Strategic Planning Product


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Strategic Planning Product

  1. 1. Strategic Planning: What Is It? Key Pieces To The “Planning” Puzzle? Why Engage? <br />Written & Prepared By: <br />Philip C. Hickmon<br />1<br />
  2. 2. 7/8/2010<br />
  3. 3. What Is Strategic Planning?<br />It is a road map of sorts…<br />This is where organizations large and small, define critical business strategies.<br />Helps to provide direction and focus for all parties. <br />“The best way to predict the future is to create it.“<br /> ~ Peter F. Drucker<br />7/8/2010<br />
  4. 4. Why Do Organizations “Strategically Plan?”<br />Organizations that perform at the highest levels have some sort of formalized strategic plan in place<br />Implementation is critical—if you don’t allocate resources to vital functions you will flounder in attempts to be successful and competitive<br />7/8/2010<br />
  5. 5. Mission (Purpose)<br />The “mission statement,” is a concise statement of “what business we’re in.” <br />Usually has both an internal dimension (a description of functional activities, products and services) and an external dimension (an answer to the question, “Who buys it, and why?”). <br />Defines organization’s “playing field” and sets the stage for the strategies which follow<br />7/8/2010<br />
  6. 6. Vision determines the DIRECTION of the organization<br />Vision must reflect values and culture. This is “who we really want to be, which includes our dreams and aspirations.” <br />A well-articulated vision should always balance the risks of choosing an alternative strategy.<br />In other words: There mustalways be room for opportunity which leaves open the possibility of new strategies (emerging) <br />7/8/2010<br />
  7. 7. Values<br />Traits or qualities that are considered worthwhile; they represent an individual’s highest priorities and deeply held driving forces<br />Core values--Governing Values <br />In other words:How we want people to behave with each other in the organization, how the organization will treat customers, providers, suppliers and the community<br />7/8/2010<br />
  8. 8. Not “Strategically Planning” IS Costly<br />Leading cause of failure in organizations is not having a strategic plan (McKinsey Report) <br />Logic:Wander aimlessly with priorities changing constantly and employees confused about the purpose of their jobs<br />7/8/2010<br />
  9. 9. Why is Wayne Gretzky one of pro hockey's all-time greats?<br />He skated to where the puck was going to be, not where it was<br />He literally anticipated his teammates' moves and competitors' reactions, he dynamically positioned himself to take the shot<br />This strategy has been tested (not just theory)--- a system can make it to the top using a similar approach<br />THE POINT: Failing to look around or ahead is like skating blindfolded. We will never know how close we are to the goal<br />7/8/2010<br />
  10. 10. Analysis w/o Paralysis Is CRITICAL<br />Center on developing plans for the future to develop a sober assessment of your strengths, weaknesses, opportunities and threats as an organization<br />Those areas where you do well will help you to determine what you will attempt to capitalize on. <br />Those areas where you do not do well may be important areas for improvement strategies<br />The key is to obtain both external and internal input. <br />7/8/2010<br />
  11. 11. What Do You Have Without “Sound” Planning<br />Have to rely upon the short-sightedness of our competition. <br />Expectations are developed in a void.<br />Don’t simply gather hard data to draw conclusions, soft data counts too.<br />7/8/2010<br />
  12. 12. Implications Of Building A Framework<br />Solidifies Alignment<br />Communication with key business systems and processes<br />Gives Organization an Advantage <br />Strategic planning is a way to make a little of your own luck $$$<br />7/8/2010<br />
  13. 13. “You cannot understand the parts of a system if you do not investigate the component parts of a whole and their relations in making up the whole.” ~ Unknown<br />7/8/2010<br />Why Get “Involved” In A Strategic Planning Process? <br />
  14. 14. How Do You Partner With Stakeholders?<br />Partner and Commit: See it through with them <br />Pay Care to the fundamentals of Strategic planning<br />Mission: Your purpose<br />Vision: Desired future<br />Food For Thought: <br />Learn before You leap: Don’t assume<br />Focus Q: Is what we want to do fiscally responsible? What is the worth and value? <br />Keep the communication drivers real and simple <br />7/8/2010<br />
  15. 15. Measure EVERYTHIING<br />To track the implementation schedule, budget and progress, use a measurement system from productivity to rate calculations. <br />Compare against financial summary<br />Anything that costs $$ is relevant<br />Consider using a system that also measures the intangibles--management effectiveness, innovation and potential for further progress<br />This is actually moving from strategic planning to strategic management<br />7/8/2010<br />
  16. 16. Let’s Put The Puzzle Together…<br />Why do we exist as an organization? Our Mission Statement. <br />Where should we start? SWOT Analysis. <br />Focus on internal and external stakeholders--core processes<br />Where Are We Going? Vision Statement<br />What would tell us if we arrived? Metrics (measure performance on EVERYTHING—satisfies the business case)<br />7/8/2010<br />
  17. 17. The End<br />Some Parting Wisdom……<br />In my experience, I have realized that strategic planning is a tool, not a substitute for the exercise of judgment by leadership.<br />7/8/2010<br />