The Strategic Planning Process and Momentum Challenge Explained
We all know the scenario. Weeks, months, maybe even a full year of planning, debate, re-planning, more debate and then finally, consensus.
It’s the one (1), three (3), or five (5) year strategic plan. The plan that ensures our organization will revitalize and grow. The plan is sure thing. Leather bound binders are put together, demonstrating how brilliant and everlasting the strategic plan is.
Hurrah’s go out across the board room. We now know what to do. Let’s go!
In a recent white paper published in the Journal of Management and Organization, the authors Candid and Santos, posit that “It is often claimed that 50-90% of strategic initiatives fail.” Our article here, will provide some real world observations and insights.
What Happens with the Strategic Planning Process that Kills Execution?
- Pressing day to day matters of running the business get in the way.
- Quarterly performance needs optimized.
- We have shareholders to support.
- Critical customer issues need supported.
- The last product launch was really, really difficult.
- We’re still fixing the customer problems from that last launch.
- The price pressures are intense.
- It’s a commodity market out there.
- We must sell to generate revenue.
- Let’s just take this one deal at negative margin. It’s OK. We’ll make it up in volume with another customer.
What About Our Brilliant Strategic Planning Efforts?
When the factors above hit and the distractions occur, the strategy plan moves to the bottom of the priority list. Is the plan resurrected and actioned. Most of the time, unfortunately, there’s a lot of nothing. The strategy is sitting there in that leather binder or slide deck untouched and un-actioned. The day to day has crushed any momentum or chance we ever had to move forward.
Three (3) Things You Can Do to Get Strategic Planning Back on Track to Execution
When the above factors hit the organization, and we guarantee they will, revert to three simple terms to get your strategic planning back on track.
Remember, why, what and how.
Here are the three (3) high-level elements to amplify to jump-start strategic planning execution:
1) Link Strategy to Tactics – Demonstrate that every action of the organization links back to your strategic plan. This is the WHY it’s important.
2) Drive Alignment – Make sure all the organization knows what our critical mission is. The WHAT we are doing.
3) Drive Momentum – Focus on growth. Educate your employees and teams to invent the HOW needed to harvest the objectives of the strategic planning process.
Ready to Learn More and Explore How to Increase Momentum for Your Strategy Plan?
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