Strategic planning: Three tips for 2009 — An online discussion
How is your company addressing the issues highlighted by many respondents to a recent Quarterly survey, including balancing short-term challenges and long-term priorities, employing scenario planning effectively, and boosting the frequency of monitoring progress against plans? Read what others have said, then let us know how you are approaching the strategic planning process this year.
- See the related article, "Strategic planning: Three tips for 2009"
- See the survey results (page 2 of the original article)
- Link to this blog post
Those who actually read and try to learn from business history—not only that of the US but also of other countries(especially the UK, Austalia, Canada,and The Netherlands)—find that they are relatively well prepared for the the current financial and political scene. History repeats, even if with a stutter; one does not need to be a genius nor very imaginative to see how similar scenes have played out historically; and to imagine alternative scenarios arising from today’s circumstances. Also, one often avoids making the same mistakes others did. The point is to get a truly longer-term prspective—about 100 years—, not a five or ten year one. It may take some work, but for those who enjoy reading and are prepared to do the unpleasant task of thinking, the benefits are clear.
Posted 16 April, 11:03 PM by Joseph Tovey
Current market conditions create challenges of uncertainty of future trends, market share equation, and micro changes that may drive consumers in different direction. New technologies and product/service innovation will define new competitive landscape in this flat world.
Leaders need to continue to do drive operational excellence beyond boundaries and get ready for new market opportunities. This will define survivors as market leader and other will go under.
Posted 16 April, 09:09 PM by Satish Dave
We are starting to work on the next five-year strategic plan and anticipate using the process as an opportunity to re-design and optimize some of the business models. The rapidly shifting competitive landscape can be positioned as a creative challenge – if we can ensure viability in difficult times, our business units will be that much more nimble and effective, once external conditions improve. The approach rests on two assumptions: a) ability to ensure effective communication with and secure support from all key leaders of business units and b) facilitating higher frequency reporting to inform the process using a scorecard approach.
Posted 16 April, 04:54 PM by Andrey
The management and impact of projects in the strategic plans must be measured before implementation begins. Also we must consider the best practices for projects like PMI for control. This could reduce the risk and time of the projects.
Posted 16 April, 01:34 PM by Edward
We developed and implemented our FY 08-12 Long-range Strategic Plan and Visioning Plan in 2008. It established our competitive ‘meaningful difference’/Value proposition and focused upon our primary industry categories opportunities. For this year (2009), we developed and are in implementation of a FY 09-10 Stragic Business Plan based upon the FY 08-12 Strategic/Visioning Plan. The FY 09-10 Plan reflects a minimum/maximum revenue/PBT goal for the 24 month period based on operating reveunue/expense history and has narrowed our focus upon determining and marketing those major revenue contributors from which we do the very best rather than equal emphasis upon our entire arsenal of market reseach and strategic marketing consulting products and services.
Posted 16 April, 12:57 PM by T.L. (Tim) Tassone
All decisions, especially those taken in turbulent times, should be in line with an organization’s targets and objectives.
“Where you are going” should not change, but you may need to adjust your “map” of how to get there.
Focusing on a clear destination makes it easier to make considerate decisions, big and small, short-term and long-term. Essentially, if your organization does not have a (real) Strategic Plan, then making one should top your list of priorities – recession or not.
Posted 16 April, 12:38 PM by Bernard Dahl
Every crisis creates new opportunities, and this is so apparent in these volatile times. The winners will be those who can successfully manage the risk while seizing the growth opportunities that are emerging every day.
Posted 16 April, 11:32 AM by marilyn wangler
Long term plans have to be reviewed in this crisis scenario. But as future is so uncertain, don´t waste time and resources planning uncertain scenarios, move faster than the others, look for opportunities, be proactive while others are worried, think about new services and products, use the HR potential, try to motivate people creating an atmosphere of cooperation to face the crisis. Risk management is very important, more than planning in uncertain scenarios.
Try to see the crisis as a new market…
Posted 16 April, 11:02 AM by Alejandro Oliverio
Short term focus especially keeping an eye on the cash flow is essential.
Eliminating the waste in the process and non-productive work force is important.
Very opportunistic approach to upgrade the HR quality during the crisis time
Posted 16 April, 10:57 AM by Mahmut Tumenbatur
Ensure HR is a strategic partner in navigating the emotional and personal tribulations of the current challenges.
Management must ensure it is closely plugged in not only at the boardroom level but also at the mailroom where frontline employees may tend to retreat out of fear and insecurity. Every employee must be engaged in finding solutions, novel approaches; never like this moment has there been a need for every employee and stakeholder/client to feel they are part of a solid community, that communicates, cares and has courage. HR must be a facilitator and partner to ensure every person feels part of the organization.
Management must ensure HR is up to the task.
Posted 16 April, 10:51 AM by Maurizio Morselli