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The benefits of 5 year strategic
planning to non-financial managers
versus their time and
effort that this requires.
John Mayfield 1
John Mayfield 2
Content of the presentation
1.Definition -what is strategic
planning
2.The benefits of strategic planning
3.Time & effort required
4.Feedback
5.Improving the process
6.Conclusion
What is strategic planning?
The roadmap to a
business’s future
How are
we going
to get
there
Identifying the
priorities
Clarity:
objectives,
resources,
response.
John Mayfield 3
John Mayfield 4
The benefits of strategic planning
• Purpose of the organisation more clearly
defined
• Improved Communication of goals &
objectives to stakeholders
• Greater ownership, commitment & retention
among employees
• Resource utilisation is improved
• A baseline from which progress can be
measured
John Mayfield 5
Benefits of strategic planning (1)
Measureable output:
• Actions and goals to be achieved
• Resources needed to achieve goals
• Funding needed to obtain resources
• Links to budget & financial/operating targets
John Mayfield 6
Benefits of strategic planning (2)
• Environment. Improved understanding of the
competitive, legal, political etc. environment
• Awareness. Greater awareness of strengths &
weaknesses – capabilities and obstacles to exploit
opportunities, react to threats
• Stimulates change – better prepared for the future
• A more proactive business
• Survival of the organisation.
• Happier stakeholders & superior performance
• Failing to plan is planning to fail
John Mayfield 7
Benefits of strategic planning (3)
John Mayfield 8
The time & effort required
Time & effort required (1)
• Significant. 1 month+.. /people/depth
• Greater effort for the first time
• Time and effort depends on frequency, which
is greater where products, services &
environment are changing rapidly
• Process repeated every 18-36 mo (‘a cycle’)
• Implementation is key / quarterly review
John Mayfield 9
Time & effort required (2)
• The planning process can become long, drawn
out & frustrating
• Interference with day to day operations
• Rigid & routine? Need for a true debate about
where the organisation should be heading
• Good input = better quality output/results
John Mayfield 10
User feedback
John Mayfield 11
Feedback
• Mckinsey survey:
X Only 45% satisfied with the process;
However the process sets operational &
financial targets & identifies priorities for the
management team
Can the process be improved? Probably
John Mayfield 12
Suggestions to improve the strategic
planning process
John Mayfield 13
Improving the strategic planning
process
Management:
• Make better use of time – advance availability
of important financial & operational info’
• Team mix: knowledgeable, with skill set
• Traffic coding /rotation system to ID those
units to undergo full planning process
• Honest, open discussion of difficult issues
John Mayfield 14
Improving the strategic planning
process
Measurement:
• Track strategic decisions not only by financial
targets (lagging indicator), but KPIs – eg. new
product revenue, retention rates
• Compensation linked to progress of new
initiatives – motivates and will identify any
problems early on.
John Mayfield 15
Conclusion
John Mayfield 16
Conclusion
• Failing to plan is planning to fail
• Results in a clearer message, a sense of
purpose & future direction
• Better use of resources
For better return on time & effort:
• Discuss difficult issues, sacred cows
• Measurement of decisions & outputs
• integrate strategic planning process with HR
processes – evaluation & compensation
John Mayfield 17

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The benefits of strategic planning

  • 1. The benefits of 5 year strategic planning to non-financial managers versus their time and effort that this requires. John Mayfield 1
  • 2. John Mayfield 2 Content of the presentation 1.Definition -what is strategic planning 2.The benefits of strategic planning 3.Time & effort required 4.Feedback 5.Improving the process 6.Conclusion
  • 3. What is strategic planning? The roadmap to a business’s future How are we going to get there Identifying the priorities Clarity: objectives, resources, response. John Mayfield 3
  • 4. John Mayfield 4 The benefits of strategic planning
  • 5. • Purpose of the organisation more clearly defined • Improved Communication of goals & objectives to stakeholders • Greater ownership, commitment & retention among employees • Resource utilisation is improved • A baseline from which progress can be measured John Mayfield 5 Benefits of strategic planning (1)
  • 6. Measureable output: • Actions and goals to be achieved • Resources needed to achieve goals • Funding needed to obtain resources • Links to budget & financial/operating targets John Mayfield 6 Benefits of strategic planning (2)
  • 7. • Environment. Improved understanding of the competitive, legal, political etc. environment • Awareness. Greater awareness of strengths & weaknesses – capabilities and obstacles to exploit opportunities, react to threats • Stimulates change – better prepared for the future • A more proactive business • Survival of the organisation. • Happier stakeholders & superior performance • Failing to plan is planning to fail John Mayfield 7 Benefits of strategic planning (3)
  • 8. John Mayfield 8 The time & effort required
  • 9. Time & effort required (1) • Significant. 1 month+.. /people/depth • Greater effort for the first time • Time and effort depends on frequency, which is greater where products, services & environment are changing rapidly • Process repeated every 18-36 mo (‘a cycle’) • Implementation is key / quarterly review John Mayfield 9
  • 10. Time & effort required (2) • The planning process can become long, drawn out & frustrating • Interference with day to day operations • Rigid & routine? Need for a true debate about where the organisation should be heading • Good input = better quality output/results John Mayfield 10
  • 12. Feedback • Mckinsey survey: X Only 45% satisfied with the process; However the process sets operational & financial targets & identifies priorities for the management team Can the process be improved? Probably John Mayfield 12
  • 13. Suggestions to improve the strategic planning process John Mayfield 13
  • 14. Improving the strategic planning process Management: • Make better use of time – advance availability of important financial & operational info’ • Team mix: knowledgeable, with skill set • Traffic coding /rotation system to ID those units to undergo full planning process • Honest, open discussion of difficult issues John Mayfield 14
  • 15. Improving the strategic planning process Measurement: • Track strategic decisions not only by financial targets (lagging indicator), but KPIs – eg. new product revenue, retention rates • Compensation linked to progress of new initiatives – motivates and will identify any problems early on. John Mayfield 15
  • 17. Conclusion • Failing to plan is planning to fail • Results in a clearer message, a sense of purpose & future direction • Better use of resources For better return on time & effort: • Discuss difficult issues, sacred cows • Measurement of decisions & outputs • integrate strategic planning process with HR processes – evaluation & compensation John Mayfield 17