Strategic planning methodology

Every company adopts their own strategic planning to the changing polices of the market environment. Strategic plan development includes various phases and steps. Strategic plan will help you identifying the various business opportunities given the company's environment and existing resources. The traditional strategic planning prepared with a formal written document for short period. This traditional strategic plan highlights the predefined goals and objectives. To eliminate this problem, La Piana Consulting invented the Real-Time Strategic Planning methodology which engages participants, addresses with Big Questions facing the organization, and creates an atmosphere, where ongoing strategic thinking and acting can grow.

Strategic Planning Methodology involves below steps:

Customer Initiation

Define Mission, Vision, and Value Statements

Organizational Assessment

Analysis of Goals and Priorities

Create Strategy

Implement Strategic Plan

Evaluate and Monitor Strategic Plan

Customer Initiation

This is the initial step of the Strategic planning methodogy and it defines the success factors and reasons for a strategic planning project undertaking.

It involves identifying stakeholders of the organization and their roles.

Develop and set expectations on the availability from participants for information gathering

Define Mission, Vision, and Value Statements

This is the second step of the Methodology starts with Writing Mission Statement of the organization stating the reasons for the existing.

Prepare Vision Statement of future goals of an organization.

Write Value Statement to define the organization's core principles such as God, faith, trust, teamwork, etc

Mission, Vision, and Value statements are key components of strategic planning. They act as a benchmark for an organization to measure their objectives and goals.

Organizational Assessment

This is the third step of the Strategic Planning Methodology and it involves Identifying Internal and External Factors such as Business processes and operations, Human Resources, Information Technology, Revenue Generation, Customers and Marketing and Branding.

Next perform SWOT Analysis to know the strengths and weaknesses of a company.

Analysis of Goals and Priorities

Analysis of Goals and Priorities is the fourth step of Methodology as it involves setting of goals from financial and non-financial measures

Identify and agree upon the administrative, financial, and governance priorities.

Create Strategy

Strategy creation is the Fifth step of the strategic Planning Methodology and it creates a Balanced Scorecard to identify current goals and objectives.

Prepare strategy maps to identify steps and processes to the designed goals.

Prepare performance metrics to measure organizational goals.

Support human resources to Balanced Scorecard which identifies the individual goals.

Setup strategic feedback and review system and prepare a strategic plan Report.

Implement Strategic Plan

Next phase of the Methodology is communicating the designed plan to the organization.

Create and assign process owners and Change Champions.

Also create a Governance Board to watch the development of the strategic planning implementation. Governance Board can be consists of consultants, change champions, board members, etc.

Evaluate and Monitor Strategic Plan

Assign Governance Board meetings to monitor strategic plan as monthly, quarterly, or yearly.

Update balanced scorecard with latest results.

Communicate Results to organization

Adjust plan as per the suggestions and implement it.

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