1.Organic growth requires a strategy and structure to achieve and support growth by increasing the depth and/or range of programs, services, products or other initiatives, which means entirely by your own efforts
2.Inorganic growth requires a strategy and structure to achieve and acquire growth through partnership, merger or acquisition activity
3.A mixture of organic and inorganic growth requires a strategy and structure to grow through your own efforts as well as through partnership, merger and/or acquisition activity.
Step 1: Determine your desired growth strategy – organic, inorganic or a combination of both:
- this initial step begins by clarifying your organisation’s core business (ie what you must do), and is followed by an objective and factual analysis of recent and past organisational activity – firstly to identify previous or current growth strategies; secondly to assess their impact on service delivery, continuous quality improvement, revenue generation and cost-efficiencies; and lastly to assess how your organisation has handled growth up to now
Step 2: Develop an appropriate, acceptable and achievable strategic plan: make sure this is driven by your Board through an inclusive process, and that early attention is given to current and likely opportunities, requirements or risks
Step 3: Formalise and introduce your communication plan: your Board, CEO, Staff and Membership base will all need to have confidence in the desired strategy – as will all key stakeholders
Step 4: Review your current legal, organisational and partnership structures:
- begin by assessing the appropriateness of current structures in relation to Steps 1 and 2
Step 5: Carry out a risk assessment:
- what could possibly have a negative impact on your growth strategy and legal, organisational and partnership structures?
Step 6: Prepare a detailed business plan for the current and/or next financial year, based on each of the preceding five Steps:
- this will be the solid basis for strategic, financial and operational key financial indicators, measures and targets
Step 7: Attend to any necessary or desired constitutional or structural changes, and improvements to your quality system/methods:
- these should be identified by now, and external professional advice may be required
Step 8: Commence implementation of your growth strategy:
- ensure a schedule for monitoring and measuring progress, as per Step 6.
Contact Jean if you would like to discuss or adapt this Checklist