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Business Strategies
August 01, 2014

Welcome to StratXtra

1-August-2014 Issue#9

Hello! StratXtra is the electronic strategic planning newsletter designed to complement the website

So that you can get your hands on practical information to help you in your own strategic planning efforts, I will use StratXtra to-

  • offer information on updates to the website, and
  • suggest links to other material or services that could be of value.

If you prefer to read StratXtra in your Web browser click StratXtra Issue 2014-2.

Strategic planning can be a simple process

In previous StratXtra Newsletters I have outlined a simple approach to corporate strategic planning.

In simplest terms the strategic planning process consists of collecting the necessary information, then thinking about it in one big picture.

The amount of data required to feed the process of strategic thinking is a lot less than most managers believe.

You need to collect only three types of data:

  1. The corporate objectives and targets.
  2. Strengths and weaknesses inside the organization.
  3. Threats and opportunities outside the organization.

Collect these, lay them out clearly before you, and the strategic possibilities will emerge with almost crystal clarity.

You then develop the resulting handful of strategies into detailed action plans and business plans but these are executive tasks, which follow on from the planning process.

Finally, there is the monitoring of plan implementation.

Business strategies

After the strongly analytical process of target setting, forecasting and study of the strengths, weaknesses, opportunities and threats, the process of selecting the strategies can be quite creative.

Because of the different mind sets involved, I believe it makes sense to have break between the end of the SWOT analysis and the next stage of generating strategic options and then selecting the ones to be pursued.

Business strategy should be designed to bring success and avoid failure. Do this by capitalizing on the strongest capabilities of the firm, and exploiting the greatest opportunities, while reducing risk associated with company weaknesses, and environmental threats.

The early analytical stages of the strategic planning process set the stage for the more creative work of generating strategic options and selecting or designing the business strategy for the enterprise.

I have covered some other aspects or types of business strategy on the Simply Strategic Planning website as follows -

  1. Business process reengineering,
  2. Business model innovation,
  3. Entrepreneurship,
  4. Strategy and innovation,
  5. International strategy,
  6. Customer service strategies,
  7. Financial leverage,
  8. Knowledge management strategy, and
  9. Corporate social responsibility strategy.

I am working on some other strategic options that businesses could use in their strategic plans. Later I intend to provide some material for strategies that suit non-profit organizations. I will let you know when these have been loaded up on the site.

Before going further you might like an understanding of what I mean by strategic planning. Click here

Stay up to date

As well as StratXtra being a way to keep up to date with what is happening at you can also keep up to date by following the Strategic Planning Blog.

The Argenti System of Strategic Planning

The approach to strategic planning that is most in line with the philosophy of Simply Strategic Planning is that developed by John Argenti over forty years ago.

The Argenti System of Strategic Planning can improve the Performance of Your Business by helping you to find Strategic Elephants!

The Argenti process is the only all-in-one planning system, planning-assistance, and planning facilitation service that makes it simple for chief executives and other senior managers to design an exciting future for their organization and improve the performance and morale of the management team while doing so.

A strategic plan built using The Argenti System of Strategic Planning can result in superior long term performance for the organization, as clients can attest.

To find out more click here.

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...Tell your colleagues about Simply Strategic Planning, and StratXtra!

As I am basically retired from full time work now, I do not spend any money promoting Simply Strategic Planning. It grows mainly by word-of-mouth, enabling me to grow numbers of visitors, just like you, and to attract more people just like you, and to provide them with useful guidance on the strategic planning process.

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