Ways of achieving
strategic alignment:
- Top – Down approach: Resource allocation is based on the company’s vision and specific goals.
- Bottom up approach: Strategic criteria are built into the project selection tools and thus strategic fit is achieved simply by incorporating strategic criteria into the Go/Kill and prioritisation methods.
- Top- Down and Bottom – Up approaches combined
Irrespective of the approach used, the following elements
should be addressed:
·
Set Product Goals: E.g. percentage of revenue derived
from new products the previous years. Percentage of profits to come from new
products. Percentage of growth either revenue or profits
·
Analyze the market and the competition: PEST
and competition analysis
·
Assess your market place: Identify
customer latent needs, industry drivers, etc. Use of Porter’s 5 Forces (Porter)
·
Assess you company’s strengths and
weaknesses: SWOT
·
Marketing and Sales
·
Product Technology
·
Operations or production capabilities and
technology
