â€œMany companies want to innovate their business model, and some even have to innovate their business model to survive, improve, or secure future growth. But before starting this work, you must ask yourself many questions about whether the company is ready for business model innovation. If this is to be successful and effective, it does not matter how you approach the task. And the level of maturity will have a great impact on how to handle the process.”
â€“ Professor (cand.oecon., PhD) in business models and performance measurement, Christian Nielsen.
What can it be used for?
Some of the most common pitfalls and reasons why strategy work often fails are:
- Lack of involvement of the organisation. We often see that the remainder of the organisation sees the focus areas quite differently than the management, board and external advisers do. Involvement and data on the organisation are essential to have in place and ensure the best possible starting point for working with strategy.
- Lack of measurement. If efforts are not measured along the way, you do not know whether you are on the right track or not, and you cannot take proper corrective actions during the process.
You can use the Strategic Maturity Assessment to:
- Creating measures before the strategic work begins leads to qualified inputs and fact-based data on the organisation that strengthens strategy workshops, strategy development, planning, etc.
- Improve follow-up on the plans and activities set in motion to realise the strategy. Measuring is not the same as controlling but should rather be done to energise and inspire
What does the company gain by using this assessment?
According to Harvard, 67% of new strategies are never executed. A massive 61% of managers are unprepared for the strategic challenges that lie in front of them, and 50-60% of managers fail within the first 18 months of being promoted or hired. There are several reasons for these poor numbers, but a major reason is “Organization Involvement & Alignment”. Data from over 1,100 Danish companies reveals that the difference between the companies that perform average and those that perform exceptionally well is due to a focus on strategic direction and an ability to implement and execute. Strategic maturity is not decisive for success – but to be able to make the right choices in your strategy work is. Further, knowing how strategically mature your organisation is, is precisely where most companies fall short. Measuring the organisation’s strategic maturity and its involvement in strategy processes ensures a stronger starting point for creating the strategy and subsequently executing plans and activities.
|The Strategic Maturity Assessment|
5 categories, 22 specific measurement points
Language: DK, UK, FR
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The expected implementation time is 20 minutes.
Possibility of expert assistance
In strategic maturity, you can be advised by a professor in business models and performance measurement. Christian Nielsen has developed the “Strategic Maturity Assessment” monitor. He holds several management positions and is an internationally renowned thought leader in business innovation. Therefore, he can inspire and challenge you and assist you if you want to use the Strategic Maturity Assessment tool in connection with a project.
The five focus areas in Strategic Maturity
- Think strategically: To what extent do you think on a strategic level in your company?
- Be sure to involve: To what extent do you involve the entire organisation in business and development processes?
- Be a doer: To what extent do you take the strategic thinking and analysis work out of the meeting room so that action is taken on behalf of all the good intentions?
- Be innovative: To what extent do you create innovative and creative solutions, and is this the case both among the employees, the management team, and the board?
- Be willing to change: To what extent are you ready for change and willing to change the way you do business, either incrementally or radically?