Seven step approach to strategic planning
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A seven step approach to strategic planning. Keeping it simple. Highlighting the need to recognize that the process is a living process if one is to realize the vision. 7 simple steps and 5 key characteristics for success.
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Seven step approach to strategic planning
Editor's Notes
- My seven step approach to strategic planning. Keeping it simple, alive and adaptable. This should not be an event and stored in the senior management files. To realize the vision and strategy, it should be treated as a living thing ie ALIVE and ACTIONED. In this presentation I describe my seven step approach to strategy.
- The seven steps are scan, vision, strategy, objectives, plan, deploy and monitor.
- Scan. Gather data to inform. Internal and External data are key before going into a vision exercise. Regulatory, social, competitive data are a must. Understanding your organizations SWOTs should be presented as part of the data analysis. Make it a team effort. Please forget the Wizard of Oz approach. Gather data to prepare key information and in turn gain critical knowledge for the future.
- 2. Vision: stretch to create. Where are we heading? What is the north star? Is it compelling? Again team approach. You will be amazed what creativity exists in the organization.
- 3. Strategy: Focus to complete. How will that vision be realized? What will be the focus and competitive advantage?
- 4. Objectives: Target to win. SMART objectives. How will the objectives ALIGN with the organization and balanced scorecard. Detailing a strategy map aligned to both the organization and balanced scorecard is key. What are the critical KPIs for the future? And how will we measure when we get there.
- 5. Plan: Scenarios to ensure. So what is the plan? How will the objectives be achieved. BUT what about the different scenarios that can surface? What are the most likely scenario? Critical scenario? What are the plans for those? What is the change management strategy? Communication Strategy? How will the organization ADAPT?
- 6. Deploy: I am a firm believer that people implement what they have been involved in. Engagement is key, if one is to succeed. All the above must have a level of shared ownership.
- 7, Monitor: implement to perform. Implementation not only includes putting the building blocks in place but also monitoring to assess performance. Implementing quick wins to magnify mobilization and value. Monitoring also helps navigate through changes in the environment. The organization must flex its agility and adaptability to ride the change of the environmental forces. Which leads to……
- The 5As. The 5 Attributes which are critical to success.
- The 5 As [Attributes] are Align, Action, Alive, Adapt and Agile. Planning must have these qualities. Everyone has a part in implementing strategy and hence Alignment is key, so that it can be Actioned. Strategy is Alive; it must be integrated into work activities and must have the ability to adapt with the critical changing environment. It must be agile if one is going to win.
- The 7 steps and cyclical and lives with the entire organization.