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Strategic Fit is Like a Tailor Made Suit
Schoenborn, Management Consultant, Germany
With regard to the definition of the term “strategic fit” there is a great array of various articles, etc. As a common sense, strategic fit can be viewed as a tailor made suit: it is highly company specific and is therefore not eligible to be transferred from one company to another even within the same industry.
This is because a strategic fit consists of the components:
- Choice and application of a strategy paradigm (for each division)
- Corresponding strategy approach
- Strategy content
- Derived strategy measures
- Identification of corresponding success factors (internal & external)
- Execution
- Corresponding strategy controlling which implies specific KPIs and monitoring of success factors
Strategic fit is the pinnacle of hard, strategic work and is not carved in stone! Markets are subject of continuous changes which affect the strategic fit, therefore strategy work requires constant monitoring and incremental adjustments. The “corner stone” - at least in my opinion - is therefore an effective strategy controlling process which ensures strategy conformity of measures and topicality of strategic goals.
I would be happy if someone in our group could provide a strategy controlling process for further discussion.
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Strategic Fit, Resources and Subjective FactorsWilfredo E. Taveras C., Financial Consultant, Dominican Republic I would like to add some ideas in my mind to the great comments of Mr. Schoenborn.
Strategic fit is also about the amount of resources you have available to pursue certain previously defined goals life-long across the plan. Which at some point will lead us to the question: will it be viable?
And when it comes to the Identification of success factors (internal and external), it's also important to discard those subjective success factors that commonly emerge when analyzing external and internal factors while keeping those that are certain to have a favorable impact on the plan as a whole.
At this point a mathematical SWOT analysis can make the difference. |
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