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Synergy-Strategic Planning
- 1. Strategic Planning: What Is It? Key Pieces To The “Planning” Puzzle? g Why Engage? Written & Prepared By: Philip C. Hickmon CEO and President of Synergy Allied LLC 1
- 2. 9/19/2007
- 3. What Is Strategic Planning? It is a road map of sorts… This is where organizations large and small, define critical business strategies. Helps to provide direction and focus for parties. all parties “The best way to predict the future is The to create it.“ ~ Peter F. Drucker 9/19/2007
- 4. Why Do Organi ations Organizations “Strategically Plan?” Organizations that perform at the highest l hi h t levels h l have some sort of formalized strategic plan in place Implementation is critical— critical—if you don’t don t allocate resources to vital functions you will flounder in attempts to be successful and competitive 9/19/2007
- 5. Mission (Purpose) The “mission statement,” is a mission statement concise statement of “what what business we’re in.” Usually has both an internal dimension (a description of di i ( d i ti f functional activities, activities, products and services) and services) an external dimension (an answer to the question, “Who buys it, and why?”). Defines organization’s D fi i ti ’ “playing field” and sets the g g stage for the strategies which follow 9/19/2007
- 6. Vision determines the DIRECTION of the organization Vision Vi i must reflect values and t fl t l d culture. culture. This is “who we really want to be, which includes our dreams and aspirations ” aspirations.” A well-articulated vision should well- always balance the risks of choosing an alternative strategy. In other words: There must always be room for opportunity opportunity which leaves open the possibility of new strategies (emerging) 9/19/2007
- 7. Values Traits or qualities that are considered worthwhile; ; they represent an individual’s highest p priorities and deeply held py driving forces Core values--Governing values--Governing Values In other words: How we want people to behave with each other in the organization, how the organization will customers, treat customers providers, suppliers and the community 9/19/2007
- 8. Not “Strategically Planning” IS Costly Leading cause of failure in organizations is g not having a strategic plan (McKinsey R (M Ki Report) t) Logic: Wander aimlessly with priorities changing constantly and employees confused about the purpose of their jobs 9/19/2007
- 9. Why is Wayne Gretzky one of pro hockey s all- hockey's all- time greats? He k t d to h H skated t where th puck was the k going to be, not where it was He literally anticipated his teammates'' moves and d competitors' reactions, he dynamically positioned himself to take the h t t k th shot This strategy has been tested (not just theory)--- a system can make it t the top using a similar to th t i i il approach THE POINT: Failing to look around or ahead is like skating blindfolded. We will never know how close we are to the goal 9/19/2007
- 10. Analysis w/o Paralysis Is CRITICAL Center on developing plans for the future to develop a sober assessment of your strengths, weaknesses, opportunities and threats as an organization Those areas where you do well will help you to determine what you will attempt to capitalize on. Those areas where you do not do y well may be important areas for improvement strategies The key is to obtain both external and internal input. input 9/19/2007
- 11. What Do You Have With t “Sound” Without “S d” Planning Have to rely upon the short- sightedness of our competition. Expectations are E t ti developed in a void. void Don’t simply gather hard data to draw conclusions, soft l i ft data counts too. 9/19/2007
- 12. Implications Of Building A B ildi Framework Solidifies Alignment Communication with key business systems and processes Gives Organization an Advantage Strategic planning is a y way to make a little of your own luck $$$ 9/19/2007
- 13. Why Get “Involved” In A Strategic Planning Process? “You cannot understand the parts of a system if you do not investigate the component parts of a whole and their relations in making up the whole. whole.” ~ Unknown 9/19/2007
- 14. How Do You Partner With Stakeholders? Partner and Commit: See it through with them Pay Care to the fundamentals of Strategic planning Mission: Your purpose Vision: Desired future Food For Thought: Learn before You leap: Don’t assume Focus Q: Is what we want to do fiscally responsible? What is the worth and value? Keep the communication drivers real and simple 9/19/2007
- 15. Measure EVERYTHIING To track the implementation schedule, schedule budget and progress, progress use a measurement system from productivity to rate calculations. Compare against fi C i t financial i l summary Anything that costs $$ is relevant Consider using a system that also measures the intangibles-- management effectiveness, innovation and potential for further progress This is actually moving from strategic planning to strategic management 9/19/2007
- 16. Let’s Let s Put The Puzzle Together… Why do we exist as an organization? Our Mission Statement. Where should we start? SWOT Analysis. Focus on internal and external stakeholders--core stakeholders--core processes Where Are We Going? Vision Statement What would tell us if we arrived? Metrics (measure performance on EVERYTHING— EVERYTHING—satisfies the business case) 9/19/2007
- 17. The End Some Parting Wisdom…… In my experience, I have realized that strategic planning is a tool, not a tool, substitute for the exercise of judgment by j g y leadership. 9/19/2007