Strategic planning creates the platform for a healthy company.
Strategic planning is a critical part of growing a successful business. A high performance work culture needs a system that makes sure that employee goals are aligned and everyone is focused on the right stuff.
The fact is that many small- to mid-sized companies do not have a structured process from which to conduct strategic planning. This is like many adults who do not exercise, despite knowing it’s good for them. Perfect health isn’t guaranteed by regular exercise, but the likelihood of attaining good health is dramatically increased. Strategic breakthrough business guessing/planning works for businesses in much the same way as exercise works for the individual.
The process should take place over two to three months and take three to four days. It is predicated on white papers and dialogue. Listening and understanding are critical. Better research ensures better debate and thinking. “What is a white paper?” you ask hysterically.
A white paper is a three- to five-page paper that addresses the critical issue. The paper should deal directly with the issues. It is, with research and analysis, the “answer” submitted by the smaller group to the entire planning team.
Once you have created the plan, you need to make sure it is acted upon. Monthly meetings of one to three hours and spending time on objectives and action plans will ensure focus. Then, once a quarter, the planning team should meet offsite, preferably with a coaching resource like yours truly. (Bonus points if the coach is bald-headed. It makes the coach smarter and buffer—really.) At the session, the group will look at what happened in the quarter and then focus on what needs to happen in the next quarter. This will keep everyone aligned on what needs to take place to push the company forward.
Strategic planning is a critical part of growing a successful business. A high performance work culture needs a system that makes sure that employee goals are aligned and everyone is focused on the right stuff.
The fact is that many small- to mid-sized companies do not have a structured process from which to conduct strategic planning. This is like many adults who do not exercise, despite knowing it’s good for them. Perfect health isn’t guaranteed by regular exercise, but the likelihood of attaining good health is dramatically increased. Strategic breakthrough business guessing/planning works for businesses in much the same way as exercise works for the individual.
The process should take place over two to three months and take three to four days. It is predicated on white papers and dialogue. Listening and understanding are critical. Better research ensures better debate and thinking. “What is a white paper?” you ask hysterically.
A white paper is a three- to five-page paper that addresses the critical issue. The paper should deal directly with the issues. It is, with research and analysis, the “answer” submitted by the smaller group to the entire planning team.
Once you have created the plan, you need to make sure it is acted upon. Monthly meetings of one to three hours and spending time on objectives and action plans will ensure focus. Then, once a quarter, the planning team should meet offsite, preferably with a coaching resource like yours truly. (Bonus points if the coach is bald-headed. It makes the coach smarter and buffer—really.) At the session, the group will look at what happened in the quarter and then focus on what needs to happen in the next quarter. This will keep everyone aligned on what needs to take place to push the company forward.
For more information about CMI's Business Planning Process click here.
While I fully support the idea of a strategic planning session, I think you are starting at the wrong end of the equation. As Simon Sinek illustrates, it is most important to "start with why". The "why" is about strategic ALIGNMENT of values and culture. The "what" and the "how" are the manifestations of the "why".
ReplyDeleteI have worked with many organizations over the years on alignment issues. Until those are resolved, the annual strategic plans will continue to gather dust, along with the latest business theories, on the shelves of mediocrity.
@David: Not sure I agree with your assessment of the message in the article. I did not interpret any aspect of the message to suggest that we overlook the 'why' questions or that we start with the 'what' and the 'how.'I believe the message is more about ensuring that the strategic planning process be exercised as a discipline in the first place. Organizations are often so quick to dismiss the real value of strategic alignment and, as a consequence, have no compass on how to achieve it. But I can tell you that in my experience (leaving myself open to the possibility of something different), strategic alignment at the organizational level doesn't happen without an applied disciplined approach.
DeleteBy the way, I don't disagree with your suggestion around starting with the 'why' questions. However, I think it's also worth noting that as a team engages in the process of developing strategy (at whatever level), the questions of 'why,' 'what' and 'how' are often entangled and intertwined. Sorting them out as a team is part of the process - however painful that may be - of achieving alignment. So, as I think about it, making it happen to begin with, i.e., setting aside the time, place and creating and opportunity to do the planning, is the most important place to start.....in my opinion.
Great dialogue and good issues. Do you think the size of the organization matters in this conversation? Does it matter whether the company is publicly held or privately held? Most of my clients are privately held small to midsized privately or family held businesses. This is who I was writing for. I would approach these differently if I am talking about million dollar publicly held companies. What what are your thoughts? Looking forward to hearing from you.
ReplyDeleteI just want to let you know that I just check out your site and I find it very interesting and informative..
ReplyDeleteletter of intent