael E. Porter that consultants use to analyse the competitive environment. It includes:

Threat of new entrants: will there be an effect on our market share if a new competitor ventures into the market?

Threat of substitute goods: what are the chances that we will still maintain our customer base when a substitute good is introduced to the market? How are we currently maintaining our customer base despite the availability of a substitute good?

Competitors: how are we differentiating from our existing competitors? What impact do we have against our rivalries?

Bargaining power of suppliers: are the suppliers delivering products to us congested in the market or few in the market?

Bargaining power of buyers: are our products or services on demand by the target market?

SWOT analysis: This one focuses on an internal and external basis of the company by the consultant. It includes:

Strength: what are the attributes and resources that make us have an advantage over our competitors?

Weaknesses: Are there internal processes that may disadvantage us relative to our competitors?

Opportunities: What external factors can we leverage?

Threats: What factors in the external environment can have gruesome or damaging effects on our company?

BCG growth: This was developed by the Boston Consulting Group and helps consultants in giving the best possible direction on what products a company can leverage, they include:

• Dogs: these are products with low market share and low growth potential.
• Cash cows: these products have a low growth but high market share.
• Stars: these products have a high growth potential and high market share.
• Question marks: these products have a high growth potential but a low market share.

The 3C’s: It was developed by Kenichi Ohmae and analyses three key elements critical to business success. They include:

• Company: this is where we look at the company internally, evaluating its internal factors critically.
• Customers: an understanding of the customer to determine the ideal product to offer to them.
• Competitors: here, we look at the competitors, including direct and indirect competitors.

In conclusion, every consultant follows a framework which may not be an exact step-by-step universal process, but they all provide the same insights which are based on the business models, structures, and processes present to ensure that the output of the consulting service is met, based on the needs of the client.

Mr. Dennis Shina is a Business Analyst at WYLDE International. You may connect with Dennis via email: [email protected]