Strategy
Scope Loveworld is the Loveworld’s key funding programme for research and innovation with a budget to support all its activities. It tackles expansionism, exceptionalism and helps to drive and achieve the Loveworld’s competitiveness and growth.
Our four key strategic orientations of the Loveworld Scope Strategic Plan:
- strengthening sustainable innovation ecosystems across Loveworld
- fostering the development of entrepreneurial and innovation skills in a lifelong learning perspective and support the entrepreneurial transformation of Loveworld youths
- bringing new solutions for global societal challenges to the market
- creating synergies and added value within Scope Loveworld
The LIIT’s strategy, objectives, key actions, activities, and expected impacts will be presented in the LIIT Strategic Innovation Agenda 2022-2027.
Our mission and vision statements serves as our compass aswe develop our strategy, keeping us on track to make decisions that will get us where we need to go.
Strategy implementation is a major undertaking with lots of moving parts; that’s where strategy planning frameworks come in handy. Lots of different frameworks exist, and their approaches to strategy execution vary. But they all help us build a concrete path toward our goals and stay focused on achieving them.
We identify priorities in order of the scale of preference, we choose a few priorities to focus on; these are called “strategic priorities,” “goals,” or “objectives.” They make up the key components of our strategy at the highest level.
Measures help understand if we’re meeting our goals, and initiatives (also called projects) are the action programs we develop to achieve our objectives. No matter what framework we’re using, we’ll need to define all these elements in order to translate our vision into an actionable strategy.
We recommend a written plan, outlining your communication strategy that describes how you’ll:
- Educate employees about the strategy (and their role in it)
- Generate enthusiasm and engagement around the plan
- Communicate your strategy with external parties—board members, partners, or customers
- Disseminate quarterly performance results in a timely way to keep the momentum going
Once strategy is launched, it’s important to hold regular performance reviews and refine the plan accordingly. These reviews should be at least once a quarter, and possibly monthly, depending on the organization and industry.