Strategic
Planning
- Planning has a simple definition -
"To decide in advance." It is the means to expressing leadership. We
decide where we want to go and how we intend to get there. The better the plans
the better the results. Intuitive plans, based upon gut feeling and incomplete
information, are least likely to be successful.
A
formal planning process is needed -
What is needed is a deliberate thought
process with formal reports and schedules. This lowers the risk that something
has not been considered. The planner must also be familiar with the laws of the
marketplace, forces at work, that will drive or stop intended success. The
results are superior plans.
Team
Planning - Our process features
team planning. Management team members participate in the development of the
plans which are approved by the shareholders. This approval gives us "buy in,"
better solutions and better implementation.
Actions
Result - The
strategic plan is not a document we place in a drawer and pull out years later
to see if we got there! It is a guide to action, rolled over and updated
frequently as better information becomes available. The result is a plan which
identifies what actions are necessary today for us to be where we want to be
tomorrow. Clear thinking leads to decisive action.
Planning Process Steps
Organize to Plan - Decide
planning expectations. Decide who should serve on the planning team.
Decide time frames and accountability. Get acquainted with an overview of
the planning process.
Conduct a Situation Analysis -
Give instructions on what information to get and how to get it. Review the
information for completeness and accuracy.
Understand the Laws of the
Marketplace - There are natural forces in the marketplace driving
business results. There are also strategy concepts and principles to be
made aware of. We must devise plans in concert with these forces and
principles to leverage success.
Develop the Strategic Plan - The
strategy plan is identified to include objectives, strategies and
assumptions about the business climate.
Organize For Results - Decide
how to structure the organization to execute the plan.
Some Strategy Questions For You to Answer
If current trends continue, where
will that bring me?
What changes in the environment
need to be addressed?
Who is my customer?
Where is my customer?
Why does that customer buy from
me?
Why does that customer buy from my
competitors?
What products and services should
I offer?
Should I diversify or focus?
What are my critical success
factors?
What is my strategic market
position?
What mix of values do I bring to
the market?
What technologies/processes/skills
are required?
How should I organize?
How fast should I grow?
Where will the money for growth
come from?
What pricing and terms are needed?
How does marketing fit into the
picture?
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