The strategic impact of a matter is an excellent measure of the importance of this work and how it should be prioritized. So how should you determine where a piece of work fits on the 0 - 10 rating scale?
Rating 'Strategy' relates to how your team's advice and contribution on the matter contributes to the organization's strategic goals. This may involve key questions including:
- What are the Board-set or publicly stated strategic goals of the organization?
- What is the commercial impact (value added or lost) to the whole organization (vs. one Division or Business Unit)? This may include setting monetary bands.
Suggested ratings may include:
0 = no commercial or strategic impact
1 = minor commercial impact; no strategic impact
2 = some commercial value to one area of business OR very limited strategic impact
3 = commercially valuable to one area of business OR limited strategic impact
4 = commercial valuable to whole of business OR tangible impact on a strategic goal
5 = commercially valuable to whole of business AND some strategic impact
6 = commercial impact meaningful AND important to achievement of a strategic goal
7 = commercial impact with consequences across multiple Divisions/Business Units AND important to achievement of a strategic goal
8 = commercial impact significant for many or all Divisions/Business Units AND impacts on >1 strategic goal
9 = commercial impact of high significance; important to achievement of multiple strategic goals and vision of organization
10 = imperative to achievement of all strategic goals
Tip: You can use Tooltips to guide your team members on strategic goals. You may set these out in detail or refer to a page on your intranet that sets these out.