Summary:

Tools like Web 2.0 have made it easier for businesses to gather input from a wide variety of stakeholders, effectively putting all management decisions up for a vote with customers and employees. Ideas from outsiders are great, but should not be a substitute for the experience and knowledge of strong leaders- especially when it comes to strategy. Businesses are not, and should not be democracies.

Strategists should use the tools available, however a strategist also needs to; a) Help anticipate the discontinuous change; b) Develop scenarios in advance so as to be prepared when change occurs; c) Help the company to become proactive in change and help bring about change in a fashion which disproportionately benefits your company.  The general public lacks these skills because they generally have limited knowledge about the specific situation and their ideas are biased towards their limited perspective.

Article Quote:

“Suggestions from the masses tend to be extensions of what they know, which is the old business model. They are not very useful in proactively getting to the discontinuous new. And unfortunately, the discontinuous new is all around us. This is where professional strategists are most valuable.”

Link:http://planninga-from-nanninga.blogspot.com/2009/12/strategic-planning-analogy-301.html

The latest fancy new tools or trends should not be a replacement for Strategists. Strategists are necessary and many companies rely on their expert advise when developing their strategic plans. However, businesses should create an environment that fosters ’strategic thinking’ by everyone in the company because it adds value to the entire organization.

Tactical implementation of strategic plans are almost entirely executed by front-line people within the organization. Thus, getting everyone to start thinking strategically can better enable then to anticipate potential threats and obstacles before it reaches a critical point. It also makes your people better problem solvers and more responsive to changing customer needs.

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

Summary:

Clearly identifying your vision and communicating it consistently and constantly creates an environment that equips and motivates members of the organization to create positive moments of truth experiences for your external customers. All business processes, management practices, and employee incentives should flow from and be in alignment with a clearly defined strategy in order to achieve maximum success. A good strategy is to get a knowledgeable and objective outsider involved in the planning process to allow for an impartial point of view. This creates an opportunity for fresh eyes and new ideas that can inject creativity into the process.

The first step is to ask yourself where do you want to be in five years and why aren’t you there right now? Asking why you haven’t reached yet that success point can be revealing because the reason might be one that you haven’t realized or been willing to face. Understanding where you want to be and why you aren’t yet there is the first step in developing a strategic plan.

Article Quote:

“Your vision gives you a point of reference for evaluating and planning all aspects of your business. You’ll make better and faster decisions when you evaluate every choice by asking, “Does this take me closer to or farther from the attainment of my vision?””

Link: http://alcorp.net/?p=25962

Clarifying vision, goals, and the tactical planning steps needed to get there are what strategic planning is all about. Once developed, however, there are some elements to address in order for the plan to be successfully executed. Getting everyone in the organization on board with the plan increases involvement, thus increasing the chances for success. To keep your plan active, it needs to be integrated with daily tasks and objectives where results can be measured This increases accountability when tasks are not completed and allows for course adjustments when something is not working. A huge mistake is to create a plan where results are rarely measured, for instance- once a year at the next strategic planning session.

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

Summary:

Strategic planning, whether for marketing or other business elements, add value to the business by deciding on future goals and crafting a plan on how to achieve those goals. Without it, you are like the traveler without a  destination or a plan on how to get there.  Most types of marketing are quite expensive so choosing where to advertise and whom to concentrate on should be handled carefully, as a wrong decision can chew up company funds quickly. If you want to learn effective PPC marketing and don’t want to lose your money, this author advises checking out Reality PPC training program.

Article Quote:

“Marketing without planning is just like visiting the place which is completely new to you and that to with no maps. Not just in advertising but it is observed everywhere that people who have concrete plans and who write down their goals are more likely to achieve their goals than people who only have no concrete plans and no definite idea about how they are going to approach.”

Link: http://www.mortgage-leads-generator.com/local-internet-marketing/do-you-think-it-is-essential-to-make-effective-strategic-marketing-planning

Developing your strategic plan requires a clear understanding of the core business values coupled with specifically laid out goals to reach for. When developing your plan, scenario planning and SWOT analysis are helpful in spotting the right opportunities and acting quickly when they present themselves. Additionally, they help to avoid threats and reduce their impact, as a plan for addressing these issues will already be in place.

Moving beyond development of the plan is executing the plan. Successful execution involves getting everyone on board with the plan, following-up on objectives, and making course corrections when needed.

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

Summary:

For many years, corporate social responsibility (CRS) has been viewed by many executives as a passing fad or another source of pressure and for too long have not given it the attention it deserves. That trend is changing and many are now making CRS central to their overall strategies, helping them to creatively address key business issues. The challenge is to develop an approach that can deliver.

However, some innovative companies have managed to overcome this hurdle with smart partnering. Smart partnering focuses on key areas of impact between business and society and develops creative solutions that draw on the complementary capabilities of both to address major challenges that affect each partner. Smart partnering is emerging as one way to create value for both the business and society simultaneously, which is at the heart of corporate social responsibility.

Article Quote:

“For companies that see CSR as an opportunity to strengthen the business, the big challenge is execution. Smart partnering can provide a practical way forward.”

Link: http://www.mckinseyquarterly.com/Nonprofit/Philanthropy/Making_the_most_of_corporate_social_responsibility_2479?gp=1

Businesses developing and implementing CRS as part of the overall strategic plan create better relationships with their customers because they are viewed as a business investing in business as well as investing in society. Shared value creation is achieved through smart partnering ventures. It moves the focus of the business beyond avoiding risks or enhancing reputation, toward improving its core value creation ability by addressing major strategic issues or challenges. The advantage for society is that the focus shifts away from maintaining minimum standards, or constantly seeking funding to improve the overall quality of life, and living standards. The key is for each party to tap into the resources and expertise of the other, finding creative solutions to critical social and businesses challenges.

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

Summary:

This author writes that passion and love are the two driving factors controlling your business success. When you have a passion for doing something, it’s impossible to keep it from your thoughts for very long and once you’ve found this thing, you’ve found your business. Passion is what you need to focus your motivation on. Strategic planning, however, is a bit more complicated than finding the right business for you. It you have never developed a strategic plan, educate yourself and if needed, get help from the experts.

Article Quote:

“Even the most successful people educate themselves frequently, the yearning to learn keeps driving them to a higher plain. The one most important thing to invest in is oneself.”

Link: http://prosperityextreme.com/index.php/turningpoint/strategic-planning-for-business-and-life

Writing a strategic business plan requires taking a good look at the current business and gaining a clear understanding of the company’s strengths, weaknesses, opportunities, and threats, or SWOT analysis. Then, look forward to where you want the business to be and what goals you would like to accomplish in the coming year or couple of years.  Scenario planning will assist in navigating the what-ifs.

Management should expect some resistance to change from employees and should plan for ways to ease this resistance. Finally, management needs to get everyone on board with the strategic plan. The plan should be viewable by everyone and kept active with tasks designed to accomplish company goals.

Strategic planning software that incorporates these features of visibility on the strategic plan, tracking tasks, accountability, and follow-through will keep your plan from gathering dust on the shelf. It also allows for corrective adjustments to be made if something is not working.

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