When I’m discussing the complex, multi-faceted problem of business strategy development and deployment with my information engineering students, I have found it useful to have them think of the problem as a sequence of five discrete steps.
I define the steps this way:
- The strategic management problem – How do you create (or formulate) a business strategy?
- The organizational leadership problem – How do you communicate the business strategy throughout the organization and gain commitment?
- The operational management problem – How do you successfully execute the business strategy?
- The strategic analysis problem – What information sources and analytical frameworks are useful in evaluating results and improving both strategy and execution?
- The information engineering problem – What tools, technologies, and techniques can most effectively facilitate the creation, communication, execution, and evaluation of the business strategy?