|Strategic Planning Information|
Three Steps to Give Your Strategic Plan Traction
We all agree Strategic Planning is a critical part of a company's success. All too often, however, strategic plans stall before they ever make it to execution - or they gradually lose momentum. The organization is then left in a vulnerable and uncomfortable position of continuing to go about its business with good intentions but no focused direction or aligned action. Move intention into action using this three step remedy.
Step 1. Accountability - Get a grip on Results
Get a grip on results by having each member clearly articulate the end results rather than just activities. We use an Accountability Agreement to accomplish this (see www.AlignOnline.com). An Accountability Agreement defines the business outcomes an individual is promising to deliver, and outlines the resources and support that he or she needs from others in order to deliver these results. An Accountability Agreement is broken down into seven areas:
Business Focus Statement - Understand your company and your role within it.
No employee should sit on the sidelines as a casual observer of an organization's success. This area focuses on the business of the company and the unique value each member brings to the organization. In short, why does the job exist and what do you bring to the table? This is then related to the role each person plays in the execution of the strategic plan.
Operational Accountabilities - Outline the end results you are accountable for achieving.
The strategic plan serves as a template to outline who is accountable for bringing about various end results of the strategic plan. Focusing Accountability for various parts of the strategic plan that the individual can significantly influence and achieve is the key to clearly articulating who is accountable for producing specific end-results.
Leadership Accountabilities - Set the tone and culture.
Integrating the leadership style into your strategic plan sets a tone throughout the organization. Leaders successfully execute the plan by focusing on the people side of their role and how they expect people to work together. Leadership accountabilities set the tone for the leadership style, and introduces the notion that "leaders model the way".
Goals- Your road markers.
Goals are specific milestones that are derived directly from your accountabilities. Goals can be described as SMART: Specific, Measurable, Attainable, Realistic and Time Based.
Support Requirements- Identify the support and resources you need.
Success in organizations demands a significant level of teamwork and reciprocity. The individual is accountable for achieving end results in a context of mutual support. No one gets anything done alone. The alignment meeting described below creates a conversation where this interdependence is made visible and negotiated.
Sustainment Plan- Plan to keep it alive.
This describes how to keep accountabilities up-to-date and focused on business results as circumstances change. As things change, agreements must be adapted, renewed and revitalized.
A job is a business bargain between an individual and an organization. To get beyond the parent/child or master/servant relationship, effective individuals bargain for what they want, and can realistically expect, through a fair and reasonable exchange.
Step 2: Alignment- Align like a laser
When all members of a workgroup have completed their individual Accountability Agreements as described above, hold an alignment meeting. This process makes difficult issues discussable. Gaps and overlaps in individual accountabilities and goals are resolved and interdependencies and mutual support is agreed upon. At the end of an alignment meeting you can revise Accountability Agreements and realign on a regular basis as circumstances change or memories of agreements fade.
Gaining traction for your strategic plan ideally begins with your senior management team. Once you've identified who's accountable, made commitments and aligned this senior group, you can then cascade it down a level at a time. The process of cascading continues until all employees understand what results they are expected to produce and how they are aligned interdependently with the rest of the company.
Step 3: Achievement Individuals usually experience immediate value from the clarity of their business bargain provided by this process. The Alignment of individuals who know what is expected of them and who know what they want in return creates a powerful force for corporate success.
About the Accountability/Alignment Process:
The process we've outlined above has been consistently successful with our clients. We've made this process available to the public through our books Accountability: getting a grip on results, and Aligned like a laser, and have recently made our online tool (AlignOnline) available to organizations and consultants who wish to use it in their consulting practice. Visit us at www.AlignOnline.com for more articles on Strategic Planning, Accountability, and Alignment and information on our books and online Accountability tool.
Shaun Murphy, Ph.D. and Bruce Klatt, M.A. are senior partners in Murphy Klatt Consulting and authors of Aligned Like a Laser (2004) and Accountability: Getting a Grip on Results (1997). They are internationally recognized experts in the field of Organizational Effectiveness whose books have sold over 100,000 copies internationally.
Consolidation in the Software Industry is Hardly New: Obsess About It or Risk Losing it All
Some analysts credit [Larry] Ellison with anticipating the consolidation in the enterprise software industry and leading the charge. Ellison 'called a major shift in an entire market, which was impressive.'(1)
Business Planning and the ?Bozo? Factor
"Bozo" ? A clown with a forlorn look, always finding negative implications in every activity or event. A person who tries to find a way to prevent you from moving ahead, giving excuses such as "we've always done it this way, or this is not our culture" when presented a new opportunity or challenge. Normally associated with people who are uncomfortable with learning new techniques, processes, or relationships.
Designing an Efficient Distribution System
Let us look at a few of the big distribution networks in the US that we use today. The US Post Office for instance is a huge complex chain of symbiotic relations ships with vendors to deliver by truck, work with FED EX for air, previously that airmail idea started commercial aviation. The reason it grew big and evolved so well is because of the special teams and companies and individuals from the first air mail carriers to the Wells Fargo Coaches. A much better system than Paul Revere; although he was very simple with only two possible signals 1 or 2 "if's" scenarios. Let's face it 1's and Zero's or 1 or 2 ifs are different than today.
Business Strategy Planning Made Easy
Ask Yourself three simple questions that affect your strategy planning... What direction is my business going in? How do I create my business strategy so that I can position myself as a leader in my industry? Where do I go to find out information about business strategy planning?
25 Ways To Find Companies To Buy
When you start your program to purchase your "ideal" company, you quickly realize that your ultimate success will depend on two primary skill sets: 1) Your ability to FIND viable companies that are for sale, and 2) Your ability to effectively qualify the potential acquisition investment once found.
Top 10 Tips to Create A Business Plan! (For People Who Hate Business Plans)
One of the key challenges for any business is to remain focused and invest resources for maximum pay-off. It's said that 80% of a business's activity accounts for only 20% of total profits. In plain language, most of the work we do is unfocused, poorly designed and ineffective. In today's competitive world, no business, whether it's an individual professional or a large manufacturing operation, can survive with that much lost time and wasted effort. A business plan can help, but most small business owners (and some managers/supervisors) hate doing them! In the spirit that any map is better than no map, here are my top ten keys to creating your own map to success:
Financing Business Expansion for Your Small Company
How you finance the expansion of your business is important. Borrowing and understanding the consequences of borrowing for your financing is extremely important. If you are going to borrow the money to finance the expansion of your business, you need to make sure that you are not going to get yourself into a cash crunch situation. This is where you are going to have a lot of money coming in from new business completed and invoiced but not have enough current cash flow. When you borrow you will be financing new equipment, locations, signage, or perhaps a new work truck on a credit line, lease or loan payments. The initial payments are going to be due before you get your increased income from the expansion in. This can be a major critical problem and we do not want this to happen to you.
If You Dont Focus, Innovate and Evolve, You Die
After 128 years of business, a household word, Montgomery Wards, Inc., closed their doors forever and filed bankruptcy.
19 Questions to Supercharge Your Business Plan
Whether you are seeking capital for your company or are optimizing your business strategy, the most important element - particularly for outside investors - may be your written business plan. You can tune-up and supercharge your plan using this 19-step checklist. When your written plan firmly answers yes to each of these 19 questions, your market/product strategy is in terrific shape plus you increase the odds of attracting investment capital.
Content Management: Wise Investment for Business Prosperity
Making a Decision to Outsource: Strategic Constraints
Many companies are reluctant to dive into outsourcing ocean because of various reasons of strategic nature. As far as strategic goals are touched upon, managers are concerned with the following issues:
Innovate Today for Great Leaps Forward Tomorrow
How often does your company make a quantum leap forward? My guess is that, on a scale from "frequently (10) ? to ? never (1)" the answer is much closer to "never" because few companies have a process to innovate or think creatively. Very few attempt to formally think through their business model, their relationships with staff, clients, and vendors, and their product / service offerings.
Changing Strategy Without Losing Your Customers - Three Vital Steps to Refining Your Strategy
American Eagle Outfitters and Wet Seal Stores have issued statements about company turnarounds needed to cut sales loses. This kind of story occurs far too often: a business disconnects from their customers because the company either wants to sell to a larger customer base or they want to upgrade to a more prestigious look.
Regroup - How To Do It And Why It Works
Regroup?is this a new management trend? Not a chance! Regroup is simply an opportunity to end one month's business cycle, recap the performance of your company and outline a plan of success for the new upcoming month. Why does it work? Because it allows each person on your team to assess their performance from the previous month, and make any necessary adjustments for the new month. Here's how it works:
Home Improvement Construction Project Planning
The first task before hiring a contractor for home remodeling is laying out the details on what exactly you want done. This will ultimately save you time and money, as you will be able to choose the perfect contractor for your construction job, and get the job done correctly the first time. Personally, I have always found that writing out every detail initially will help you think of the task more clearly in your mind. This will also aid in your description of the job to the contractor, and will allow for a better estimate of time and cost, which are coincidentally the two most important things to consumers.
Have You Identified the Enemy?
One of the most powerful driving forces in human nature is competition. The desire to overcome something or some company, the need to win, the cause, can in many cases be more important than the day-to-day work of the company.
Buying Used Detailing Equipment and Rainy Day Services
Mobile auto detailing equipment becomes very inexpensive around March each year. If you look on eBay or your local classified section of the newspaper you will see. This is because mobile auto detailers are in a seasonal business. They find themselves scraping bottom when it is too cold to work because the water is freezing or it is raining and it becomes hard to sell detailing services. No one wants to see their business cards when it's raining. The only people who page them are their girlfriends who they can no longer take out for dinner or a movie. They can't use their car phone because it's been turned off by Verizon or Sprint. In a rainy year their cash reserve, if they had one, has been used up by mid January. They are eating Top Ramen by February. Their business no longer supports their needs. So they quit. Too bad for them; they obviously are not winners because: "Winner's Never Quit and Quitters Never Win!"
A Backup To The Internet Is Vital & Now Cost Effective
It doesn't take a Terrorist Act, Tsunami or Earthquake to put a business heavily dependent on the internet in the dark and effectively out of business??for hours or even days into weeks.
Top Ten Traits of Strategic Thinkers
Want to become more strategic? Add these traits to your collection of skills and watch your success soar!
Invalid Excuses for Poor Business Results - The Economy
Note to Rite Aid and CVS: It's not about the economy
|home | site map|