Summary:

The economic crisis experienced over the past couple years has forced most management teams to focus on the present and manage by crisis. However, crisis management doesn’t prepare your organization for future growth and opportunity. Planning your business’s future is no longer a discretionary decision. If you want to control the destiny of your business then you need to create it!

Strategic planning is a multi-step process encompassing vision, mission, objectives, values, goals, and specific action steps. Once the work of creating the plan is complete, action must be taken to ensure it succeeds.

Leadership should be fully behind and support the plan before presenting it to the organization. Conviction that the plan is going to add value to the company and presenting it in a positive light is essential. However, management needs to be clear to employees that this is the direction leadership is taking the company and it is everyone’s responsibility to do their part to see the plan to completion. Not only will this increase accountability from individuals, but it also fosters as sense of ownership in the company and its ability to thrive and outshine the competition.

Article Quote:

“Take a moment and be honest. Do you have an actionable strategic plan for your business? Do you know where you want to take your business one year from now, five years from now? Do you want to learn how to better manage the inevitable fires while focusing on growth opportunities? Make the commitment with your management team to develop a strategic plan now as your future results depend on it!”

Link: http://www.resourceassociatescorp.com/blog/2010/03/strategic-planning-is-no-longer-a-discretionary-decision/

Executing a strategic plan requires the objectives of the plan to be measurable. Leadership should continually review progress updates and decide if adjustments need to be made. It may be that additional resources are required for specific objectives or that parts of the plan really aren’t adding the value originally hoped for. The ability to make timely course corrections will ultimately save the business from wasting valuable resources.

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

Summary:

The great start to the success of your business strategic planning process is to identify the foundation upon which your business was built. A well defined mission statement and equally communicated vision statement identifying your desired future will make the job much easier. Businesses that set goals relating directly to their mission and vision statements excel over businesses that lack these defined statements.

Both these statements help focus a business in terms of direction, leadership, and goal-setting ; mission and vision statements are the basis for your organization’s strategic planning. Vision and mission statments need to be communicated to customers, employees, and stockholders.

Once the plan of action is decided upon, objectives should be broken down into actionable tasks that integrate into monthly, weekly, or daily activities. Working the plan in this manner keeps it active and assists leadership in making course corrections when internal and external factors present themselves.

Article Quote:

“A periodic review by management of your strategic planning actions will let you know if you have chosen the right strategic activities for your business. Additionally you can also make sure that the strategic planning activities you have chosen to implement are all supportive of your mission and vision statements. Use your mission and vision statements to chart and stay the course.”

Link: http://gfa-ng.com/vision/strategic-planning-begins-with-a-mission-statement-and-a-vision-statement.htm

Mission and vision statements help the organization by providing a foundation from which to begin the strategic planning process. Choose two to three clearly defined goals or objectives, then develop a plan of action. Leadership that can effectively communicating both the strategic plan and each individual’s part in achieving the plan improves results.

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