A clear and focused strategy is imperative for every business as it helps them create, monitor and measure their success. Dynamic business environment coupled with globalisation and rapid technological innovations have added to the vulnerabilities faced by the companies. In such a fluid scenario, strategic planning plays a fundamental role in the success and sustainability of businesses.
Tata Business Excellence Group (TBExG) supports Tata group companies in various facets of Strategy through:
- Deep Dive Study on the Quality of Strategy including Strategy Planning Process
- Strategy Implementation
- Enterprise Risk Management
- Develop Vision-Mission-Values
- Competitive Intelligence
- Corporate Foresight
Deep Dive Study on the Quality of Strategy including Strategic Planning Process
TBExG helps companies assess Strategic Planning from the perspectives of the approach towards Strategic Planning, diagnostics of business environment, coherence in the entire strategic plan and implement-ability of strategic choices.
Strategy Planning is the first step on the journey to achieve vision; however, the real test of Strategy is how well it is implemented. TBExG supports companies to translate their Strategy into action plans and creates a tracking system.
The methods – Balanced Scorecard (BSC) and Strategy Deployment Matrix (SDM) – ensure alignment down the line to the key responsibility areas and effective implementation of strategic priorities.
Enterprise Risk Management
Businesses that continuously keep a check on the risks have a better chance of survival in a fluid environment. TBExG provides hand holding support and develops Enterprise Risk Management frameworks for companies.
Vision-Mission-Values (VMV) is one of the widely used management tools by companies globally. TBExG works with companies and conducts leadership workshops to finalise / revisit their VMV. This gives an opportunity for the Tata companies to align with the group’s vision (Vision 2025).
TBExG’s Competitive Intelligence (CI) programme prepares Tata companies to face competition in their areas of operations. A framework called Know your Competition has been created to help identify competition and learn and share best practices of some of the large companies within the Tata group.
TBExG also provides access to the tools and techniques from SCIP (Strategy and Competitive Intelligence Professionals) which include practices across different industries and geographies. The Strategy team at TBExG handholds the companies and helps them understand the lacunae in their CI processes and overcome them by creating processes.
Corporate foresight enables companies to anticipate disruptive changes, decipher their consequences and devise effective responses to ensure success and long-term survival of the company. TBExG helps companies assess their organisational preparedness in terms of Corporate Foresight capabilities. TBExG assesses the current level of organisational preparedness and also conducts workshops with CXOs to introduce the concepts of Corporate Foresight.