"Strategy is the direction and scope of an organization over the long-term which achieves advantage for the organization through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfill stakeholder expectations"- Johnson and Scholes
To move the needle, you’ve got to have a plan. A strategic plan at its best helps an organization or small business determine where they excel and where they can differentiate – and as a result, understand where to spend their time and resources.
Entering into the strategic planning process can seem daunting, but if it is done and managed well it can be surprisingly straightforward. In addition, it serves as the road map for all business decisions ahead.
As a strategic planning facilitator, I always recommend 10 key steps. Here they are in brief:
The strategic planning process usually occurs over a two- to three-day time period. Typically senior management is in the room. You may also want to consider key contributors to invite for certain segments of the discussion where their input would be helpful.
Choosing an outside facilitator (or someone internally who is not a part of the working group) is key so that the working team can be freed up to contribute without having to deal with meeting logistics.
Prepare a glossary of terms for strategic planning elements like: Strategy, Business Model, Vision, Mission, Culture, Tactics, etc. It is surprising how these terms are often defined differently for different people. Get everyone on the same page.
Before launching into what you want in the future, determine what the present looks like for your organization.
As strategy guru Michael Porter once said, "Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different." What is it that you do better than anyone else? Determine the space in which you want to differentiate. For instance:
While you may currently have a vision, mission and value statement, it can be important to examine them through the lens of where you are headed, as directed by your new strategic plan. If you currently don’t have these overarching banners, this is the time to create them. Remember -
It is essential to determine how you’d like the final product of the strategic plan to look. Many end up with multitudes of PowerPoint presentations in three-ring binders that collect dust over time. Work towards making the strategic plan accessible to all. One way to achieve that is to create:
A strategic plan is just a document without the hearts and minds of those responsible for implementation. Ensure success by assigning roles and responsibilities for all initiatives and tactics – along with deadlines for completion. Ask, “Who owns this?”
This final step is perhaps the most important and it’s the area that tends to lose traction with time. An organization must apply rigorous discipline to measuring the progress against the plan. Every time the senior team meets there should be an opportunity for accountable team members to report on progress, milestones, challenges and actions.
This final step is perhaps the most important and it's the area that tends to lose traction with time. An organization must apply rigorous discipline to measuring the progress against the plan. Every time the senior team meets there should be an opportunity for accountable team members to report on progress, milestones, challenges and actions.
A solid strategic planning process will help your organization create and execute on its emerging future.
Mari Pat Varga is a passionate and dedicated advocate for building robust communication cultures and individual communication champions within organizations. [Learn more...]