Today’s Definition of Strategic Planning
A quick Google search for definitions of strategic planning will yield numerous variations. Often these definitions point to the blatant misunderstanding of what strategic planning truly is. At other times the term is flat out misused. In the end, we find that strategic planning lacks a widely accepted definition. It seems everyone in the field of planning has a different view on the exact definition. Yet, the definitions we most embrace convey in one form or fashion that the idea of strategic planning is to build and sustain competitive advantage by defining desired outcomes and creating some sort of go-forward plan to achieve those outcomes.
A Lesson in the History of Strategic Planning
When today’s business leaders think of strategic planning they are likely think of the planned strategic and organizational actions and innovations that will be used to maintain and build competitive advantage. In fact, an entire industry is built around strategic planning services and consulting to support these efforts to build advantage over ones business competitors. But strategic planning wasn’t always thought of this way. So how much do you know about the history of strategic planning? Would it help you to understand it better? We think so.
Align Your Strategy and Operational Plans to Core Competencies
Core competencies are the underpinnings of an organization’s skills and the cornerstone of successful strategic execution. Core competencies represent the fundamental knowledge, abilities, and expertise of an organization. They are what make individuals and organizations unique. Furthermore, your ability to understand and measure organizational core competencies is a critical factor in reaching your desired goals.
7 Ways to Test Your Strategic Planning Approach
Ready to begin a strategic planning exercise? Perhaps you are wondering if your current approach is up to par? When evaluating your corporate strategic planning approach, here are 7 tests to determine if yours is as good as it should be.
In Corporate Strategic Planning, Be Ready to Prioritize and Justify
So much has been written about the importance of setting priorities. Whether in time management or corporate strategic planning, the point remains: We must know our priorities and focus on the projects and opportunities that represent our highest priorities. The saying, “Do your best and forget the rest” is applicable in more than one way. Focus your resources and energy on your best opportunities and set the others aside.
Opportunity Valuation Gives Direction to Strategic Planning
In corporate strategic planning and, let’s face it, in life itself we have to choose our battles. As much as we try to stretch our limited resources, the fact remains that they’re still limited. In our strategic planning approach, we call the process of choosing our battles “opportunity valuation.” And by the way, choosing our battles isn’t a negative; it merely refers to the fact that we must select the opportunities (targeted outcomes) that will earn our limited energy and resources.
Align Culture and Communication for Better Strategic Planning Results
It is well accepted among organizational theorists that companies with strong cultures and well devised communications plans outperform those without such ingredients. Communication motivates employees and unites them toward a common goal. As such, in our strategic and operational planning engagements, communication is a vital component.
At MethodFrameworks, we have devised a mutidisciplinary and culture-based approach to effective communication throughout the organization, among the team, and within the engagement, along with communication of the corporate vision to all members.
Think You’re Ready to Hire a Corporate Consulting Firm?
Here are 5 ways to know for sure.
Organizations typically seek the help of outside corporate consultants to provide strategic advice or solve complex problems that cannot be sufficiently handled internally. Usually, the process of hiring a consultant is surrounded by excitement and anticipation of what the consultant will do for the organization. At the same time, an outsider can bring out a mix of fear, doubt, and uncertainty that, if left unchecked, will act as roadblocks to an otherwise successful process. Too often, leaders call on consultants without understanding the attributes necessary to work effectively with an outside firm.
Before hiring a corporate consultant, find out if your senior management and key staff are equipped for success.
Why Do We Need More “Whys” in Corporate Strategic Planning?
We published an article recently about The Role of Critical Evaluation in Strategic Planning. In the article, we discussed the value of asking, “Why?” in the corporate strategic planning process. A simple question, yet powerfully thought-provoking, “Why?” is too often missing from our decision-making vocabulary. Why, what if, and other forms of critical evaluation contribute to a more effective decision-making process by promoting debate and discussion that is necessary to achieve the best possible outcome.
5 Secrets to Successful Corporate Strategy Implementation
Corporations around the globe understand and value the importance of strategic planning. A well crafted strategy provides essential vision, direction, and goals for the organization. Yet what happens when many organizations attempt to realize the outcomes of those meaningful strategies? Strategy implementation is seriously lacking in most organizations. The skills, knowledge, experience and discipline to succeed are simply not there.
- previous
- next
