Translation Stage - Strategic Management Process

The first step in successfully managing the strategic process is to define the marketing strategy that distinguishes the company from its competitors in the market. The first step is very important, and should provide the company's path to greater growth and profitability. However, this is only the first step. To be effective, market strategy must be included in the company. Incorporated into the next phase of the strategic process, the translation stage is intended to cover at least part of this requirement.

Translation stage is to make the new market strategy for the policies and procedures that will cause the company to do business differently on the basis of its new market strategy. Otherwise, the benefit of the hard work that went into the definition phase, is likely to be lost. Oddly, many companies forget or ignore almost completely the translation stage. This is a serious strategic mistake, and it raises the companies' lack of its competitors in order to better internalize and transferred to-market strategies.

Translation stage has a number of key components, which can be viewed as the physical documents that should be ready during the translation phase.

* Mission. The mission should be the objectives that the company has set its new market strategy. It should be clear that the activities to be carried out and the market value of claims that will be offered to customers, suppliers, employees and investors. In addition to the activities to be carried out, the mission should include activities that will be made. Too many times the company will continue to do business, which is incompatible with their market strategies. It just takes away from the effects of the strategy.
* Document on Culture. Culture determines the values of the type that the company wants to encourage, reward, retain and acquire. Corporate culture should support its mission, and it will affect a wide range of domestic policies. For example, if a company wishes to culture, values, cooperation and its compensation methods should not reward individual performance. Again, as in the mission, allowing cultural exemptions will result in the desired culture of losing credibility with stakeholders.
* Organizational structure. There are always three elements that must be balanced with any organization structure. They have customers (or markets), product (or function) and geography (or locations). All three elements should be represented in any organizational structure, but it is three, which is a top priority. With the priority element is usually a continuous line of responsibility and are responsible for P & L management. Element, which is usually ranked second dotted line responsibility and provides a check and balance in a continuous line of authority that is granted with a priority item. Element, which is the number three is usually a coordinating role, or a sub-element of one of the two other elements with higher priority. Just state clearly if, for example, the company's market strategy is based on trying to distinguish between the products offered, the priority of its organizational structure should be applied to products.
* Items. All communication, both internal and exte
al, should be rewritten to emphasize the company's market strategy. Many times, it is advisable to have all communications approved by the Central Coordination Group to ensure consistency with market strategy.

To be effective, market strategy must be included in the "Fabric" companies. Translation stage of strategic management process is critical to internalization. Many companies ignore the work on the translation stage, and thus never fully payoff of their strategy.