Strategic Planning – Do They Really Mean ME?
Why is it often so difficult for aspiring entrepreneurs to turn their desires into hard-core business? They start with great ideas, dreams and desires but they just don’t seem able to actualize these visions. For many, the key factor has been a lack of understanding of the necessity for strategic planning at the very basic levels. Small businesses either think that they are too small to worry about strategic planning or if they realize the need at all, many do not have the necessary knowledge and guidance to get them on the right track.
‘I have my business plan so why do I need to bother with writing yet another plan?’ Many do not realize that strategic planning is different from writing a business plan. A business plan is written when starting something new such as a business venture or launching a new product; however a strategic plan looks toward growth and development.
According to the Watson Wyatt Work Study, ‘companies whose employees understand the mission and goals enjoy a 29% greater return than other firms.’ People who are a part of the creation process will feel greater ownership over the product and be willing to work towards the vision.
Strategic planning creates a vision of the future and aides you as you work towards that expectancy. You create your vision, mission, and strategies which in turn, focus your efforts towards your original vision. Your plan aligns your short-term decisions toward your long-term goals.
Strategic planning answers the three big questions:
- Where am I today?
- Where do I want to be in the future?
- What should I be focused on today in order to make it more likely I’ll get to where I want to be in the future?
Strategic planning is a reasonably simple process which provides incredible power to energize your organization and bridge the gap between long-term vision and day-to-day strategies for growth. Beginning the process, you articulate that all-important vision which will then enable you to lay out your mission statement. From that mission statement, you are then able to develop strategies which will allow you to achieve that vision. By breaking those strategies down into specific measurable goals, you set yourself along the path to success. The goals allow you to articulate specific key results which lead to further action. All of these steps are necessary in order to propel you along the journey towards seeing your original vision come to fruition.
Strategic planning makes an almost immediate impact with respect to your organization. It helps to build team identity by developing consensus, commitment, and trust. In addition, it establishes personal accountability by outlining specific measures and action steps. Strategic planning causes people within your organization to think about the big picture. It helps team members communicate with and listen to one another’s fears, insights, and dreams. This type of planning enables you to get the team on the same page, creating a shared vision. It will also provide a non-threatening arena for discussion.
There are plenty of benefits to bringing in an outside agency. By working with an independent guide, experienced in strategic visioning, the organization is able to accomplish a better job within a shorter time frame. An experienced facilitator is able to bring out the participation of all of the team working on the strategic plan without just advancing the agenda or opinion of the person leading the process from within.
Many entrepreneurs will agree that in order to see your future success materialize, you need to get it down on paper in front of you. After all, if you wouldn’t risk taking a holiday without a map, why would you embark on a business venture for the next five or more years of your life without an idea of where you’re going and how you’re going to get there? Strategic planning is a powerful process which will help you reach that destination – don’t you owe it to yourself?
Melissa Davies, president and founder of Wise Ways Consulting, Inc., is a northern Virginia-based, strategic planning and diversity consultant with a solid reputation for results. She can be reached at Melissa@wisewaysconsulting.com.
Monitoring and Evaluation: Are They Really That Necessary?
So your company has met for the retreat, the consultant has facilitated the development and articulation of the strategic plan, the final report has been received and now it sits on the desk. What to do next?
Unfortunately, too often strategic plans end up collecting dust on bookcases. What many organizations fail to understand is that the actual monitoring and evaluating of the implementation is as important as the formulation of the strategic plan itself. Through on-going monitoring, or the taking of periodic looks into how the process is going, the organization is able to ensure that the established direction embedded within the plan is being followed.
There are many important reasons for monitoring the implementation of the strategic plan. Possibly the most important reason is that it allows organizations to ensure that efforts are conforming to the plan. It helps to keep agencies ‘on track’. Also, it is imperative that the results being garnered correspond to the specified and quantitative objectives. Management needs to ensure that the organization is accomplishing what was intended. By continually monitoring, it allows the organization to make any necessary changes along the way. This provides the opportunity to fine tune not only the strategies necessary to achieve the goals but the planning process as well.
Monitoring encourages improved employee performance. When people understand that there is accountability for personal performance, most adults will be stimulated to do a better job. Authentic learning generally takes place when people are immersed in new information and materials and then continue to reflect upon their individual experiences. This also allows management to learn about the organization and how they should monitor the progress of the strategic plan, tailoring it to the specific needs of the company.
An effective strategic plan will identify those people responsible for achieving goals, objectives, and individual tasks but also those who will oversee the overall implementation of the plan. The plan must also indicate who will monitor the implementation and make ongoing decisions based upon the results. Is the board expecting regular updates and reports with respect to the progress of each of the strategic goals? Is the CEO requiring regular updates from each of the middle managers? The established process will often vary from organization to organization but it must be outlined and followed in order for systemic change to occur.
An additional benefit to monitoring the process is that it will become the early warning system. If a particular department is heading in a direction that it not conducive to the actualizing of their specific goals, these situations will become evident through on-going monitoring. Problems will show themselves and provide for opportunities to re-think current practices and remediate for future success.
Possibly the most important reason for monitoring is that it provides the vital link between the written plan and the day-to-day running of the operation. It allows all to see that the business truly is being run according to the plan. Through on-going monitoring, the strategic plan becomes a tangible reality as opposed to a once-a-year academic exercise.
In order to accomplish the goals set out in the strategic plan and allow for a successful transformation of the organization to the next level, a mastery-focused culture must be created. From this a process of continuous monitoring must be put in place. In this globally competitive marketplace, isn’t the future success of the organization worth it?
Melissa Davies, president and founder of Wise Ways Consulting, Inc., is a northern Virginia-based, strategic planning and diversity consultant with a solid reputation for results. She can be reached at Melissa@wisewaysconsulting.com.
Doing Business Globally – Reason Enough to Continue Tackling the Diversity Issue?
By now, many corporations will vow that they have dealt with diversity, ‘ticked that box’, put the recommended programs in place, and moved on. But have they really done all that they can to ensure that their organization is culturally inclusive and ready for the consequences of a globally interdependent economy?
Companies are influenced by an international system that is dramatically changing the protocol for doing business. Through these changing technological times, barriers to the free movement of human capital, information, and currency have fallen and all are moving freely to the various corners of the globe. Global mergers and acquirements occur at amazing rates and massive conglomerates or ‘mega organizations’ are formed. People from various cultures are conjoined in the marketplace and as a result, employees can no longer work effectively in isolation. In order to maximize profits, people must be able to communicate efficiently and effectively without unwittingly offending their foreign colleagues.
As a leader in a culturally diverse environment, what communication problems might be confronted? Even within an atmosphere where all participants are speaking the same language, there are differences surrounding communication styles. The messages that are sent are not guaranteed to be the same as the messages received. Since approximately 50% of communication is non-verbal, participants in a discussion can often be sending out very different messages than what were originally intended. Without an understanding of what various non-verbal cues are given off, results across culturally diverse lines can be disastrous. This can have far-reaching ramifications for organizations in the highly competitive world market.
A major impediment to creating a culturally inclusive institution is trust. In an atmosphere where trust is lacking, there can be not only miscommunication but no communication. Members, not trusting and believing that their opinions are valued or appreciated, may choose to withdraw from the discussion; hence their knowledge is never contributed for the benefit of the organization.
In a culturally rich organization, often members will have different accents or speak using regional jargon. Unfortunately some team members may see that as an opportunity to respond in a negative manner, passing judgments about perceived levels of intelligence. From a rational standpoint, obviously a person’s IQ or academic prowess is unrelated to his or her geographical home.
Leaders will have to deal with issues such as stereotypes, lack of common experiences, responses to differences in physical appearance, as well as differences in people’s backgrounds, values, and beliefs.
Successful management executives find effective strategies in order to manage diversity. An exemplary executive leader works to create and better the environment and team. By utilizing the services of outside agencies, experienced facilitators are able to further the process more rapidly than those embedded in the system. They are able to facilitate the development of meaningful strategies which embrace and support all members of the team. When human capital is properly managed and talents are utilized, the organization and team is furthered and the potential of the people who work within is recognized. Strategies are developed in order to create an environment whereby all participants are empowered to leverage their full potential resulting in an accomplished mission.
By gaining the necessary knowledge and making insightful decisions, an executive leader can truly make a difference. An effective leader can create a lasting legacy which will include the realization of having made a positive impact on a culturally diverse organization.
Melissa Davies, president and founder of Wise Ways Consulting, Inc., is a northern Virginia-based consultant specializing in Diversity, Inclusion, and Cross-Cultural Competencies. She can be reached at Melissa@wisewaysconsulting.com.
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