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Strategic Review
Definition
A Strategic Review is the structured evaluation of an organization's strategy, competitive position, capabilities, performance, and external environment to determine whether its current direction remains appropriate. Unlike routine performance reviews, which primarily assess operational results, a Strategic Review examines whether the assumptions underlying the strategy continue to reflect business reality.
A comprehensive Strategic Review evaluates market dynamics, customer expectations, competitive developments, technological change, regulatory conditions, organizational capabilities, financial performance, strategic initiatives, and emerging risks. Leadership also reassesses key assumptions, identifies new opportunities, and determines whether existing priorities should be maintained, refined, or replaced.
Strategic Reviews are typically conducted annually or semi-annually, although organizations operating in highly dynamic industries may perform them more frequently. Importantly, the objective is not to rewrite strategy continuously but to ensure that strategic direction evolves appropriately as external conditions change.
Why It Matters
Organizations that fail to review strategy systematically often continue pursuing priorities based on outdated assumptions. Regular Strategic Reviews strengthen organizational agility, improve capital allocation, reinforce strategic alignment, and ensure that long-term decisions remain grounded in current market realities.