We’ve mentioned elsewhere the consulting mentor of ours who was fond of saying that strategic planning was, at one and the same time, the most important task you can undertake as a business leader and also “a waste of time.” Of course, what he meant was, like New Year’s resolutions, it’s not the resolving that really matters, it’s whether or not you follow through. Continue reading “Strategic Planning: What’s In It for Me?”
If you’re launching a strategic planning effort in your company, the first step to be completed – assuming you haven’t done so already – is a careful statement of your company’s “core values.” Since, to some, the term “values” suggests abstraction, we find this task strikes some business people as a bit “squishy” or “touchy-feely.” However, no less a hard-nosed business type than Thomas Watson, Jr., the founder of IBM, had this to say on the subject:
“I firmly believe that any organization, in order to survive and achieve success, must have a sound set of beliefs on which it premises all its policies and actions . . . . I believe the most important single factor in corporate success is faithful adherence to those beliefs.” Continue reading “Strategic Planning: Building to Endure by Codifying Your Company’s “Core Values””
“A bad process will beat a good person every time.”
So famously said quality guru W. Edwards Deming, and we agree. We’ve seen it time and time again.
Business processes – such as your budgeting process, your new-product development process, your engineering process, etc., etc. – by definition, cut across multiple business functions, groups or divisions. Continue reading “Business Process Improvement: Wring More Productivity Out of Your Key Business Processes”
It’s not unusual for us to meet leaders who have little patience for the topic of corporate “culture.” That’s understandable. Business executives, by and large, are practical people, who like dealing with concrete facts and data that can drive measurable results – today vs. tomorrow.
Probably the biggest “rap” against strategic planning is that, all too often, it’s an “academic,” “blue-sky” exercise that doesn’t translate into concrete results in the “real world.” While we can’t deny there are probably far too many plans gathering dust on too many shelves, we’d contend this isn’t usually the fault of Continue reading “Your Strategic Plan — Tracking Progress to Ensure Success”
It may sound like the ultimate redundancy, but there’s no denying it: you can drastically increase your chances of success in your strategic planning efforts by “planning to plan.” Here’s the point: you’ll be investing a significant amount of time from the most “expensive” people in your organization in this effort. Continue reading “Strategic Planning: Planning to Plan”
When you launch a strategic planning effort, one of the first questions you need to answer, of course, is: “Who should be involved?” The most typical first response to this question is: “the executive team.” This usually means the CEO and his or her direct reports. And, of course, this is a valid answer – as far as it goes. Problem is, it often doesn’t go far enough and represents a missed opportunity to build ownership beyond the executive suite right from the beginning. Continue reading “Strategic Planning: Beyond the Executive Suite”