Strategy Planning and Implementation: Week 8

Strategy Innovation

Learn
The Mapping Phase is the final step in the Discovery Process. This phase involves the creation of a strategic road map for the company. The strategic road map lay out a time line into the future that contains important activities or milestone that must take place for the business opportunity to succeed. With the generation of new business opportunities and a strategic road map, the Discovery Team would present it to senior management for their consideration.

Unlearn
The time line into the future may not necessary be 5 years as I would have thought. The customization of time line should be segmented by the relevant planning periods for operating in that industry. For highly dynamic industries such as electronics, the relevant time segments are probably in quarter years, if not months. In biotechnology, it will be years or perhaps decades. Having said that for many businesses, six month intervals that stretch out over three to five years will often be appropriate time line for the strategic road map.