Creating an Effective Strategy for Success

Introduction

For any business or any endeavor, strategy is essential. Strategy outlines the means through which companies, organizations or any firm will use to achieve their key performance indicators. For a proper strategy to be formulated a number of factors have to be met. First, the company must be aware of its internal strengths and weaknesses and its external opportunities and threats. Second, the company must be aware of the direction in which they are heading; thus they need to clarify the purpose of the strategy and the vision/ambition that will guide the strategy. Moreover, the firm needs to establish objectives that will act as a measure of whether the strategy is working. The objectives will work as Key Performance Indicators (KPIs) where meeting the KPIs will serve as milestones and indicate that the employed strategy. Additionally, in relation to setting objectives, the company must employ S.M.A.R.T. measures. S.M.A.R.T. is an acronym which stands for Specific, Measurable, Attainable, Relevant and Timely. S.M.A.R.T. ensures that the goals are specific and are not vague, which can be particularly beneficial for those seeking business dissertation help. Third, the company needs to formulate the strategy where they establish what the source of sustainability and advantage is; establish a sense of policy direction; develop a scenario test strategy and identify a strategic principle to guide decision-making. Fourth, the firm must implement the selected strategy. The selected strategy helps in establishing structures and systems which facilitate culture. That ensures that the changes elicited by the proposed strategy are not only a one-off scenario but that they will be inculcated into the culture of the firm to increase the probability of the strategy being successful. Fifth, an evaluation of the strategy must be carried out. An evaluation acts as a measure of whether the strategy is successful or if it needs to reevaluated. By following the above steps, a firm will be able to formulate a proper strategy.

For the purposes of this assignment, the organization whose strategy will be evaluated is Rowing Canada Aviron (RCA). As the name suggests, it is a sports organization that focuses on rowing as a sport. The document being evaluated lays out the RCA’s strategic priorities for the year 2018-2020. The strategic priorities and the means of achieving them shall be evaluated to see whether they adhere to the above steps of strategy formulation.

Strategy Analysis

Internal Strengths

RCA has a number of internal strengths and weaknesses. In relation to internal strengths, the company has a strong and dedicated community that is passionate about rowing (RCA 2018). A passionate community is a strong basis of strategy implementation and formulation since it is the people who will implement the laid-out strategies. Second, the company focuses on formulating strong coaches (RCA 2018). Everything rises and falls with leadership; therefore, an organization that has strong leaders is bound to do better than an organization with a weak leader. Therefore, having and developing strong leaders is a major strength for the company. Third, the organization focuses on engaging the community and finding key stakeholders that will bolster the communication with the community. Focusing on the community is a major strength since the community in which a company is situated can make or break an organization (RCA 2018). Moreover, by engaging the community the company gains important supporters of any changes that the company may seek to make. Fourth, the organization believes in taking risks and pushing boundaries, and that is important more so when the company is trying to implement a new strategy (RCA 2018). Fifth, the organization focuses on adopting new technologies and practices which gain them a competitive edge over their rivals (RCA 2018). Therefore, the company has major internal strengths that will be useful in strategy formulation.

Internal Weaknesses

RCA has a number of weaknesses. First, based on the given information the organization does not seem to have a strong internet presence (RCA 2018). In the modern age, having a strong social media presence may be the factor that gives a company a competitive edge over their competitors. Thus, having a less than optimal social media presence is doing the company more harm than good. Second, based on the document given not much is said about the rowing athletes which creates a supposition that the organization pays little focus to their athletes (RCA 2018). Moreover, when information about the athletes is revealed it is talked about in abstract terms rather than in a humanistic tone. The above are the key weaknesses of the organization.

External Opportunities

The key opportunity that the organization has is that it has access to Olympic and Paralympic athletes who will strengthen the organization as a whole. By utilizing their source of athletes then the organization will never fall short of athletes to help in improving their ranks. Second, the organization has opportunities to participate in rowing competitions, and the most prestigious competition is the rowing Olympics which occur every four years, and the next one will be in 2020. With proper strategies, the organization has the opportunity to win gold medals in the Summer Rowing Olympics.

External Threats

The key external threat the organization faces is that of other Rowing organizations. Rowing organizations battle for the same resources and the same acclaim which translates to fewer resources and acclaim going to RCA. A future external threat that the company may face is losing their recognition and support from the government or losing their sponsors and stakeholders. Losing support of the government, sponsors and stakeholders will mark the end for the organization.

Strategic Direction

The organization has excelled in creating a strategic direction by clarifying its mission and vision. The overall vision of the organization is for “Canada to be a leading rowing nation.” The mission of the organization is “to be an exemplar of best practice in the development of the sport in Canada as well as achieving sustainable success on the international stage” (RCA 2018). The purpose of the organization is to “inspire growth and excellence in Canada through the sport of rowing” (RCA 2018). Based on the vision and the mission of the organization they have set down objectives based on the S.M.A.R.T. measure. The objectives are Specific, Measurable, Attainable, Relevant, and Timely. The goals are specific since they are direct and not vague. One of the goals that the organization has is having a podium performance. A vague goal would be the organization stating that they want to win the competitions that they attend. Simply stating that they want to win would not be enough since that goal is vague. Second, their goals are measurable. Using the podium performance goal. The goal is measurable since the only way that an athlete will achieve a podium finish is if they are top three in the whole competition. Therefore, stating that they want a podium performance is measurable in the long run (RCA 2018). Third, the goal is attainable. Still using the specific goal of having a podium performance, the organization would have set the goal of attaining a gold medal in the Olympics. That would be a very hard goal to attain since they would be competing against some of the best teams in the world. Stating that they would like to achieve a podium finish is more attainable since they can finish first or third and they would have experienced a podium finishing (RCA 2018). The goals are relevant since they are made in relation to rowing. If the company made goals in relation to hockey when they only deal with rowing, then the goals would not be relevant to their chosen sport. By setting goals that revolve around rowing, the organization is selecting goals that are relevant. The organization has also set goals that are timely. Some of the goals that have been set will be achieved within a four-year time frame such as seeking a podium finish (RCA 2018). Therefore, by using the SMART time frame to formulate their goals and objectives, the organization lays out a strategic direction that guides the formulation of the strategy that they have for the future.

Strategy Formulation

Based on the strategic direction, the organization has formulated a number of strategies. Before formulating the strategy, the organization has laid out a number of strategic pillars that act as KPIs in a sense. The purpose of the strategic pillars is to act as the foundation for the strategy that the company formulates and to act as a guiding light. The strategic pillars that the organization uses are high performance, sports development, and organizational sustainability (RCA 2018). The core strategies that the company has formulated and which revolve around the core strategic pillars are six-fold in nature. The first core strategy is a podium performance. Podium performance relates to the high-performance strategic pillar, and it helps in ensuring that the organization has a high-performance system in place that will maximize and sustain podium success at the World Championships, Olympics and Paralympic games (RCA 2018). The second core strategy that the organization has formulated is the optimization of pathways. The optimization of pathways will be done in partnership with the Provincial Rowing Association and will involve working with clubs, schools and universities to identify, recruit and develop a strong pool of able bodies and Para-athletes and coaches that will help solidify the future successes that the teams seek. This strategy also revolves the high-performance strategic pillar.

The third core strategy that is applied by the company is the strategy of growing the capacity. This strategy will involve securing and expanding the number and quality of waterways and facilities for people to enjoy all aspects of the rowing sport (RCA 2018). This strategy will be fulfilled through the recruitment, training, and development of volunteers, coaches, officials, and umpires who will support the sport as it continues to grow and expand into other parts of the country. While anticipating the growth of capacity the organization has endeavored to enhance the experience which will have ripple effects into growing the capacity of the teams and that acts as the fourth core strategy. The organization will seek to create a compelling and satisfying experience that will encourage as many individuals to join and stay in the sport. The individuals will include but are not limited to volunteers, coaches, umpires, and competitive and recreational rowers. The strategy was created under the premise of the more people who get involved in the sport, the better it will be for the sport in the long run.

The organization has also laid out the fifth and sixth core strategies. The fifth strategy revolves around improving organizational effectiveness (RCA 2018). The organization will seek to engage and align volunteers, staff and the leadership with developing all of the skills and capabilities that will be needed to transform the organization into one of the leading National Sports Organizations. The alignment will translate into efficient and effective internal structures and systems that will help in improving organizational effectiveness in the long run. The sixth and final strategy that the organization has developed revolves around growing influence and value (RCA 2018). This strategy seeks to raise the profile of the sport not only in Canada but also on the main and international stage. That will be done through enhancing and developing relationships and partnerships which will help the secure organization funding and generate new sources of income for the future. The strategic principle that guides the decision making in the organization is “to inspire growth and excellence in Canada through the sport of rowing.” Therefore, decisions that are made should seek to improve the organization’s ability to inspire growth and excellence in the rowing sport. If any decision that is about to be made does not adhere to that view, then it will not be good for the long-term health of the company.

Strategy Implementation

RCA has designed six strategies, and they have established structures and systems that will help in facilitating the culture within the company. In relation to podium performance and optimizing the pathway, RCA plans to implement that strategy by applying a tried and tested “Row to Podium” talent identification and monitoring methodology (RCA 2018). The company plans on setting up NextGen HUBs whose purpose is to recruit individuals for the rowing team. Additionally, RCA has reached out to Canadian rowing universities and clubs (RCA 2018). RCA has realized that if they want to recruit prime talent than universities that have rowing clubs and actual rowing clubs outside of a university setting will be a good place to start. Also, in relation to a podium finish the company has decided to target coaches and to grow them. The driving principle behind that is what the company calls “growing our own” (RCA 2018). The company has targeted some coaches and engaged a professional and systematic development strategy. The purpose of growing the coaches is to help in addressing the gaps in their skill-set and to enable them to become world-class international level coaches. The company has discovered, and it agrees that if it is to become a world-class organization, then it needs to have coaches with the proper skill set to teach their athletes. Moreover, the company seeks to have every coach certified within the next 3 years. RCA argues that coaches are the lifeline of the sport (RCA 2018). Thus, it is important to improve the quality and consistency of coaching in the best way possible. Additionally, by ensuring that all coaches are certified the first experience that a new participant will have when they become part of the rowing community is with a certified and with a qualified coach.

In relation to improving organizational effectiveness, the company has implemented a number of strategies. First, they have endeavored to provide timely, accurate qualitative and quantitative data which helps them in improving their decision making and helps in improving the effectiveness of delivery (RCA 2018). RCA has also implemented strategies that aid in improving their overall communication effectiveness. The company seeks to have a communications base set up in areas with rowing activity. Those areas will receive priority when the company is setting up a communications center. RCA is also improving their communication through the utilization of digital media and ensuring that collaborative communication tools are in place (RCA 2018). The company has not overtly stated the resources that they will need for the implementation of the strategies. However, it can be inferred that it will need financial and people resources. In terms of timeline, some strategies such as certifying coaches will be carried out in three years, and the recruitment of new athletes is expected to happen annually.

Strategy Evaluation

There are a number of means through which RCA will carry out strategy evaluation. First, the success of coach certification will be determined by the number of coaches that will be certified at the end of the three years. Second, the number of quality athletes that will be recruited every year will also serve as a means for strategy evaluation. If the numbers are low, it will signal to RCA that they need to amplify their recruitment efforts. Third, setting up of NextGen HUBs within a two-year time frame will determine whether RCA has been successful in implementing their NextGen strategy. Fourth, setting up communication hubs in universities and clubs that deal with rowing will also signal success for RCA.

Conclusion

Rowing Canada Aviron (RCA) is the leading rowing organization in Canada. The organization has set out a strategy that it seeks to achieve over the next two years. RCA has more internal strengths than weaknesses, and it has more external opportunities when compared to its strengths. The strategic direction of RCA is guided by the overall vision which is “Canada to be a leading rowing nation.” The mission of the organization is “to be an exemplar of best practice in the development of the sport in Canada as well as achieving sustainable success on the international stage.” In terms of strategy formulation, the organization has set up three strategic pillars which are high performance, sports development, and organizational sustainability. In terms of strategy implementation, RCA has set aside the financial and human resources that will be needed to implement the strategy. In terms of evaluation, hitting the set KPIs will act as a signal that the changes the company is making are working and they are useful.

References

• RCA., 2018. Strategic priorities 2018-2020.