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StratXtra, Issue 2013-6 Implementing and monitoring strategies
August 10, 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-
If you prefer to read this e-zine in your Web browser StratXtra Issue 2013-6.
Staying in touch with what is going on in the world of strategic planning
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 5.
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. For more information on the objectives setting process go here.
The third key activity, once having set long term performance objectives is to generate alternative strategies that could achieve the objectives.
Formal strategic planning calls for the analysis of key strategic factors, short listing the really major strategic issues and the generation of alternative strategies.
The fourth key procedure in an effective strategic planning process is to evaluate and decide strategies.
It is all too easy to go with the bright ideas that emerge from brainstorming strategic alternatives. Effective formal planning uses systematic methods for evaluating the various alternatives.
Processes of finding all the relevant significant strategic factors are covered on other pages about SWOT analysis, and methods for generating the alternative strategies will be under Business Strategy, for companies, or non-profit strategy making for other kinds of organization.
The fifth key procedure is to monitor execution of the strategies against the long term objectives
Having planned the work of implementing or executing the strategic plan, you need a system in place for working the plans as they get implemented. The plan should provide for formal reporting at agreed intervals. To allow for corrective action, the monitoring system should address the same objectives and factors determined as significant through the planning process. Too often there is a disconnect between the plan and how it is managed into reality.
You can get more information on managing strategy implementation here.
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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If you have liked what you found at Simply Strategic Planning, or if you find anything offered here in StratXtra of some value to you, then...
...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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