Assumptions and Prerequisites

This article describes assumptions and prerequisites of social media strategies.

Definition

In strategy development, assumptions and prerequisites stand for the assumptions and prerequisites on which the content and thus the success of the strategy are based. Assumptions and prerequisites are an independent strategy component in the potential-based strategy model pbsm because the content of this strategy component is of direct importance for the success of the strategy.

Meaning

Every strategy is based on assumptions and prerequisites.

If the assumptions and prerequisites underlying a strategy are not met or are met, the success of this strategy is unlikely.

While prerequisites are a relatively predictable element, prerequisites should be treated with greater caution and attention.

Risks

The most important risks from assumptions and prerequisites are

• Assumptions are not correct: Strategies that are based on incorrect assumptions are highly unlikely to be successful.
• Prerequisites are not met or change: in this case, too, a strategy is missing part of its foundation. This endangers the success of the strategy.

Assumptions and prerequisites of a strategy are not known: The strategy is uncertain and qualitatively questionable because existing risks – in the form of assumptions – are not known. Every strategy is based on assumptions that should be defined in order to keep an eye on these assumptions and to be able to recognize incorrect assumptions early on and correct their consequences.

Assumptions and prerequisites of a strategy are not monitored: Assumptions and prerequisites of a strategy are not static. This means that they are subject to a variety of influences and can naturally be incorrect. If assumptions and prerequisites are not monitored in strategy management, the risk that the strategy will lose success increases because unrecognized changes are not taken into account in time.

Application

Assumptions and prerequisites as part of a strategy and as part of the development process are used:

In the strategy process

We check decisions and contents of strategies and strategy components for assumptions that underlie them or for possible prerequisites, evaluate them and take these findings into account.

As a strategy component

In the strategy component assumptions and prerequisites we summarize all recognized assumptions and prerequisites of a strategy / strategy draft.

This gives us an overview of the quality of the strategy and its risks and allows us to keep an eye on assumptions and prerequisites in order to be able to react to changes in a timely manner.

Benefits

Assumptions and prerequisites have the following benefits:

Strategy quality

By defining the assumptions and prerequisites of content and decisions, the quality of the content and decisions increases. We recognize problems in good time, for example those that arise from uncertain assumptions or from uncertain prerequisites.

Strategy success and strategy management

Strategies in a highly dynamic environment carry a particularly high risk from changes in external factors. What was present at the time the strategy was developed may have changed in a year. Being able to recognize these changes early on is a competitive advantage and at the same time a necessity.

Both are based on knowledge of the assumptions and prerequisites of a strategy and on monitoring them as part of strategy management. Monitoring the defined assumptions and prerequisites of a strategy should therefore be one of the tasks of strategy management.

Social media strategy competence and strategy quality

Social media strategy competence

Whether and how assumptions and prerequisites are used in strategy development and strategy management is a question of social media strategy competence and therefore also an indicator of the state of social media strategy competence in the company.

The use of assumptions and prerequisites in strategy development is therefore an indicator of strategy competence in social media.

Social media strategy quality

If a social media strategy lacks defined assumptions and prerequisites, the quality of this strategy is a question mark. It is unclear whether the assumptions and prerequisites (for the success) of the strategy were known but not recorded and the strategy is therefore more stable in its foundation. Or whether the assumptions and prerequisites of the strategy are not known. This would make the foundation of the strategy significantly weaker.