Summary:

Strategic planning, more than anything else, is what gives direction to an organization. It is the process of developing and implementing plans to reach desired goals and outcomes. Involvement and buy-in from key personnel is essential for successful implementation. Employees are far less likely to buy into a strategic plan if leadership isn’t fully behind the plan.

Once a solid strategic plan is developed,  implementation of the plan requires clearly defined and specific objectives that can be translated and broken down into daily objectives. Once objectives are set, accountability for achievement is critical.

A few of the key ten common mistakes in strategic planning include: A Dart Board approach that generates numerous initiatives but no means for implementation; Failure to involve employees form all levels of the organization; Developing vision, mission and value statements but no real actionable foresight as to what the business needs to look like 5 to 7 years into the future; Failing to make the tough choices and holding people accountable; and Lacking specific Key Performance Indicators (KPIs) and measuring only what’s easy, not what’s important to the success of the strategic plan. For a complete list of the ten common mistakes to avoid, see the link below.

Article Quote:

“Strategic planning is a creative process the starts with the visionary creativity of the owner or CEO. The fresh insight it engenders might very well alter past initiatives.”

Link: http://www.smallbizupdate.org/strategic-planning-key-success-factors-and-how-to-avoid-ten-common-mistakes/

The best strategic plan won’t get far without a “roll out process” that includes maintaining accountability, visibility of the plan and a centralized effort by leadership to see the plan to fruitation.

Present the plan so that everyone in the organization understands not only what the strategy is, but also their role in executing the strategy.

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