Going in-house: Internal strategy teams growing in popularity
Business strategy is not something that can be taken lightly in today’s enterprise space. As the global environment becomes more competitive, anything that can differentiate one company from another is increasingly valuable.
Finding those nuances – and profiting from them – is only possible through effective strategic planning and execution. However, in the past, many enterprises have chosen to conduct their planning externally, creating a disconnect between the aims of the organisation and those within it that have to meet them.
Taking it in-house
However, as more enterprises recognise the importance of diverse, malleable strategy, the in-house consulting team has risen to prominence.
In fact, Harvard Business Review contributors Malte Bernholz and Andrew Teng explained that some of the biggest companies in the world – Cisco, Google, Disney, Volkswagen etc – are consistently assessing their business plans from the inside out.
So, what are the advantages of choosing to assess the company’s aims internally?
Better defined objectives
Using an outside influence is all well and good in some circumstances, but who has a better understanding of the trials and tribulations of a business than those within it? Creative Marketing pointed out that in-house strategy teams can establish a more defined set of goals, and even prove to be cheaper than taking things outside of the business.
More accurate insights
Mr Bernholz and Mr Teng surmised that another advantage of insular planning is the fact that the process of reaching any objectives can be more accurately measured, reassessed and altered if and when needed.
Naturally, this would involve the use of the right tools for the job, such as strategy planning software. However, once the company has equipped itself accordingly, it will find that its ability to not only plan more accurately, but consistently adapt its aims and goals, will make the process of internal planning that much more of a success.