Developing a coherent framework involves several steps:
Define the Vision and Mission Start by defining the long-term vision and mission of the organization. This provides a clear sense of direction and purpose.
Set Strategic Objectives Identify specific, measurable goals that align with the vision and mission. Ensure these objectives are realistic and achievable.
Map Operational Processes Document the key processes and activities that drive the business. Identify any inefficiencies or redundancies and look for opportunities to streamline operations.
Establish Performance Metrics Define KPIs that will be used to measure the success of the business in achieving its strategic objectives. Ensure these metrics are aligned with the overall business strategy.
Implement Governance and Compliance Structures Develop policies and procedures that ensure compliance with legal and regulatory requirements. Establish internal controls to monitor compliance and manage risks.