Is Your Strategic Plan About to Fail?

TechSoup

Strategy most often fails in implementation. With all the effort that went into developing your new strategy and writing your strategic plan, the hardest part is making the darn thing work! Project Management Operations

How frequently do you update your strategic plan?

thoughtLEADERS, LLC

Our reader poll today asks: How frequently do you update your strategic plan? We refresh more than once per year—13% We update it annually—43% We update every couple of years—19% We rarely refresh it—12% What’s a strategic plan?—13%

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Strategic planning must change with the times

N2Growth Blog

If you’re frustrated by your organization’s current strategic planning and execution processes or the outcomes from that work, you’re not alone. Whether they’re developed in-house or brought in by outside strategy firms, many strategy methodologies are of little value if they don’t keep up with the times. Clearly, it’s time to reconsider how your organization goes about developing and executing strategy at all levels. Your strategy process must deliver fast!

Welcome to Strategic Planning 2.0

N2Growth Blog

As a strategy consultant, I have had the opportunity to review a lot of strategic plans over the years. It’s been truly amazing to discover just how many major organizations develop strategic plans that contain little more than a whole lot of budget estimates and revenue projections. This kind of strategic planning is something that I like to call “ Strategic Planning 2.0 “ Strategic Planning 2.0

Strategic Thinking vs. Strategic Planning

Six Disciplines

Are strategic thinking and strategic planning - the same thing ? While they certainly related and complementary, thinking strategically and planning strategically are two different concepts. Let''s first consider strategic thinking , which involves viewing your organization from a holistic perspective. . Research has determined that strategic thinking can be explained through seven dimensions: A vision of the future. Strategy making.

Reasons Why Strategic Plans Fail

Six Disciplines

In general, strategic plans can fail for two types of reasons: inappropriate strategy and poor execution. Inappropriate or ineffective strategies can occur due to: Failure to define objectives correctly. Lack of creativity in identifying possible strategies. Strategies incapable of obtaining the desired objective. More often than not, however, it''s not that the strategic plans fail - it''s the execution that fails.

Strategic Thinking vs. Strategic Planning

Six Disciplines

Are strategic thinking and strategic planning - the same thing? While they certainly related and complementary, thinking strategically and planning strategically are two different concepts. Let's first consider strategic thinking , which involves viewing your organization from a holistic perspective. Research has determined that strategic thinking can be explained through seven dimensions: A vision of the future. Strategy making.

Strategic Plan(ning) for Organizations: Reviewing, Refining, Repeating

Strategy Driven

Making strategy a process rather than a statement is a key to success. Focus on the process, not the plan. Business leaders trying to plot the future of their companies without a plan often find their business not going exactly where they intended. But a strategic plan for the organization is key if, and only if, it is a living, breathing document to be used frequently. A few years ago, I made a business plan.

Strategy Execution Newsletter - September 2011 - The Strategic Planning Edition

Six Disciplines

Strategic Planning: THIS Time, Do It Differently - Do It Right ! In business, it means closing out Q3, leading to the final quarter of the year, and the annual strategic planning season. How will you approach your strategic planning session this year? Even top-performing companies undertake a time-consuming strategic planning process that unfortunately leaves many executives frustrated with the results. Tis The Season for Strategic Planning.

CEO Gary Harpst on Strategic Planning (podcast)

Six Disciplines

Six Disciplines founder and CEO Gary Harpst recently appeared on Jim Blasingame's Small Business Radio , for an interview focused on strategic planning. Gary Harpst joins Jim Blasingame to discuss the importance of long-term strategy when planning internal projects, plus tips to help you keep strategy planning on your mind.

Strategy Execution Newsletter - September 2011 - The Strategic Planning Edition

Six Disciplines

Strategic Planning: THIS Time, Do It Differently - Do It Right ! In business, it means closing out Q3, leading to the final quarter of the year, and the annual strategic planning season. How will you approach your strategic planning session this year? Even top-performing companies undertake a time-consuming strategic planning process that unfortunately leaves many executives frustrated with the results. Tis The Season for Strategic Planning.

Four Reasons Why Strategic Plans Fail

Six Disciplines

Scott Glatstein, who writes for the American Chronicle, offers this article " Business Strategy Execution: 4 Reasons Why Your Company’s Strategy Isn’t Working.". Your business strategy defines your company’s intent. But articulating a good strategy is only the beginning. Here are four primary reasons why your strategies aren’t living up to their full profit potential: The strategy fails to recognize the limitations of the existing organization.

Create A Business Strategy That Works

Strategy Driven

Having a business strategy is more important now than it ever was before. So, we’re going to try and help you create a business strategy that we think works during these current turbulent times. A Financial Plan. A Marketing Plan. A Sales Plan.

The Big Picture of Business: Putting Budgeting Into Perspective, The Bigger Picture of Strategic Planning

Strategy Driven

The Business Tree : Growth Strategies and Tactics for Surviving and Thriving. Budgets get more attention than the umbrellas under which they rightfully belong: Strategic Planning and Visioning. Budgeting by itself is a minor piece of business strategy. By itself, Budgeting does not constitute full-scope planning and business strategy. Does your strategic plan adequately describe what you do? How diverse is the planning committee?

Communicating Your Strategic Plan - Make Every Word Count

Six Disciplines

How many words does your organization's strategic plan have? How about your strategic position? How many of your organization's team members have ever even read your mission, vision, values, and strategic position? BOTTOMLINE: It's not enough to simplify and make every word count when it comes to your organization's mission, vision, values and strategic position. It's a great way to continually remind and align team members to your organization's strategy.

SWOT or SOAR? – Strategy and tools in business

Rapid BI

Strategy and tools in business appeared first on RapidBI. Management Ai analysis appreciative inquiry Aspirations Diagnostics minifig models+theories Opportunities results SOAR SOFT strategic strategic planning Strategy strategy tool Strengths SWOTTime to SOAR or SWOT? Some people have argued that it is time to move on from SWOT analysis to other things – in this piece we explore SOAR analysis an Appreciative Inquiry tool. The post SWOT or SOAR?

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The Usefulness of SWOT Analysis Before Strategic Planning

Six Disciplines

Step Back , is to get your leadership team to use their experience and judgement to begin narrowing the focus of planning toward your organization's most important strengths, weaknesses, opportunities and threats. The year's strategy should be based upon these. Decide What's Important , where the leadership team updates the strategic direction of the company for the upcoming year -- and, the repeatable cycle of the Six Disciplines strategy execution program begins again

The Usefulness of SWOT Analysis Before Strategic Planning

Six Disciplines

Step Back , is to get your leadership team to use their experience and judgement to begin narrowing the focus of planning toward your organization's most important strengths, weaknesses, opportunities and threats. The year's strategy should be based upon these. Decide What's Important , where the leadership team updates the strategic direction of the company for the upcoming year -- and, the repeatable cycle of the Six Disciplines strategy execution program begins again

OKRs: A Simple But Awesome Strategy to Get Stuff Done

Evolution4all

Often, the strategic plans and goals of the company are too high-level and abstract that employees don’t just feel lost, but also feel discouraged and find lack of purpose. They are strategies used to perform those tasks. Connecting Strategy

10 Steps to Rapid Strategy Implementation

TechSoup

Most nonprofit strategies fail in their implementation. But if you follow these 10 steps, you can rapidly implement your new strategic plan. Want more great news? They don't cost a dime! Project Management Operations

The Big Picture of Business: Goal Setting… An Important Part of Strategic Planning.

Strategy Driven

The Business Tree : Growth Strategies and Tactics for Surviving and Thriving. Adopt a policy of strategic planning. Strategic goals and objectives must filter downward throughout all the organization. 7 Measurements of Successful Budgeting and Planning: The business you’re in. You have and regularly update-benchmark a strategy for the future, shared company Vision, ethics, Big Picture thinking and ‘walk the talk’ About the Author.

3 Steps to Creating an eCommerce Strategy for Your Business

Strategy Driven

For an eCommerce store to be as successful as it can be, the business or individual behind it needs to have a clear strategy. This is because a strategy helps keep the business-focused, and also allows you to measure how your business is doing, which can give you critical insight on how to develop and change your approach in the future. A strategy is an outline of how your store is planning to achieve its goals and improve its market position.

How To Differentiate Your Strategy Through Competence and Talent

Let's Grow Leaders

Many companies have trouble articulating that answer, says Steve Van Remortel, author of the new book Stop Selling Vanilla Ice Cream: The Scoop on Differentiating Your Company Through Strategy and Talent. After helping hundreds of companies build successful strategies, Steve asserts: “There is no difficulty any [.] The post How To Differentiate Your Strategy Through Competence and Talent appeared first on Let's Grow Leaders.

A Budget Does Not A Strategy Make!

Strategy Driven

Let’s see how many of us have been involved in this type of conversation: Strategy Consultant: “ Do you have a Strategic Plan? ” Strategy Consultant: “ Oh, great! ” Strategy Consultant: “ OK, thanks. Strategy Consultant: “ Umm, this isn’t a strategic plan. ”. Strategic Planning is one of those things that every leadership team claims to do, but, few actually perform.

Key Steps To A Successful Business Strategy

Strategy Driven

Before opening the doors to your new business, you need to make sure you have a plan of action and a set of goals in place. Creating a Strategy Plan. As Strategydriven discusses on their website, “Not only does a compelling, well executed strategy align individuals to a common purpose, it ensures that purpose best serves the company’s mission.” This company provides an array of online tools to help businesses develop a strategy plan and how to properly implement them.

Strategy Driven – A Reality Check

Strategy Driven

Most modern organizations claim to be strategy-driven. The Oxford dictionary defines strategy as “a plan of action designed to achieve a long-term or overall aim.” People tend to focus on the word “plan” in this sentence. We think about strategy as the highest-level, guiding plan for an organization, but if we want to objectively determine the strategy of an organization, this is where we’ll hit a problem.

Every Strategy Is Different

Strategy Driven

There may only be minor differences, but these can make a big difference when it comes to planning a marketing strategy. You may think that using an agency is outside of your budget although, to be honest, they are usually very good at putting strategies together. Social media is a brilliant marketing tool and should be part of any strategy to help your business. You just finished reading Every Strategy Is Different !

How To Create An Effective Business Strategy

Strategy Driven

You wouldn’t make a cake without a recipe, you wouldn’t drive somewhere you’ve never been before without looking at the map, and you shouldn’t run a business without a strategy. Some people underestimate the importance of a business strategy and particularly writing it. Writing a business strategy will help you to learn if it is actually possible and what roadblocks might be in your way, meaning that you can fix them and work out how to get around them before you have to.

Effective Strategies For Business Growth

Strategy Driven

There are many effective strategies for growing a business in any industry so consider any of the following when you are ready to take the next step. Leading on from this, adding to your product/service range can be an effective strategy for attracting new customers and retaining loyal, existing ones. Form A Strategic Alliance. Strategic Planning business management Scaling Your Business strategydriven

The “Next Practices” of Strategy-Setting

N2Growth Blog

Are your strategic planning practices flat and uninspired? Have you reduced your planning process to a once per year, budgeting exercise? Do your senior people feel disengaged and removed from your strategic planning? Does the rank and file even understand what’s in your strategic plan? I’ve written extensively about next practices in the past, and, have not described the ways in which they can be used to serve your strategic planning.

Get Off The Strategy Merry-Go-Round

N2Growth Blog

Global Practice Chair, Strategy N2Growth. Most organizations, and even most strategy consultants, are using strategic planning frameworks built for business models that were designed during the industrial age. This should come as no great surprise, given most strategy management frameworks in use today weren’t designed for the times we presently live in. IT’S TIME TO INNOVATE STRATEGY. STRATEGY INNOVATION. By Mark Hefner.

The Big Picture of Business – How Business Advice Turns Into Company Strategy

Strategy Driven

Strategy : planning, tactics, organizational development. Research leads to planning, which is the best way to accomplish tasks and benchmark success. At this level, advisors recommend that sufficient planning be conducted… please take their advice.

What Is the Best Mindful Business Strategy?

Strategy Driven

A new area for mindfulness is how business strategies are developed. Strategy development and mindfulness are a great combination, and the best mindful business strategy starts with a simple concept – Be present. However, many businesses are not present, especially when it comes to making a decision and moving forward with a strategy. Strategically Stuck. The strategic step forward is frozen, and nothing happens. Being Present: A Business Strategy.

Don’t Forget to Connect Customer Service Week with Strategy

Strategy Driven

Or it might be five days riddled with a host of activities that have been carefully planned but focus more on the fun than the functional. In many cases, Customer Service Week falls flat on strategy. As you celebrate Customer Service Week at your organization, ask yourself these three questions to help ensure your initiatives are connected with a larger strategy. Are your planned activities fun and functional?

Alternative Development Best Practice 2 – Organizationally Developed Options

Strategy Driven

Why then are so few employees involved in the strategic planning process? Engaging employees gains their ‘rubber meets the road’ customer and process experiences and earns buy-in it for the plan’s implementation. Therefore, employee involvement in strategic planning is a win-win proposition; the only question remaining is when and where in the process to involve them.