If your company is confronted with a significant change or problem, What is the best way to manage the situation? If, for instance, you’ve determined the IT infrastructure you have is outdated and inefficient, and you’d like to tear it down and put it in an enterprise-wide system, What person do you go to for help? The CIO? Then again, IT is an integral part of the IT department accountable to him or her, so isn’t that the best option? However, if you think about it just a moment, the primary function of IT is to serve all other departments of the business. Every department is an active participant in the effectiveness of the system which provides the information. What is it to let the actual stakeholders decide what they need and how to carry out the plan? This efficiency, doing it right from the beginning, is why Strategic management groups are getting increasingly more sought-after.
How do you form teams? Who should they include on their team, and what duties do they need to fulfill? Here are some suggestions for how you can develop and assist the efforts.
1. Members of the Core Team
A core team comprising approximately three-ten individuals is required to be selected from senior leaders who also have a stake in the venture. This results in the team being comprised of a variety of disciplines whose viewpoint will reflect the best of the culture of the organization and its focus. The team leader must be elected or appointed by team leaders.
2. Responsibility
The team should be provided with an objective that is broad by the CEO. The goal should be focused on “benefits” to the organization instead of merely defining it. If we take the IT instance, the goals could be reduced production costs, a better market position, improved customer satisfaction, and increased value by introducing new ideas. The team will then take those broad strokes, and since they represent every department, they come up with solutions to accomplish the goal. Do you notice the differences? This isn’t an IT team telling the rest of the business, “Here’s your new system.” It’s the users telling the company, “This is what we want a new system to do.”
3. Authority
The CEO needs to be courageous. The strategic management team does not mean that they are advisory to the CEO; they are the decision-makers. Being aware that their decisions can have an influence on the way in which the company is run is the key to the success of management teams. Their approach to their job is quite different and more focused than if they were given an advisory committee to offer suggestions. As decision-makers, the company should invest in the necessary resources and authority to complete their work.
4. Extended team
The extended team assists its core group by offering an additional perspective and experience. The team is comprised of the number of members needed by the core team, and the members can be added or removed depending on their skills. In the future, outside suppliers may join the team. The core team will ask questions, while the extended team is responsible for and provides the responses.
5. External members
Complex projects might require bringing external talent in to help the core team in executing their duties. For instance, brainstorming is a fantastic method to come up with a variety of ideas in a short amount of time. However, it’s most efficient when an outside facilitator who has expertise in brainstorming leads the meeting. Similar to the help of a business coach. If the team gets stuck at the point where they are struggling, Business coaching can help the team to work through the process of solving problems.
6. The role of the CEO
Although the overall responsibility and authority for the project lies with the team responsible for strategic management, however, the CEO has the ability to influence the project by keeping in constant contact with the team and tracking and evaluating progress. Being in close contact with the team offers the CEO a chance to show the leadership qualities that he wishes his team members to demonstrate to their respective departments.
7. The function of the organization
Management should be sure to inform everyone within the company that the team for strategic management is in place, that they are the only ones with full authority over the project, and that the collaboration and the support of employees are desired and required. Territorial issues shouldn’t pose an issue since members of the team are comprised of the top executives from each discipline. However, having the entire company support the team will improve the efficiency of the process.
The team management approach will not only enhance the company’s operation but also is the best way to sustain the education and development of the senior management. In terms of the talent pool, a company’s “bench” can never be too deep.
