Kudosee Workplace Report dives deep into manager and employee relationships in 2021

Kudosee Workplace Report dives deep into manager and employee relationships in 2021

Kudosee Workplace Report dives deep into manager and employee relationships in 2021

Steps in Strategic Planning

You have a vision – can your business deliver?

“Every business should have a strategic plan—but the number of businesses that try to operate without a defined plan (or at least a clearly communicated one) might surprise you” (1)

73% of business owners say they do not have full confidence in their strategy. “95% of a typical workforce doesn’t understand its organization’s strategy.”(2)

Strategic planning is imperative.  It sets the compass direction for your organization, its use of resources, and how your business is going to get there. 

Strategic planning is no joke – “Opening a new shadow puppet theatre. Business plan says we’ll make a fortune, but those are just projected figures” (3)

Strategic planning is hard work! It takes time, effort, smarts, and determination.  If you figure to get a leg up on the competition it is essential.

Planning your Strategy?

Here are 6 steps:

  1. Create clear Mission and Vision Statements for your business. Identify what you do, for whom, and how.  This helps you define your objectives. Effective statements utilize your company’s core values as well.
  1. Gather information to pinpoint your strategic position
    Involve stakeholders, internal and external sources, customer insights, industry and market data. “Get a clear picture of your position in the market and in the minds of your customers”(4) (use S.W.O.T. and P.E.S.T analysis)
  1. Triage your objectives
    Once you have identified your current position in the market, it is time to determine those objectives that will best accomplish your goals. These best objectives should be in line with your company mission, vision, and values.
    Classify objectives by asking questions to determine: greatest impact once completed; most important impact; competition reaction; most urgent; the timeline for completion; the resources required, etc.(5) Measure objectives against your mission, vision, and values.
  1. Develop a Strategic Plan
    “Now it’s time to create a strategic plan to successfully reach your goals. This step requires determining the tactics necessary to attain your objectives and designating a timeline and clear communication of responsibilities.”(6)  Remember to align your plan with your company mission statement, values, and established priorities which accomplish your long-term strategic ideals. 
  1. Communicate, Execute, and Analyse your Plan
    The requisite components to your strategic plans (transparent objective ownership, timeline, resources, measurement, KPM, and KPI) have been set.  Now you have to communicate, execute and manage your plan. 
    Using a digital tool like Kudosee can help your organization visualize, communicate, and execute strategy in real time. It is a strategic execution vision board; interactive, graphical, and fully shareable within your entire organization. It  enables leaders to convey strategic vision and progress in real time to investors, staff and key stakeholders with efficiency and accuracy. 
    Managing your strategic plan includes analysis. Can you answer questions like: “where are we at?”, “who is overburdened?”, or “are there any risks we need to be aware of?”  Analysis will allow you to achieve your company’s strategic goals with less waste, conflict, and risk.  You will also need to review your plan with its key stakeholders.
  1. Oh! The Review!
    Reviewing your strategic plans regularly allows for identification of opportunities and risks and the ability to act on them in a timely manner.  Being able to see changes in strategy, delays in execution, risks in the organization and opportunities to help, in real time and with full clarity, is ideal. With a digital strategy platform like Kudosee, you can know exactly who is responsible for every goal, what the progress and status is at any time, and how it will impact the overall company strategy.
    Annual evaluations are opportunities to actualize data driven changes to your plan. 

“As you continue to implement the strategic planning process, repeating each step regularly, you will start to make measurable progress toward achieving your company’s vision. Instead of always putting out fires, reacting to the competition, … you’ll be able to maintain a long-term perspective and make decisions that will keep you on the path to success for years to come.”(7)

1,2,4,5,6,7  https://www.lucidchart.com/blog/5-steps-of-the-strategic-planning-process

3, https://punsandoneliners.com/randomness/plan-jokes/

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