Is Strategic Planning really worth the effort? And is it needed in all types and sizes of organizations? We demonstrate 3 ways that Strategic Planning improves business performance and provide tips on how to use effectively.
This is the first in a five part series on Strategy Execution. The series is comprised of:
1. Strategy Execution
2. Using Metrics to Define Success
3. Job Design and Delegation
4. Performance Management and Communication
5. Coaching and Motivation
This is the first in a five part series on Strategy Execution. The series is comprised of:
1. Strategy Execution
2. Using Metrics to Define Success
3. Job Design and Delegation
4. Performance Management and Communication
5. Coaching and Motivation
Multiple studies have shown that there is a vast gap between corporate ambitions and
their ability to realize them. As much as 90% of all companies fail to achieve their strategic
goals, even though they have often developed detailed strategic plans with much higher
targets, than they realize. Why does this vast and persistent gap occur, and how can
companies avoid succumbing to the challenge and damaging the chance of realizing their
ambitions? That is the focal point of this thesis.
There are many causes of the gap between strategy formulation and strategy execution.
This thesis proposes two key sources; the architecture of the strategy execution process,
and a range of execution syndromes or lock-in effects, which are often the results of a
combination between the organizational configuration and management malfunction.
The architecture of the strategy execution process is often a rather neglected and ignored
part of the strategy process. The strategy typically goes right from formulation to
implementation, without truly considering the structure of the process. The two most
important elements of the strategy execution process architecture are; translation of the
strategy into manageable actions and steps and continuous adaptation of the strategy to
the corporate context.
The other main sources of strategy execution collapse – the execution syndromes - are
often difficult to detect, since they only slowly become an inherent part of the
organizational culture and composition. Like diseases, they slowly consume almost any
chance of successful strategy execution, leaving the organization paralyzed and unable to
leverage more than only incremental results. The execution syndromes covered in this
thesis are: The Resistance Syndrome, Motivation Syndrome, Development Hell
Syndrome, Groupthink Syndrome and the Underperformance Syndrome.
Organizations need three things to successfully bridge the gap between strategy
formulation and strategy execution: A structure for the strategy execution process, a
constant focus on avoiding the lock-in effects that damage strategy execution and a
method to institutionalize the strategy execution process.
Introduction to strategic planning
Dr. Salim Hajje conference about Strategic Planning, he helped many private companies & government organizations to formulate and implement their: Vision, Mission, KRA, Goals, Objectives, Tasks, Strategies &Tactics-
Paul V Greene - What kind of Business Planning need something to doPaul van Greene
Paul V Greene Business planning Operational plans are often described as single use plans or ongoing plans. Single use plans are created for events and activities with a single occurrence.
Strategic plans are prepared at different levels using different approaches, but the ones mentioned below are 5 important elements of a good strategic plan.
Strategic integrity is established by aligning strategy and execution at all levels of the organization. Strategic integrity is driven by specific approaches to organization, planning, and decision making.
Multiple studies have shown that there is a vast gap between corporate ambitions and
their ability to realize them. As much as 90% of all companies fail to achieve their strategic
goals, even though they have often developed detailed strategic plans with much higher
targets, than they realize. Why does this vast and persistent gap occur, and how can
companies avoid succumbing to the challenge and damaging the chance of realizing their
ambitions? That is the focal point of this thesis.
There are many causes of the gap between strategy formulation and strategy execution.
This thesis proposes two key sources; the architecture of the strategy execution process,
and a range of execution syndromes or lock-in effects, which are often the results of a
combination between the organizational configuration and management malfunction.
The architecture of the strategy execution process is often a rather neglected and ignored
part of the strategy process. The strategy typically goes right from formulation to
implementation, without truly considering the structure of the process. The two most
important elements of the strategy execution process architecture are; translation of the
strategy into manageable actions and steps and continuous adaptation of the strategy to
the corporate context.
The other main sources of strategy execution collapse – the execution syndromes - are
often difficult to detect, since they only slowly become an inherent part of the
organizational culture and composition. Like diseases, they slowly consume almost any
chance of successful strategy execution, leaving the organization paralyzed and unable to
leverage more than only incremental results. The execution syndromes covered in this
thesis are: The Resistance Syndrome, Motivation Syndrome, Development Hell
Syndrome, Groupthink Syndrome and the Underperformance Syndrome.
Organizations need three things to successfully bridge the gap between strategy
formulation and strategy execution: A structure for the strategy execution process, a
constant focus on avoiding the lock-in effects that damage strategy execution and a
method to institutionalize the strategy execution process.
Introduction to strategic planning
Dr. Salim Hajje conference about Strategic Planning, he helped many private companies & government organizations to formulate and implement their: Vision, Mission, KRA, Goals, Objectives, Tasks, Strategies &Tactics-
Paul V Greene - What kind of Business Planning need something to doPaul van Greene
Paul V Greene Business planning Operational plans are often described as single use plans or ongoing plans. Single use plans are created for events and activities with a single occurrence.
Strategic plans are prepared at different levels using different approaches, but the ones mentioned below are 5 important elements of a good strategic plan.
Strategic integrity is established by aligning strategy and execution at all levels of the organization. Strategic integrity is driven by specific approaches to organization, planning, and decision making.
Making Strategy Work for Entrepreneurssohailgondal
Challenge: Traditional strategic planning approach fails to handle the ambiguity, uncertainty and complexity prevailing in entrepreneurial environments. Consequently, these barriers become the reason for entrepreneurs to jettison robust strategic thinking or management
Way Forward: An effective strategic planning capability can do more than address the common and predictable issues that cause a new ventures demise. This paper defines an agile approach to strategy that balances the rigor and speed entrepreneurs need.
The Importance of Developing a Strong Business Strategy.docxMARKEF
Every business has natural weaknesses within all organizations for various reasons. What a business strategy does is try to remedy these weaknesses so that companies don’t trip up and suffer their impact too greatly. The strategy helps us define our business, gives it a set of values, and gives it purpose and provides a roadmap for our business, shows us our destination, and identifies useful stopping points along the way.
A business strategy refers to all the decisions taken, and actions undertaken by a business for achieving the larger vision. Precisely, it is the backbone of every business, and any shortcomings could mean that the business goals get lost midway.
Remove barriers to employee motivation for quick wins in performanceNMC Strategic Manager
If there are barriers to motivation in your workplace (and chances are - there are!), removing those barriers can create instant improvement in employee performance without adding anything! #employeemotivation #employeeperformance
Get out of the cycle of unproductive performance reviews by developing a culture of performance excellence in your workplace. We outline 5 actions that managers can take for a sustainable and positive approach to improve employee performance. #employeeperformance #businessperformance
How can managers create consistently great results in their organization? Performance Planning & Management provides a framework for setting meaning and measurable goals at all levels of the organization. And the ability to monitor, evaluate and report on performance. This clarity and focus ensures that all parts of your organization are working in the same direction - which leads to increased productivity, reduced conflict and greater employee engagement and satisfaction.
Making effective decisions is an essential management skill. But with increasing complexity in the workplace, and the need to involve others - you really need some specialized processes and techniques. You need a proactive approach. Here, we outline 3 essential steps to develop an effective decision-making process in your workplace.
A convenient new approach to professional development for busy managers. Learn the specific skills you need, WHEN you need them with brief, highly focused lessons. This presentation outlines an approach whereby managers can greatly improve their management skills with as little as 30 minutes per week. It also includes a link to a video virtual tour of the courses.
Leading Diverse Teams: Relationship of Diversity and Team PerformanceNMC Strategic Manager
Part 3 in our mini series on Cross Cultural Leadership investigates how diversity impacts team performance, and what leaders can do to empower diverse teams in the workplace.
Understand the Challenges of Cultural Diversity in the WorkplaceNMC Strategic Manager
Part 2 in our mini series on Cross Cultural Leadership examines some of the barriers that can arise due to Cultural Conditioning. And we provide tips on how leaders can become aware of and overcome their own cultural conditioning.
What IS Cross Cultural Leadership? And How Does it Benefit the Workplace?NMC Strategic Manager
Part 1 of our mini series on Cross Cultural Communication introduces what it is and the benefits to organizations of all types and sizes for leading a diverse workforce.
To keep your organization relevant and successful for the long term, you need to develop capacity in strategic management throughout - not just at the top! We share some tips on professional develop for strategic managers, and specialized topics in strategic management training.
We want to improve intercultural communication to develop relationships with diverse customers, partners and employees. But what are the main obstacles? It may not be the obvious ones! Learn how to recognize and remove this unconscious barrier to intercultural communication.
Gain influence and cooperation through a strategic approach to communication in the workplace. This slide deck is based on the first lesson in our mini course
In this first lesson from our How to Lead Strategic Planning course, we describe the definition and purpose, and use an example most everyone can related to.
Successful Business transformation and the need for Change Leadership SkillsNMC Strategic Manager
You probably know that business transformation can be difficult. But what change leadership skills do you need? And what's the best approach to training? This presentation provides some tips and recommendations on where to focus.
Strategic Thinking is critical to the long term success of organizations. But how can you develop these skills in your managers and leaders? Here, we introduce how focusing on strategic management skills can provide a framework. And we provide 5 tips for ensuring the you implement a successful approach to strategic management training.
An introduction to the purpose, concepts and components of Performance Planning and Management. We look at tools for both business unit and individual employee performance.
When each employee performs well, your business unit achieves maximum results. Here we introduce how performance management and planning increases employee performance. I outline the 3 major techniques for managers.
4 Simple (but highly effective) Steps for Manager to Improve Employee EngagementNMC Strategic Manager
Engaged employees are more likely to perform better, contribute more and stay with your organization. Here we share simple but highly effective tips for managers.
How Managers Can Overcome 3 Systemic Barriers to Effective CommunicationNMC Strategic Manager
In addition to technical barriers, there may be systemic barriers in your organization that prevent effective communication. Learn 3 major barriers and how managers can overcome them.
Artificial intelligence (AI) offers new opportunities to radically reinvent the way we do business. This study explores how CEOs and top decision makers around the world are responding to the transformative potential of AI.
Modern Database Management 12th Global Edition by Hoffer solution manual.docxssuserf63bd7
https://qidiantiku.com/solution-manual-for-modern-database-management-12th-global-edition-by-hoffer.shtml
name:Solution manual for Modern Database Management 12th Global Edition by Hoffer
Edition:12th Global Edition
author:by Hoffer
ISBN:ISBN 10: 0133544613 / ISBN 13: 9780133544619
type:solution manual
format:word/zip
All chapter include
Focusing on what leading database practitioners say are the most important aspects to database development, Modern Database Management presents sound pedagogy, and topics that are critical for the practical success of database professionals. The 12th Edition further facilitates learning with illustrations that clarify important concepts and new media resources that make some of the more challenging material more engaging. Also included are general updates and expanded material in the areas undergoing rapid change due to improved managerial practices, database design tools and methodologies, and database technology.
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Oprah Winfrey: A Leader in Media, Philanthropy, and Empowerment | CIO Women M...CIOWomenMagazine
This person is none other than Oprah Winfrey, a highly influential figure whose impact extends beyond television. This article will delve into the remarkable life and lasting legacy of Oprah. Her story serves as a reminder of the importance of perseverance, compassion, and firm determination.
Oprah Winfrey: A Leader in Media, Philanthropy, and Empowerment | CIO Women M...
3 Ways Strategic Planning Improves Business performance
1. Debbie Narver, BSc MBA MScIB
Strategic Management Instructor at NMC Strategic Manager
Is Strategic Planning
really worth the
effort?
3 Ways that Strategic
Planning can improve
business
performance.
2. Is Strategic Planning worth the effort?
Proponents point to examples
of where effective strategy
lead to superior performance.
Critics argue that it may be
too rigid.
So which is true?
3. In their meta-study of 26 previous published
studies, C. Chet Miller and Laura B. Cardinal
demonstrated that strategic planning has a positive
impact on business performance.
Source: Strategic Planning and Firm Performance: A synthesis of more than two
decades of Research, published in Academy of Management Journal, 1994, Vol.
37, No. 6, pp 1659-1665
4. Why Doesn’t it Always Work?
I believe the reasons that
planning fails or is less effective
are due to:
1) An ineffective planning
process
2) Failure to execute
(implement)
5. Is Strategic Planning relevant for all types
and sizes of businesses?
Business of all sizes – from
single owner/operator to multi-
national enterprises, need a
strategy.
But there can be some
differences depending on the
nature of your industry.
6. Different measures of performance
While the financial “bottom line”
is usually critical in private
enterprise, there can also be
other important aspects of
success.
For example: respected in the
community, employer of choice..
7. Different measures of performance
Not-for-profit, public service,
academic and other unique types of
organizations will each have their
own definition of success and
performance.
So strategy can (and should!) be
designed around the vision and
goals of your organization.
8. 3 Ways that Strategic Planning leads to superior
business performance
9. 1) Creates Focus
Ever feel like you are going
in many directions, but not
making progress?
When we try to be all things
to everyone – we almost
never succeed!
We use up our resources
without seeing significant
return.
10. By having the clear direction of a strategy, we
know the exact actions and sequencing that we
need to follow to achieve our goals. We can focus
our limited resources on these actions. And often,
the more we focus on specific actions, the better
we become at it. That is, we get more
efficient. Thus, there is an additive performance
improvement over time.
11. 2) Reduces Risks
Effective Strategic plans
use extensive research
and analysis.
This knowledge prepares
you to either mitigate
risks or put processes in
place to minimize the
impact.
12. One of the biggest risks that is often over looked is
allowing your core competencies to erode. Often,
businesses don’t have a clear understanding of their
true strengths. And so they focus on the wrong
things.
For example, often the first thing to go in budget
reductions are training, research & development. So
if these were actually your core competencies (and it
often does lie in unique knowledge..), you trade a
short term gain but eventually lose your competitive
edge.
13. 3) Guides Decision
Making & Operations
When the strategy is
effectively communicated,
everyone knows the end
goal.
When you are faced with
numerous demands, it’s
essential to know what you
can say NO to.
14. By communicating this down through all levels of the
organization, employees can be empowered to find
new and better ways of achieving your goals. They
may find efficiencies, or innovative new
approaches. And it can help them in communicating
with customers and other stakeholders when they
understand the focus and the value of your
strategy. By knowing their direction, it can help
reduce the inefficiencies of reacting to different
interest groups.
15. But it doesn’t end here. Strategic Plans need to
be IMPLEMENTED!
17. Summary on Strategic Planning for Improved
Business Performance
1. All types and sizes of organizations need a strategic plan, but
the scope and approach can be different
2. Be sure to us EFFECTIVE strategic planning techniques that
involve thorough research and analysis.
3. Base strategy on your UNIQUE vision, values and
competencies.
4. Develop strategic management and leadership skills within
your organization to ensure plans are implemented.
18. Learn more about Strategic Planning &
Management
Visit our website, follow our blogs and
sign up for our free enews
www.nmcstrategicmanager.com