[Business, Strategy] - 7-Steps to Effective Strategic Planning.pdf

8/11/2019 [Business, Strategy] - 7-Steps to Effective Strategic Planning.pdf

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Hello: my name is LM Foong,

I am a consultant and Facilitator in the area of TQM implementation using business modelsuch as Baldrige Criteria. Today, I am going to share with you actual workshop material I usedfor Strategic Planning, titled:

7-Steps to Effective Strategic Planning"

If you are not in a hurry, I like to share that knowledge with you.

by no means is the best but it was designed in accordance to the Baldrige Criteria requirements. It is by far one of the most holistic approach to Strategic Planning

because it has considered various inputs from stakeholders include shareholders,customers and employees before strategies are developed. It is systematic, fact basedwith analysis of data and involvement of lower level of employeewho are normally the implementor.

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of 107-Steps to Effective Strategic Planning

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7-Steps to Effective Strategic Planning"

in presentation slides on-line.

The key benefits you can get from this presentation slides which are categorized aschapters are follows:-

Step 1 - Review or develop Vision & Mission

l Able to obtain first hand information from various stakeholders (Shareholders,customers, employee, suppliers communities etc).

l You will be able to use the templates to evaluate how the stakeholders think about yourorganization. To find out whether their action are aligned with the organization'sobjectives.

l To review or develop company's Vision and Mission with the involvement of otherstakeholders to ensure it is still current with the business changes and new challenges.Also use this session as a mean for communication.

Step 2 - Business and operation analysis (SWOT Analysis etc)

l One of the key consideration of strategic planning is to understand internal (ownorganization) Strengths and Weaknesses as well as external Threats and Opportunities.These are commonly known as the four factors of a S.W.O.T. analysis. In this ebook,they are used extensively to evaluate the company's health and wealth and generate ideasfor strategies.

l Get involvement from various stakeholders to provide their points of view about yourorganization. In the process, you will gain better buy-in from these implementator ofstrategies and policies.

Step 3 - Develop and Select Strategic Options

l You will be able to use the templates provided to develop several key possible strategiesto address the organization's objectives. More important, these possible strategies aredevelop based on the inputs from stakeholders (step 1) and Business and Operationanalysis (step 2).

l It is often several possible strategies are developed and everyone of them seemsimportant. Since it is quite normal that an organization would have several key issues totackle, you will be able to use a proper tools to select a few from the possible strategies.

You will b e able to apply several prioritizing tools as introduced in this step.

Step 4 - Establish Strategic Objectives







l During this step, you will be able to view the overall picture about the organization andable to select a few strategic options objectively. Template is provided for youto understand various strategic options, set key measures and broad time line to ensurethe selected strategic options are achieved.

l While it is quite common that measures and timelines are given by top management, it isthe intention of this step 4 that these measures and timelines are SMART . What it meant

was Specific (S), Measurable (M), Achievable (A), Realistic (R) and Time-bound (T).when the strategic options are SMART, it will help to ease the communication towardthe lower level of the organizational hierarchy for implementation.

Step 5 - Development Strategic Deployment Plan

l Many organization failed to realize its full potential of its strategies are due to weakimplementation. In this Step 5, a proper deployment plan is developed to implementthese strategies.

l Key concepts of communication and getting buy-in for implementation of strategies areincluded in this ebook include alignment and setting key activities, targets and timeline.

Step 6 - Establish Resource Allocation

l Very often, management team assigned selected strategies to key personnel and left it tothe individual to carry out the task. While most organizations operate with minimumresources, it often ends up work overloaded by individual.

l Step 6 deals with proper allocation of resources based on company's strategic priorities.In certain aspect, it deals with cross functional team to take on the task of each selectedstrategic objective. It is the management team decision to allocation resources based onthese needs.

Step 7 - Review

l One of the key success factors for an effective strategy deployment is constant review ofits progress and make decision for any deviations to plan. It is vital to decide what toreview and with who the review is done.

l New decision may be required as the status of the strategies progressed.

Well .... what do you think ?

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1. Review or develop Vision & Mission

2. Business and operation analysis ( SWOT Analysis )

3. Develop and Select Strategic Options

4. Establish Strategic Objectives

5. Resource Allocation

6. Develop Strategic Deployment Plan

7. Review

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[Business, Strategy] - 7-Steps to Effective Strategic Planning.pdf

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