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Developing a strategy for world class business.

Article Excerpt
Introduction

This checklist provides an introductory framework for managers whose companies wish to pursue the route to world class status. The responsibility for a world class strategy usually rests with the chief executive and senior management.

Becoming a world class company is not a simple process, and requires effort and commitment from the entire organisation. Developing a strategy for action is essential if world class status is to be achieved.

National Occupational Standards for Management and Leadership

This checklist has relevance to the following standards: F: Achieving results, units 3, 9, 10 and 12

Definition

'World class' is a concept that is difficult to define. However, an accepted working definition is that a world class company should be able to compete with any other organisation in its chosen markets and that it aspires to world-beating standards in everything it does, in every department or division. 'World class' also embraces the practice of (and excellence in) techniques such as total quality management continuous improvement, customer service, international benchmarking, flexible working and training. 'World class' organisations also accept the necessity for continuous change.

Action checklist

1. Consider outside influences

Identify the factors in the external environment which call for a strategic response from your business. These can be grouped under main headings such as: economic...

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