Industry Partners Australia is a relatively small business with big ideas for the future! We want the flexibility of a small business but try and utilise some of the tools we have picked up in our previous corporate experiences.
We have recently completed our business strategy for 2022 and are now in the implementation phase; however, more importantly, we are about to embark on a 3-year plan to take us out to 2025. Many would ask, why spend valuable time on this when we are in such a volatile environment, especially for a small or medium-sized business?
For me, the answer is clear:
- There is never a time in small to medium size businesses when it isn’t volatile
- Nothing is achieved unless targeted and measured
- It creates excitement in the future and engagement
We are utilising our own IPA business, and project strategy model developed over time from previous experiences and now captured as part of our Evolve2 Leadership Program. The unique element of the model is the ability to utilise it as a tool for high-level business strategy development or simply as a powerful project management tool.
The model intends to:
- Capture goals and innovation
- Ensure communication of our plans to all levels of the business
- Keep everyone focused on the overall prize
- Create open dialogue
- Hold departments and people accountable
- Ensure visibility
The fundamental elements the model relies on are:
- Creating the vision, scope & value proposition
- Understanding the current state
- Developing strategies through a ‘balanced scorecard’ approach
- Creating a communication plan
- Developing SMART objectives
- Taking actions
- Putting in place sustainability models
These elements create a clear line of sight from the vision to implementation and are underpinned with a Hoshin Kanri style model, ensuring buy-in from everyone in the business.
The model has had massive success outside of our own business and influenced senior leaders on the importance of creating strategies and giving them an easy tool to achieve their goals.
Please reach out if you are interested in finding out more.
Gary Silversides
CEO
IPA Topic: Business & Strategy
