//////////////////////////
A
n effective strategy requires
executives to identify areas of
business improvement and assess
the current capabilities of the organisation
to deliver on them using existing resources.
However, companies are realising that past
experiences count for very little in developing
strategies for the digital era.
The rate of technological change and
shifting customer behaviour can often result
in organisations trying to be all things to
all people. Yet, this can often lead to a lack
of focus. This is where the importance of
strategic planning comes in with its role
being to create specific plans of action that
can be delivered across the organisation.
Unfortunately, many confuse business
planning with strategic planning and think
if they do the former well, the latter will
follow suit. Critically, strategic planning
focuses on the big picture – the strategies
a business will implement to reach its
goals and objectives.
Strategic planning benefits
Effective [strategic] planning brings with it
several benefits. These include the ability
for the organisation to be more proactive in
making the decisions necessary to achieve
long-term goals and aligning business with
employee goals.
By sharing the strategic plan to the
entire organisation, management can
ensure everyone will be aware of what is
happening and move in the same direction.
This also makes staff accountable for
delivering on strategy as their individual
performance targets and goals can be
linked to the implementation of deliverables
based on the plan.
Companies will also better be able to
allocate resources (whether those are
human, financial, or technology) in ways
that deliver on the strategy in the most
efficient and consistent ways possible.
Alistair Maxwell, Head of Strategic Planning
at Decision Inc
“
BY SHARING THE
STRATEGIC PLAN
TO THE ENTIRE
ORGANISATION,
MANAGEMENT
CAN ENSURE
EVERYONE
WILL BE AWARE
OF WHAT IS
HAPPENING AND
MOVE IN THE
SAME DIRECTION.
Plan enablement
By having a strategic plan to provide this
guidance, decision-makers can prioritise
those areas of the business they need to
commit resources to and those that need to
take on a lower level of importance. It is all
about enabling better decisions by having
enhanced insights into the organisation.
www.intelligentcio.com
Finding the time to work as a management
team on developing a strategic plan is
often the most difficult aspect of it. Ideally,
the company should be able to dedicate
a few days to it at an off-site location to
minimise distractions.
INTELLIGENTCIO
35