This week we will walk through a three part series of the strategic planning road map. This example will show you and your organization a simple template to use to reach your organizational goals. Some of these components you will definitely know while others in the context of strategic planning may seem new. I hope you learn a few tricks of the trade and stick around for #7, it’s probably the one you need the most but often forgotten.
A critical part of building a plan is collaborating with all the various stakeholders to identify the right initiatives. To start this process, confirm or change your mission, vision and values. If your strategic plan is the vehicle that gets your from your starting point (mission) to your destination (vision), then you need to make sure those two locations are correct. All team members involved with the plan need to understand the rally cry for the organization’s final destination. After confirming your MVV, organizations poll different stakeholders in the organization around their strengths, weaknesses, opportunities and threats (SWOT Analysis). Organizations populate these sections by conducting an environmental scan for competitors and marketing analysis. This information will be housed in your threats and opportunities sections. Next, conduct an internal assessment of your team member’s skillsets and deficiencies that can populate the strengths and weaknesses sections. By collaborating during this step, you will identify the key initiatives for the year.
Once your critical initiatives have been identified for the year, you will begin to build your plan. We recommend either a five level or four level plan. As you build your plan, create the alignment between the initiatives, the measures of success and the assignments. You will drive accountability and execution because alignment allows all team members understand how they support the organization’s key initiatives.
Now that the alignment has been created and the plan components have been identified, you will assign the accountable team members to the measures of success and assignments. Choosing the right resource as the accountable party is CRITICAL. We recommend assigning the person who will complete the work or is accountable at the end of the day for getting the work done. This person will report out to the rest of the team on their progress and provide remediation action plans to keep the initiative on track. If no assignments are made to the plan, then it is highly unlikely that the plan will be executed effectively.
I hope these first three steps will help you kick start your strategic plan, stay tuned later this week to learn about the other key components.
Until then, happy planning!