The five 5 key elements of the model are:
- Vision
- Values
- Critical Success Factors / Focus Areas / Strategic Pillars
- Strategic Objectives
- Key Performance Indicators
Most Strategic Plans can be distilled down into these 5 essential elements and there is invariably considerable benefit in doing this (Focus, Clarity & Simplicity). Should an existing strategy need to be re-visited, as part of an annual strategic review, or if there is no business plan in place, the epic Model is an excellent tool to use as it provides a logical structure and template.
Business Units can benefit from having their own One Pager – this can be aligned to the Company strategy. For example, Vision & Values might remain the same, but the rest of the document reflects the Objectives and KPI’s of the relevant Business Unit.
The epic Model/s can be downloaded at the click of a button, and of course, updated as and when required.
From an implementation perspective, a very useful feature is the ability to allocate 'Owners' to Strategic Objectives. Once done, Strategic Objectives are 'Assigned' and owners are required to record progress. Percentage Progress, RAG status as well as any Progress Statements all reflect on a High Level Strategic Dashboard. This provides excellent line of sight, ensures accountability and ultimately drives Execution.