Strategy
A strategic plan is one that helps a corporate to navigate from its current Mission to envisioned Vision of the future. The strategic planning process may consist of several tactics aligned with corporate culture and values. It may be inappropriate to assume that every associate in a corporate would be thoroughly aware and can articulate the corporate Mission and Vision. But there is an impending need to percolate them to every associate in the organizational hierarchy so that all of them can articulate and raise themselves to achieve the Vision.
The Retail industry drives the global economy and continuing to evolve and become increasingly competitive. As the Retail industry is fragmented across a broad spectrum of organizations, ranging from brick and mortar stores and highly specialized outlets to a wide variety of online and multichannel retailers, change in consumer behavior, globalization, and consolidation makes evidence-based data-driven Retail Strategy and decisions more important than ever.
The strategic plan to achieve the Vision needs to be broken down to tasks, as otherwise, the likelihood of a corporate strategic plan succeeding is remote. A corporate must drill down its strategic plan to levels of Key Performance Indicator (KPI) and attach to various associates linked to their functions. While doing so, they must inter-align the larger picture of Mission and Vision to every KPI through which associates can gauge how their KPI achievement contributes ultimately to the Vision of a Corporate. This will not only help associates to know about the Vision but also develop a pride of having committed to the Vision of Corporate that she/he works. This pride will ultimately enhance engagement and long-term loyalty.
Strategic Planning and Management in the Retail industry is a vital component to evaluate your organization's key success factors,develop effective strategies that enable modern and dynamic leaders in the Retail industry to compete and win the global Retail marketplace.
Retail ViVA’s Strategy Module makes it easy for modern Retailers to succeed in strategic planning, strategy management, and agile execution. Retail ViVA’s Strategy Module allows Retailers to monitor their Strategic Health with simpler, more effective reporting with built-in real-time dashboards and reports for every aspect of their business from Strategy to Operational Key Performance Indicators (KPIs).Retail ViVA’s Strategy Module helps to link the Mission, Vision, Values, Strategic Plan, KPI and associate wise performance indicators in an approach that everyone collaborates to focus upon it as that “one” purpose."
Features:
- Capture & link enterprise wide Organization's Vision, Mission and Objectives to employee’s performance indicators
- Ability to create focused Key Performance Indicators (KPI) linked to Vision and Mission
- Link employee Key Performance Indicators (KPI) achievement to Vision and Mission and create pride of contribution to company’s purpose
Benefits:
- A single integrated platform across the organization to align goals and objectives and improve trust and transparency
- Giving real-time access to clarity and transparency of goals, targets, and deliverables across the entire business
- Communicate Vision, Mission and Strategic Objectives across the Enterprise to unify achievement of common corporate purposes
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