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FTM Business Template - Health Check Strategy

FTM Business Template - Health Check Strategy

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Published by SofTools Limited

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Published by: SofTools Limited on Jul 10, 2009
Copyright:Traditional Copyright: All rights reserved


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© SofTools, 2009. For more information on related products and services, visitwww.Fast-Track-Me.com or contact us at:info@Fast-Track-Me.com 
HealthCheck Strategy
Business Template
What is a HealthCheck?
The Strategy HealthCheck template provides astructured method for assessing the current statusof the Strategy area of your business based onindustry best practices.
Why is it relevant?
As industries become more competitive survival isabout doing more with less whilst still deliveringagainst customer expectations at a level thatexceeds the competition. To achieve this you need
to: 1) understand what ‘best practice’ looks
like, and2) understand your current performance
ideallyagainst the competition.
Who needs to be involved?
The HealthCheck is completed by all those that areresponsible for performance in this particular area of the business, but ensure you seek the views of allthose involved
even if you do not agree with them.Stakeholders may mainly be internal to the business,but ensure that you get an external perspectiveinvolving the views of key customers and suppliers.
When should you use it?
Make the use of HealthChecks part of your annualreview of the critical areas of your business.However, ensure that your improvement actions areplanned and monitored on a more regular(quarterly) basis. Note that for some teams, theHealthCheck will also form part of an external auditor compliance process driven by customers orindustry regulators.
How should you implement it?
Plan the HealthCheck carefully and ensure that youget the right people involved early in the process.Gather information through face-to-face interviewswhere possible, although electronic checklists canenable you to involve a larger group. Gatherevidence of performance as you go. Thenconsolidate the various views and look for areas of inconsistency across different stakeholders, andassess areas of concern. Finally, develop a clearaction plan with ownership and timings for getting togreen or for improving the score on an individualitem.
© SofTools, 2009. For more information on related products and services, visitwww.Fast-Track-Me.com or contact us at:info@Fast-Track-Me.com 
HealthCheck Strategy
This is a case example based on a fictitious company called TVT 
all the data is displayed for demonstration purposes only. For a detailed explanation of what each cell is used for please refer to the Virtual Consultant on the following pages.
ID Category Evaluation criteria
 Score StatusA
Strategic Priority Strategy is a strategic priority within the business, and the seniormanagement team shows active and visible commitment.2
StrategyExecutiveA member of the Executive team has responsibility for the effective andefficient introduction of strategy across the business.3
ManagercascadeStrategy KPIs are cascaded down through the organization so that allmanagers have strategy as part of their annual objectives.2
Strategic Focus
 Score StatusA
Clear extent &directionThe organization understands how important strategy is, and the extentand direction of strategy has been defined and agreed.4
Customer Focus Strategy activities go beyond New Product Development (NPD), andembraces: new markets, process re-engineering, supply chain redesignand business transformation.4
IntegratedapproachThe business has a sustainable approach to strategy across ALL functions(beyond marketing) and teams, driven by the future needs of customermusts and wants.5
Internal Challenge
 Score StatusA
Central database New ideas arising from operations are captured and fed into a centraldecision making forum for review (by the Strategy Board).4
Time & budget There is sufficient time and budget allocated to the internal generation of new ideas within formal workshops and during day-to-day activities.3
Breakthrough Internal teams constantly seek ways of improving what they do and howthey do it, and achieving a breakthrough change in performance levels.4
© SofTools, 2009. For more information on related products and services, visitwww.Fast-Track-Me.com or contact us at:info@Fast-Track-Me.com 
External Challenge
 Score StatusA
Market &Customer TrendsChanges and discontinuities in the external environment and customermusts and wants are used to stimulate ideas for dramatic improvementin internal performance.4
CompetitorAnalysisMajor customers and competitors are understood, and their relativestrengths and weaknesses identified
providing a rich source of newideas that improve competitive performance.4
Scanning There is a systematic approach to scanning the external and competitiveenvironments and circulation of key insights, opportunities and threatsinternally across the business.5
Strategic Choice
 Score StatusA
The business has an effective an efficient ‘end to end’ stra
tegy process(from idea to implementation) that is understood by all teams.1
Aligned withgoalsStrategy projects are clearly aligned to strategic priorities in terms of highgrowth and high emphasis products and markets.2
EffectiveprioritisationThere is an effective screening and prioritisation process for ideas andstrategies based on more than gut feel or who shouts the loudest.2
Implementation Process
 Score StatusA
Best practice Best practice strategy techniques have been defined and adopted acrossthe business, and there is a Gating process where go / no go decisions aremade and communicated.3
Resources &budgetsSufficient resources and budget are allocated to strategy projects tomaximise the probability of success
implementation activities are notthrown on top of the day-job.2
Issues & riskmanagementIssues and risks are proactively identified, assessed and mitigated beforethey become crises.3
Support Systems
 Score StatusA
Full visibility &controlThe Senior Management Team has full visibility and control of theStrategy Process anywhere, anytime.1
Common tool set The system enables the consistent use of best practice techniques across 1

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