The five dimensions of effective strategy

For RCL, an effective strategy must have five interlinked components. These provide the scaffolding for a comprehensive innovation strategy

The first component is a Formula for Winning. This is the organisations chosen way of surviving and thriving in a competitive world.

The second component is an Actionable Strategic Intent. This provides clarity about which course the organisation intends to take.

The third component is a Critical Challenges Plan. This identifies the big difficulties that will need to be overcome if the organisation is to be successful and builds the capacity to address these challenges efficiently and effectively.

The fourth component is Selectively Capable Organisation. This provides the means to perform the host of specialised tasks that must be undertaken with efficiency, effectiveness.

The fifth component is Requisite Agile Mechanisms. These are institutions and processes within an organisation that keep its rate of innovation and absorption of best practice higher than rivals.