Join Mike Figliuolo for an in-depth discussion in this video Next steps, part of Strategic Planning Foundations.
- Now that I've introduced you to the strategic planning method, you have some clear next steps. First, assemble your team and dedicate resources to the planning effort. And that's not just the leadership team, but that's folks from finance, IT, HR, ones who are going to help you assess your initiative portfolio. Next, conduct your planning efforts and then assign resources to run this process going forward. Both running the strategic planning process, which you need to do annually, and running the ongoing prioritization process to evaluate new ideas. Set regular strategy reviews and check in at least quarterly to make sure your strategy is on-track and there haven't been any major shifts in the market. And last, conduct this process every year. It was okay 10 or 20 years ago to do strategic planning every three to five years. The market moves too fast now. You should be refreshing and validating your strategy on an annual basis. Strategic planning is a critical element of success. You have limited resources in a very competitive environment. But if you go through this process and do it well, you're not only going to survive, your organization can thrive. If you'd like help with your strategic planning efforts, feel free to reach out to me at thoughtleadersllc.com. Thanks.
- Define the principles of strategic planning.
- Identify forces used to assess the market.
- Explain how to conduct a SWOT analysis.
- Articulate how to establish guiding principles and set goals.
- Explain what strategic filters are used for.
- Describe the steps of a strategic planning process.