Summary:

This author writes that research, contemplation, setting course, and communication are key elements when putting together your strategic plan. He suggests that one person or a small team should take the lead on collecting relevant market research, getting employee inputs on important issues, reviewing the 2009 annual plan and producing a SWOT (strengths, weaknesses, opportunities, and threats) analysis.

Next, sharing the market research with executives and allowing a few weeks time for the information to resonate before decisions are made will set the stage for open communication and collaboration in getting the strategic plan formulated.

Article Quote:

“A good annual operating plan can really bring an entire company together and get everyone pulling in the same direction for at least the first 6 months of the year.”

Link: http://www.seattle20.com/blog/Strategic-Planning-for-2010-is-a-must-start-now.aspx

Coming up with a strategic plan, and equally important – implementing it – can be a daunting task. Strategic planning technology assists with the process by providing greater collaboration tools. Additionally, using scenarios when making the plan will aid anticipation and response to the future. Having a plan in place when a scenario becomes reality lessens anxiety and will make it easier to deal with the threat or opportunity.

For more on strategic planning technology, see http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

This article addresses several core principles of scenario planning as described by the author’s experiences using planning methodology. Scenario planning is about moving confidently towards tomorrow and towards the aspiration of what an organization wants to become. In the hands of a skilled facilitator this process can be a meaningful way of engaging stakeholders in a process of thoughtful change that strengthens the strategic intent of an organization.

Article Quote:

“Building scenarios is more art than science and while it engages the head, scenarios often more about passion, vision and heart.  As a result, scenario planning is a useful tool that works best where there is leadership, openness to change, uncertainty future, and the time to process the uncertainty. Conversely, if the way forward is predetermined or an organization is in the midst of a crisis or otherwise does not have the capacity to absorb long-term change, scenario planning will be less helpful.”

Link: http://facilitationprocess.com/scenario-planning-as-a-facilitation-tool

When creating scenarios, one needs to build time into the process to twist and turn scenarios until there is alignment across several dimensions.  When groups work together to bring a scenario into existence, they begin the work of creation.

Once created, the strategies and actions that support movement towards the realization of the scenario becomes a self-fulfilling direction. Possessing the right mind set from the very beginning will help bring the scenario into existence. A right mind set is positive to change and ‘rolls with the punches’.

For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

This article explores applying strategic planning to our lives. Strategic planning is done by scores of businesses, but rarely do we think of strategic planning in our personal lives. A strategic approach is simply a way of looking at multiple ways of accomplishing a goal or objective and evaluating the pro’s and con’s of each, as written by this author.

Given are four steps to follow when using strategic planning for yourself. Begin with identifying goals, then create a plan. Next, think about alternative ways to accomplish the plan, and finally, come up with a back up plan.

Article Quote:

“When there’s more than one good way to accomplish the goal that’s when it can be very beneficial to plan strategically. By planning strategically you look at both the pro’s and the con’s of each approach and your able to select the best approach based on your analysis of the two.”

Link: http://earningmoneyonline.biz/2009/12/04/the-importance-of-personal-strategic-planning/

Strategic planning can be the safeguard to the unexpected while providing a map to accomplishing goals. Thinking about possible scenarios, both positive and negative, while crafting the strategic plan will provide greater control when or if the scenario becomes reality. Scenario planning can produce better decisions because when a problem does come up we are often stressed out and decisions can easily be clouded by emotions.

For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

Tactical planning takes strategy and puts it into action. Three key components of a basic tactical plan include action plans, measurements and an education and training plan for department employees, according to Steve Van Remortel, a consultant, speaker, certified behavioral analyst and president of SM Advisors Inc., a strategic planning and talent management consulting firm.

Reasons given for the importance of tactical plans include: a result in company-wide involvement, buy-in and accountability. When these factors increase, so too will active participation in putting the strategic plan into action.

Article Quote:

“Each action plan is developed to achieve an organizational goal, and must have an owner and a prioritized completion date. Because accountability is so important, all action plans should be reviewed at least monthly.”

Link: http://www.greenbaypressgazette.com/article/20091206/GPG03/912060606/1247/Tactical-planning-makes-a-difference

Successful Implementation of tactical plans requires a lot of work and involvement. Some individuals may be resistant to change while others embrace it. Striking the right balance sometimes requires coaching to get a strategic plan into action.  As each department completes its action plans working “on” the business, instead of “in” the business, the success of the organization will likely accelerate.

Accountability is by far one of the biggest components in successful strategy implementation. A good strategy software lets everyone see who’s responsible for what, when it’s to be completed, and at what stage of completion the task is.

For more on implementing tactical plans, see http://www.performancesolutionstech.com/category/strategicplanning/

Craig McIvor writes that over twenty years of crafting strategic plans for businesses, he has come to some conclusions. First, that modern leaders are drowning in detail and this is hampering the quality of their decision-making. Second, very few businesses understand the drivers of their business and what competitive advantage really means. Without a clear understanding of what the business does and what constitutes its competitive advantage, the task of developing a strategy becomes difficult. Finally, McIvor writes that our leaders’ risk-aversion is limiting the ability to change towards more sustainable business models.

Article Quote:

“Many large businesses succeed in spite of themselves. Over time they do accumulate competitive advantage, market share and great profits, but without understanding the reasons for this, their ability to sustain this position is unlikely.”

Link: http://www.nzherald.co.nz/small-business/news/article.cfm?c_id=85&objectid=10613436

The self-imposed information overload we put ourselves through only hampers the strategic planning process. In this information age, we have nearly infinite amounts of information at our fingertips. When sorting through what is important and useful, sometimes we need to take a step back to focus on what kind of decision needs made. Remember, information is only useful when it is relevant. 

Once a strategic plan has been adopted, implementing it is the next step. Strategic planning software brings projects and people together in a collaborative effort that puts the strategic plan at the forefront of day-to-day operations.

For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

This article offers definitions on widely used business terms. Miscommunication on key terminology creates havoc when it comes to implementing a strategic plan. Furthermore, this author explores the question of who should own the definition of terms like objectives, goals, strategies and tactics. Should it belong to the executive in charge or an outside agency?

Objectives, or high level achievements, should sit at the top of the strategic plan. Organizations should have no more than a handful -any more is an overload and may cloud what is really important to business success.

Article Quote:

“Most people use some form of objectives, goals, strategies and tactics for their plans, but get a group of 10 people into a room and you might have 10 different definitions of what those terms mean? That’s why agreeing on their meaning is vital to your plan. Term agreement is a lubricant to productivity.”

Link: http://sclohonet.blogspot.com/2009/12/planning-for-2010.html

Effective communication must start with a clear understanding of what terms mean. Who owns the term is not what is important. What’s important is that everyone understands what’s being said. 

Once you’ve moved beyond term definition, and created your strategic plan, it’s time to put it into action. This is another area where clarity in communication helps avoid slip ups. Individual accountablity and follow-up improves with strategic planning technology. Management can have instant access to track projects and people.

For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

Tips offered for successful strategic planning include: set up a solid planning and benchmarking structure, use a strategic plan to drive accountability and alignment, involve every associate in the planning process, obtain formal agreement from everyone involved in the process, and implement the three Cs: consistency, communication, and clarity.

In the fifth tip, the U.S. Postal Service attributes its success in part to some key factors such as consistency, communication, and clarity. Planning does not change with changing corporate leadership. They strive for constant, simple communication with the 700,000 employees and millions of customers and they emphasize clarity and focus by limiting the number of top-line goals.

Article Quote:

“Before, the organization focused on integrated planning, various units maintained their own planning cycles without any conscious effort to connect or integrate them. The current planning structure ensures alignment across the organization, and Six Sigma initiatives improve core processes and help Bank of America deliver consistent results year after year.”

Link: http://nikhils-nick18.blogspot.com/2009/12/5-tips-for-successful-strategic.html

These are good tips to follow when developing a strategic plan. While I don’t believe a formal contract is necessary, it might be that little extra nudge that gets individuals to participate. Focusing on accountability and listening to employee ideas are great ways to get results.

A good strategic planning software enables leadership and the entire organization to be involved and connected to goals. Drilling down into objectives and tracking progress will help keep the strategic plan from collecting dust on the shelf.

For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

A few years ago, many HR executives developed workforce-management models with two main assumptions – droves of baby boomers will soon retire and entry-level workers will hop from job to job. Throwing a wrench into those models is the fact that neither group is doing as expected due to the economic crisis.

More that half of HR professionals reported that their workforce-planning models were “moderately effective,” and nearly a quarter surveyed reported “slightly effective,” according to a study conducted by the Institute for Corporate Productivity.

This author asserts that a model should consist of a basic dashboard that clearly outlines the economic assumptions the company has made to support its model, and make sure it can be easily changed if the economic atmosphere changes in the future.

Article Quote:

“Strategic planning can help identify likely scenarios that the organization should be planning for; finance understands the labor costs and financial requirements for each likely economic scenario; and HR, of course, knows the labor market and the skill levels of the organization’s people.”

Link:http://www.hreonline.com/HRE/story.jsp?storyId=305177010

Incorporating work-force planning into the strategic planning process will keep it dynamic and adjustable to change. Models are only good if the assumptions built into them are accurate. Strategic planning technology can save frustration and provide clarity on objectives and their performance by incorporating scenario planning with the ability to track results. This allows businesses to remain flexible when factors change.

For more information on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

The article speaks about how a business can be ran by illiterate management, but will never grow or become competitive within their market without the study of business management. The author points out that a successful company still needs intellectual executives, finance managers, and HR managers to remain competitive.

Article Quote:

For more information about strategic planning technology, see http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

I liked the article because it highlights the importance of the “human” in management.  Finding and keeping talented employees that mirror you company’s beliefs and goals is not an easy thing to do. The author points out the importance of flexibility and recognition in increasing morale. He also adds that large corporations need, either on a contract basis, or as a permanent addition to your team, an expert in HR strategy because it will ultimately save you time and money.

Quote:

“Believe it or not, it is not your product, nor is it your enormous brain or fantastic location – it’s your workers! Without them nothing happens – you can’t do it all! Without strategic management, retention of your staff can be difficult. Going through the ordeal of replacing an unhappy staff member can cost up to three times their original annual salary. Couldn’t that money be better spent on trusted, loyal employees that reflect your business values? “

Link: http://syamhrfiles.blogspot.com/2009/11/hr-strategy-to-keep-your-workers-happy.html

Effective communication will not only create emotional satisfaction, it will translate into increased productivity.  Any which way you look at it, an investment in your workers happiness via quality strategy planning, will reap major rewards for your overall business performance. Strategic planning technology wrapped up into one application can be the communication bridge between executives and employees.

For more information on strategic planning technology, see http://www.managepro.com/executestratplan.html