The impact of having effective Strategy and Performance Management systems

Yolanda Chimonyo / Posted On: 20 May 2021 / Updated On: 25 March 2022 / Organisational Design and Development / 2

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The impact of having effective Strategy and Performance Management systems

What is strategy?

According to the Oxford dictionary, strategy is, 'A plan of action designed to achieve a long-term or overall aim.' If a business aims to have longevity, it is important for those charged with management of the business to determine in what direction the business plans to move in the long term considering all of the business stakeholders. Simply put, two images exist, the current state of the business and a desired future state. The strategy maps out how the management team plans to get the business from the current state to the desired state.

 

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