Overall strategic responsibility always lies with top management
Roles have to be clearly assigned
For integrated strategy development, roles have to be clearly defined. An independent strategic planning and controlling business process clarifies responsibilities.
Consequently strategy development is part of a transparent planning process.
For example:
- 3-5 strategic initiatives are assigned for a specific deadline, developed for six months and then presented and approved in a meeting with senior management.
The basis of these strategic initiatives is a clear and professional project management.
The aim is not to democratize strategic work. The strategic decisions are always the responsibility of senior management, but are based on broadly agreed foundations.
In certain cases decisions have to be developed by senior management autonomously
In exceptional cases due to non-disclosure agreements, strategic decisions cannot be developed on a wide basis, but have to be developed and decided autonomously by senior management. Examples of such exceptional situations are acquisitions, carve-outs or restructuring.