Ottawa, ON K1Y 1L5, CA

6 Steps to Make Your Strategic Plan Really Strategic

6 Steps to Make Your Strategic Plan Really Strategic

Are you struggling to have a productive strategic plan in your company?
Why is it that when we have managers’ meetings for a strategic planning session, we often emerge with a document that’s devoid of “strategy” and it’s not even a plan?
Every time I participated in a meeting to establish some strategic plans, we ended up with sentences like “how about we do this/ how about we do that” and we never came up with an effective plan.
There was a lack of planning keys, or as I would call it, a “lack of method” here. A method is a systematic or established procedure for accomplishing something, step by step. The helpful thing about methods is that they can be learned. If you follow them step by step, it helps you reach the goal that you are looking for.
To make an effective strategic plan, follow these 6 steps:  

1-Recognize your dependencies, i.e. your key stakeholders, and of course their roles

You’ll think that this will be simple. And in a small business, like a convenience store, there are clients, representatives, providers, and proprietors. But at that point, you have to keep in mind that some of the workers are essentially proprietors, and the complexity grows. The secret is to distinguish their parts. The same group of partners can possess more than one part.

 2-Identify your “target customer” before moving forward

Separating the target client has enormous implications, including for other partner groups. For example, KPMG has contract staff who are qualified to offer services to large companies and government clients. Your key arrangement can’t be all things to all clients. So, take your time here to characterize your target client.

3-Identify what your company wants from each of your key stakeholders

For certain bosses, it initially feels like putting the cart in front of the rider. The explanation for that? They’re so used to speaking operationally, not creatively, that putting “selves” first feels like heresy. Nowhere is this more evident than with “employees.”

 4-To identify what each of these stakeholders wants from you

These are the main decision-making principles used by stakeholders when engaging with your company. This can include, for example, influences that affect the decision to buy from you (customers), work for you (employees), supply to you (suppliers) or invest in you (shareholders).

Each stakeholder community must know how they feel about the other, so you must reflect on their point of view and not your own. This can come from some methods, including in-depth stakeholder interviews, listening to stakeholder reports about their experiences with you and the market, suggestions from the concern and recommendation programs, focus groups, and even informal meetings with stakeholders.

 5-To identify your organization’s position based on strategic factors identified for each stakeholder group

This is influenced by the goals you have established for your company and the information you have gathered about the present and future needs of your partners on strategic considerations. This is where “center” delivers in spades again.

 6-Continuous improvement. Be prepared to adjust!

Understand that no matter what you decide, you do not know what the outcome will be until you start implementing the action plan and scorecard. See your plan as being trapped in an intense tango with your main stakeholders. This diverse outlook promotes transparency, creativity, and willingness to adapt.