Although we’re just a little over a month past the halfway mark of 2018, now is the time to start thinking about strategic planning. Not the plan itself... but the plan behind the development of the plan.Why consider planning for your planning process? Think about how many times you’ve spent weeks (or longer) developing a strategic plan only to lose sight of it a few months into the year. Or perhaps you've ignored the plan completely after roll-out?
In my experience, most strategic plans are ineffective or underutilized because of one (or more) of the following factors:
- Executive teams develop a singular focus on defining OKR’s or KPI’s without an actual supporting strategy.
- There’s no clear understanding of the differences between a “strategy,” an “objective,” and an “action.”
- Managers are often left out of the planning process. Those that are included tend to focus on what they do from a functional perspective and can find it challenging to focus on strategies that deliver value to the organization’s key stakeholders and meet organizational objectives.
- Plans are not reviewed on a quarterly basis to ensure the project or program level activities that drive the strategic objectives are being met.
Want to ensure your 2019 strategic plan is actually impactful? In this short article from Graham Kenny recently published in Harvard Business Review, you’ll gain an understanding of how to correctly frame the strategic planning process by focusing on system design.
You may kick start your planning with an offsite or executive retreat, but consider that the beginning... not the end. Plan on regrouping quarterly to assess what’s working, what’s underperforming and needs attention, and what needs a total reboot.
Need help getting started? Click here to shoot me an email.