Strategic planning is vital as a result of it supplies a way of course and descriptions measurable objectives. Methods ought to map long-term plans to each goals and actionable steps. It ought to foster progressive pondering in addition to anticipate and mitigate potential pitfalls. Whereas there are numerous frameworks out there to type your plan, I like to make use of the OGSM mannequin. OGSM stands for goal, objectives, methods and measures. It’s a easy software you need to use that will help you put your company imaginative and prescient or technique into motion.
No matter which format you resolve to make use of, I like to recommend beginning the strategic course of by conducting a Strategic Discovery Session. It’s useful to first contemplate the group’s strategic positioning (how the group differentiates itself from its opponents) and the market surroundings surrounding the group after which conduct a SWOT train. Spending time up entrance figuring out how inside and exterior components could impression the group over the size of the strategic plan cycle is a clever funding of time. It helps be sure that a stable understanding of present dangers and alternatives are factored into each the specified outcomes and the ultimate plan.
After finishing this preliminary step, you may formulate your required outcomes. Throughout my time as CEO, my most profitable strategic plans included monetary, individuals and course of — objectives that tied to our total goal. The aim is your WHY. It isn’t solely why the group exists — additionally it is what unites the individuals within the group. Making certain the aim just isn’t solely understood by every member of your group however extra importantly how every contributes to that goal is vital to the entire crew shopping for into the plan. Having your goal entrance and middle as you craft your plan is vital to your success.
As I discussed above, plans also needs to embrace monetary, individuals and course of objectives. Give some thought to the specified outcomes as they relate to monetary objectives together with the human capital and tradition, expertise attraction, retention, worker happiness and wellness, engagement, and growth objectives. Is the monetary purpose achievable? Is it a sufficiently big stretch? Will it encourage individuals? How does it evaluate to the market progress and common return? With regard to individuals, what’s most vital on your group within the coming 12 months? What, on this space, do it is advisable concentrate on to ship in your goal? What’s going to tie the individuals to the aim extra fully?
Some organizations overlook setting PEOPLE objectives and focus solely on the monetary purpose. In my expertise, this doesn’t obtain a sustainable framework for the group.
Lastly, purpose setting also needs to contemplate course of enhancements that assist the aim and supply of the monetary purpose. Together with this in your goal-setting mission will be sure that the strategic course of is extra thorough and sturdy. The extra you may contain operational crew members on this strategic exercise, the extra probably the objectives shall be achieved. Individuals with hands-on operational expertise and perception should be on the desk to make sure one of the best probability of getting the method growth and funding proper.
It goes with out saying that objectives should be MEASURABLE. One of many causes I like OGSM is as a result of measurement is a key issue within the framework. Once more, I encourage you to debate the important thing efficiency indicators and measurable outcomes with operational leaders and people on the grass root ranges. Relying upon how giant a corporation you lead, you could wish to prolong the strategic planning course of to incorporate work groups and/or strategic planning committees to flush out extra detailed motion plans.
As soon as the plan is crafted, the method strikes on to communication, implementation and comply with up. These steps are the place the rubber hits the street and the plan begins to turn out to be a actuality. Subsequent month’s weblog will handle these vital steps. As a pacesetter, I all the time seemed ahead to the strategic planning course of. At the moment I get pleasure from teaching and sharing my experiences with different leaders.
General, the extra inclusive you make the method, the better probability you have got of succeeding.