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StratXtra, Issue 2013-3 Setting corporate objectives
April 03, 2013
Hello! Welcome to StratXtra, the electronic strategic planning newsletter designed to complement the website simply-strategic-planning.com.
The Simply Strategic Planning website was started because I was concerned that the field of corporate strategy had become excessively complicated. This growing complexity was in danger of creating confusion for practicing managers, business owners, and members of governing boards.
So that you can get your hands on practical information to help you in your own strategic planning efforts, I will use StratXtra to-
Emerging Themes in Strategy: Best Practice to Next Practice
The Association for Strategic Planning will hold its Annual Conference at the Marriott Marquis located in Peachtree Center, Atlanta, Georgia, April 22-24, 2013.
The Annual ASP Conference is a major forum for the exchange of professional ideas and experiences among strategic planning professionals. Each year the conference brings together thought leaders and practitioners dedicated to advancing strategic thinking, planning and action. At this highly interactive conference, you can learn effective tools and techniques for strategy formulation and implementation based on real-world case demonstrations and discussion.
Further details and registration at
ASP Annual Conference
Advanced Registration ends April 12, 2013 Before going further you might like an
understanding of what I mean by strategic planning. Click
here for a definition of strategic planning.
Advanced Registration ends April 12, 2013
Before going further you might like an understanding of what I mean by strategic planning. Click here for a definition of strategic planning.
While I believe that strategic planning is vitally important, and I also believe that it can be a very simple process, that does not mean that I imagine that the process is easy to carry out well. It will be helpful though to keep our eye on the essentials.
Strategic Planning- the handful of
essentials Part 2.
I have found from long and sometimes painful experience that to effectively plan strategically requires only a handful of essential procedures. You can improve long-term performance of your organization, at dramatically reduced risk, with these five simple planning process elements or procedures.
The first principle is to engage commitment from the right people. For more on who should be involved in the strategic planning process go here .
The second key procedure in an effective strategic planning process is to set long term strategic objectives for improved performance.
These objectives should clearly further the enduring Purpose of the organisation. This means knowing and spelling out for whom the organization exists, and what benefit the organization seeks to provide this group. Every organization, whether private company or non-profit organization (NPO), should set out to benefit one clearly defined group of beneficiaries, and a single, long term, verifiable, target figure should be set to reflect what it is trying to do for them. If it cannot set such a target, the organization should be reformed until this becomes possible.
The intended beneficiaries must be defined as one homogeneous group; in the case of the business enterprise it is the owners or shareholders.
The benefit offered must also be homogeneous and capable of definition in just a few words. In the business context, the proposed benefit is something like ‘increased wealth’. The benefit must be capable of being targeted and of empirical verification- essentially then, it must be quantifiable.
It must be of perceived significance to the beneficiaries, e.g. the benefit resulting from the point of view of the shareholders is ‘improved prospects for an acceptable mix of capital gains and dividends within a risk profile that is tolerable’.
For more information on the setting of corporate objectives go here.
I will go into more detail on each of the other three elements of the five essentials in following issues of StratXtra, our strategic planning newsletter.
Can't wait? You can get more information when you click here.
Next issue of StratXtra will talk about how to generate options for strategies to achive the long term strategic objectives for improved performance of your organization.
Stay up to date
As well as StratXtra being a way to keep up to date with what is happening at simply-strategic-planning.com, 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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Here at Simply Strategic Planning, including our strategic planning newsletter, StratXtra, we only offer advice and information of a general nature. it is not intended to substitute for relevant professional advice.
See the Disclaimer.
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