Strategy Planning & Execution
At HRC Retail Advisory, we believe that even the best strategy plans are worth very little without effective execution. Inconsistent or ineffective execution all too frequently negates the value of a potentially successful strategy plan. We find that execution challenges and related change management are often misjudged or under-estimated. This is particularly challenging given the complex environment in which retailers are operating today.
HRC’s strategy process comprises the following four discrete phases to ensure that each retailer’s strategy is tailored to their unique business situation and objectives:
- Assessment and Analysis, in which an understanding of the retailer’s internal and relevant external environments is developed
- Strategy Formulation, in which the high level strategy is developed and the implications on the retailer’s organization are developed
- Strategy Execution, in which the high level plan is translated into operational action plans and responsibilities are allocated to each executive and function
- Sustaining Phase, in which ongoing refinement and evaluation of performance, culture, communications, data reporting, and other strategic management issues takes place
The goal of HRC’s strategy process is to develop a pragmatic strategic plan for each retailer that can support the evolving retail landscape with a keen eye on what may be coming tomorrow.