The strategy frameworks or best-known strategic frameworks are methods that businesses use for outlining plans in achieving future goals. It aimed to demonstrate how a department or business plans to use projects, and other initiatives to uphold the entire vision of stakeholders.
The power of strategic framework?
IT Strategy Framework is a structured method employed to define how an initiative or project supports the main objectives of stakeholders. There are 4 components to a strategic framework, namely:
- Approach. How to realize the achievement?
- Business objective. What will the initiative or project achieve?
- Measurement. How will achievement be reported and measured?
- Target. What is the projection enhancement that defines success?
To guarantee success, the IT strategic framework should be based on the business’ MVG which stands for Mission, Vision, and Goal. The mission explains the business’ purpose, and why the company exists. The vision describes what the business aspires to be. The goal statement articulates what needs to be achieved.
Then, it is where the strategic framework comes into the image. The strategic framework addresses how an initiative or project helps the company achieve its MVG.
The success of the initiative or the project doesn’t only rely on this. But, it needs support and buy-in from the key stakeholders.
Who are the key stakeholders of a strategic framework? They are the following:
- Teammates. These are the group of people whom you work with.
- Customers. These are the people who buy or use products or services produced by the company.
- The organization or business for whom you work.
The benefits of using the strategy
Additionally, answering your stakeholders and relating a project to a company’s MVG have some other benefits of creating a strategic framework. The natural result from the strategic framework is the beginning of the comprehensive communication plan.
What is a communication plan?
It is described as what messages are to be delivered. What audiences through what format or media at what interval of time. A strategic framework enabled the survivability of the project through management changes. Face it! A company’s management does change sometimes and new managers usually come in new roles with new thinking and new ideas.
Does this mean that the good project or idea you have is subject to cancellation? Frankly speaking, yes. The project will be scrutinized by the new managers. But, a well-defined strategic framework relates to the project outcome to achieve the company’s MVG.
Developing an IT strategic framework lets business-like conversations with senior leaders about how the initiative helps the company achieve the MVG. Of course, nobody would kick you out for having a well-thought and balanced discussion on how to assist the company be successful. With the strategic framework, you will be having a powerful tool for the success of your business.