Multi-Year Strategic planning, when it is done right, provides benefits to the organization during the actual planning process. Most importantly, it creates long-term benefits by providing a road map to organizational success.
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The number one job for all executives is to improve their business performance. What methods to employ is the question. Here are a few concepts to consider.
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Even infrequent golfers experience irritants with public golf courses. This should give owners pause. Why? Because it illustrates problems with their business model.
To demonstrate, we will use the right side of the Business Model canvas, which identifies:
I have frequently observed that when delegations of business executives meet their government equivalents there can be gaps in communication. This can be the result of different perspectives about the substantive issues. For example, businesspeople usually have very specific interests and the government officials have a sense of responsibility to a wider set of competing interests.
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As a first step in a strategic plan or assessing a business model, it helps to assess the factors in the environment that could have an impact on the success of our organization.
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Where to focus a business leader’s attention when it comes to creating a strategic plan for future success?
For most of my career, I have been very comfortable with the model illustrated below.
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As a first step within a strategic planning process, it is important to recognize that the nature of the competitive forces within our industry will determine the relative scope for growth and profitability. Understanding the dynamics of these forces will help us to assess the potential for new opportunities and begin to differentiate ourselves from others.
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For the past three decades I have been facilitating strategic planning sessions for client organizations. It’s something that I enjoy doing. It is a role that has brought me in front of hundreds of groups of people in North America and Europe. However, I am the first to admit that it isn’t what I do that adds luster to my resume, it’s the people and groups that I have been associated with.
Strategic Planning has gotten a bad rap for not addressing questions that turn on the critical choices that constitute strategy. Some critics have noted that strategic plans can simply be a roll-up of plans from across the organization, with little or no alignment and absent of any transformative attributes.
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Committees offer the promise of addressing critical issues that affect an association’s sector or profession. Committees can help deliver results on governance issues, advocacy initiatives, or new programs for members. But they can also generate risks and even peril to associations.
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