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 | 7-Steps to Effective Strategic Planning Ebook | |
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 | |  | | E-book Category: Business
E-book Title: 7-Steps to Effective Strategic Planning
Book Description: The key benefits you can get from this presentation slides which are categorized as chapters are follows:-
Step 1 - Review or develop Vision & Mission
Able to obtain first hand information from various stakeholders (Shareholders, customers, employee, suppliers communities etc).
You will be able to use the templates to evaluate how the stakeholders think about your organization. To find out whether their action are aligned with the organization's objectives.
To review or develop company's Vision and Mission with the involvement of other stakeholders to ensure it is still current with the business changes and new challenges. Also use this session as a mean for communication.
Step 2 - Business and operation analysis (SWOT Analysis etc)
One of the key consideration of strategic planning is to understand internal (own organization) Strengths and Weaknesses as well as external Threats and Opportunities. These are commonly known as the four factors of a S.W.O.T. analysis. In this ebook, they are used extensively to evaluate the company's health and wealth and generate ideas for strategies.
Get involvement from various stakeholders to provide their points of view about your organization. In the process, you will gain better buy-in from these implementator of strategies and policies.
Step 3 - Develop and Select Strategic Options
You will be able to use the templates provided to develop several key possible strategies to address the organization's objectives. More important, these possible strategies are develop based on the inputs from stakeholders (step 1) and Business and Operation analysis (step 2).
It is often several possible strategies are developed and everyone of them seems important. Since it is quite normal that an organization would have several key issues to tackle, you will be able to use a proper tools to select a few from the possible strategies. You will b e able to apply several prioritizing tools as introduced in this step.
Step 4 - Establish Strategic Objectives
During this step, you will be able to view the overall picture about the organization and able to select a few strategic options objectively. Template is provided for you to understand various strategic options, set key measures and broad time line to ensure the selected strategic options are achieved.
While it is quite common that measures and timelines are given by top management, it is the intention of this step 4 that these measures and timelines are SMART . What it meant was Specific (S), Measurable (M), Achievable (A), Realistic (R) and Time-bound (T). when the strategic options are SMART, it will help to ease the communication toward the lower level of the organizational hierarchy for implementation.
Step 5 - Development Strategic Deployment Plan
Many organization failed to realize its full potential of its strategies are due to weak implementation. In this Step 5, a proper deployment plan is developed to implement these strategies.
Key concepts of communication and getting buy-in for implementation of strategies are included in this ebook include alignment and setting key activities, targets and timeline.
Step 6 - Establish Resource Allocation
Very often, management team assigned selected strategies to key personnel and left it to the individual to carry out the task. While most organizations operate with minimum resources, it often ends up work overloaded by individual.
Step 6 deals with proper allocation of resources based on company's strategic priorities. In certain aspect, it deals with cross functional team to take on the task of each selected strategic objective. It is the management team decision to allocation resources based on these needs.
Step 7 - Review
One of the key success factors for an effective strategy deployment is constant review of its progress and make decision for any deviations to plan. It is vital to decide what to review and with who the review is done.
New decision may be required as the status of the strategies progressed.
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