Join Mike Figliuolo for an in-depth discussion in this video Establishing an ongoing prioritization process, part of Strategic Planning Fundamentals.
- Once you've been through…your first strategic planning process,…you'll have done a lot of the hard work…because you've defined the filters…for evaluating opportunities…and you've taken that initial list of ideas…that you had before…and filtered and screened…and evaluated all of them.…That's a great deal of work,…don't let that work go to waste.…Put in place an ongoing evaluation process…so when new ideas are brought forward,…you can run them through the process,…assess the idea…and get it onto your prioritization list.…
The way that process works…is first, you have to define an owner for the process.…Somebody should be responsible for…collecting all new ideas…and then running a regular prioritization meeting.…I recommend, at least, a quarterly prioritization meeting.…Anything longer than that,…you're going to have a large backlog of ideas.…Many times you don't have enough new ideas…to run a process like that every single month…so quarterly ends up being about the right cadence.…
This ongoing process consists of,…
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- Avoiding strategic planning risks
- Assessing the market
- Conducting a SWOT analysis
- Defining your direction, mission, and vision
- Determining core competencies
- Evaluating and prioritizing opportunities
- Assessing your initiatives
- Organizing for success
Skill Level Appropriate for all
1. Before You Begin Planning
2. Defining the Strategic Environment
3. Setting Your Strategic Direction
4. Determining How You'll Compete
5. Evaluating and Prioritizing Opportunities
6. Assessing Your Initiative Portfolio
Using a 2x2 matrix2m 56s
7. Organizing for Success
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