Policy and Strategy Development

You should know that policy and strategy development involves planning how to develop, draft, and prepare for the policy. To understand the strategy and policy development process first you need to understand its concept.

policy and strategy

Policy:

A policy is a principle or protocol to guide decisions and achieve rational outcomes. Moreover, a policy is a statement of intent, and there is a procedure implementation.

Strategy:

A strategy is a way of describing how you are going to get things done. Moreover, a good strategy will take into account existing barriers. Above all, there are resources which includes people, money, power, materials, etc.

Above all, it will stay with the overall vision, mission, and objectives of the initiative. Moreover an initiative can use many different strategies to acheive its goal like,

providing information
enhancing support
removing barriers
providing resources.

Reviewing major Stakeholder’s needs in details

This review can form the basis of top level goals, planning activities and setting of objectives and targets. It is done as:

Customer/market

Firstly, analyzing and understanding the collected data in terms of where the organization will operate.
Undertstand customers needs and expectations.
Developments are anticipated and understood, including those of competitors and their performance.
Benchmarking against best in class organizations.

Shareholders/major stakeholders

Understanding Shareholders’/major stakeholders’ needs and ideas.
Analyzing and understanding economic trends/indicators and their impact.
Developing policies and strategies to shareholder/stakeholder needs and expectations.
Various scenarios and plans to manage risks developed.

Processes

Understanding and implementing key process framework to deliver designed policies and strategies.
Identifying key process owners.
Defining key process and its major stakeholders.
Reviewing key process framework periodically in terms of suitability to deliver to organization’s requirements.

Society

Undertsanding society, legal and environmental issues.
Developing environment and corporate responsibility policies.

Policy development

This involves a policy cycle with many stages,

Problem identification – The recognition of certain subject as a problem demanding further government attention.
Policy Formulation – This Involves exploring a variation of options or alternative courses of action available for addressing the problem.
Decision-making – In this, government decides an ultimate course of action to whether to maintain the policy status quo or alter it.
Implementation – The ultimate decision made earlier will be put into practice.
Evaluation – Assessing the effectiveness of a public policy in terms of its perceived intentions and results.

Strategy Development

This has three phases and a variety selected methods with techniques.

Recognition – This is the analytical phase of the strategy development.
Choice – In this there is determination of what strategy to follow.
Alignment – It is the process of matching the organisational culture and structure with the desired strategy.

Goal development

It involves establishing specific, measurable, achievable, realistic and time-targeted (S.M.A.R.T ) goals. Moreover, goal-setting theory suggests that, an effective tool for making progress is to ensure that participants in a group with a common goal are clearly aware of what is expected from them.

Above all, each corporate, department, and section objective should be,

Firstly, Specific. That is to target a specific area for improvement.
Secondly, Measurable. It defines the quantify or at least suggest an indicator of progress.
After that, Assignable. It specifies who will do it.
Then, Realistic. It defines what results can realistically be achieved with given available resources.
Lastly, Time-related. It specifies when the result can be achieved.

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