Strategic Planning: Why Do It?

Most companies and executive management teams conduct annual strategic planning sessions and have a published strategic plan. If Strong Point Strategy asked for a published version of that 2008 Strategic Plan...would you be able to readily provide a digital copy within minutes? Would it be at your fingertips? Or stored on your local hard-drive in an easy-to-access location? Could you easily recount for a questioning observer, the top three goals of the organization in the next 12 months of business operations? Could your peers and your employees and heads of other departments do the same thing? Would a random sampling of key professionals in your organization all know and name the top three strategic objectives for 2008?

Strategic Planning lets you visualize the goals of the upcoming quarter, year and foreseeable future for your business. It gives critical thinking to the specific  “how-to’s” that define your methods and processes for increasing market share, revenues and innovation.

	Do all of your employees haveAccess to the Current Strategic Plan?
	Do they know the company’s philosophy and approach for achieving it? Are their specific tasks and goals tied into the overall Strategic Plan? Is the Strategic Plan carved into identifiable goals and results for each operating business unit or functional area?
	Can your Strategic Plan be Segmented into Actionable Components?
	Does the Strategic Plan identify goals and results for each operating business unit or functional area? Does the Strategic Plan have component business plans for each business unit that details the exact plan and tactical business steps that are required to achieve goals?
	Is your Strategic Plan a Living Document and a Regularly Used Tool?
	Do your business managers know how they are doing relative to Strategic Goals? Are contingency plans in place for unexpected delays or unexpected outcomes? Does your Senior Management Team meet at least quarterly to review and refresh the Strategic Plan? Are regular employee functions conducted to communicate Strategic Planning progress and results? How often?
	Does the Strategic Plan Drive Performance?
	Are your strategic goals monitored and measured through employee performance reviews? Are employee goals and actions updated yearly to directly support the organization’s current strategic goals?