- Leadership & Management
- Specialised Training
- Sales & Marketing
- Business Academy
- Business Support
- Business Strategy
- Presentations
- Mentoring
STRATEGIC BUSINESS PLANNING
Why are long-term strategic business plans out of vogue? Back in the 1970s and 1980s, every successful business had a five, or ten year strategic plan. It expressed where the business intended to be in terms of key performance measures, on a year by year basis. The Strategic Plan often articulated the aspirations of the business and influenced the business vision and culture, and often drove key qualitative operating standards. Each year was just a step on the staircase of achieving long term business goals.
In the 21st century, it appears as if this is no longer as important to key business stakeholders. Why this and what is the true value of a robust and detailed strategic business plan? Perhaps investors, executives and key staff are quicker to ‘jump’ if things are not to their liking? What is the value of loyalty, nowadays?
Let’s go back to basics. What is a Strategic Business Plan? It is simply a long term systematic and detailed plan of actions, designed to achieve specific goals.
A Strategic Plan needs to be structured, simple and flexible. It needs to be a tool, rather than a bound digest! It should be in a format which delivers value and guidance to all staff.
Think of it as a route map for a long journey that you have never made before. What is the value of that tool? And what would you want to include on it? Perhaps planned fuel and stops? Breaks? Distance targets per hour or day to get you to your destination by a specified time. Which route? Alternative routes in case you fall behind your plan?
Does a route map for a journey inspire confidence? Yes. Remember the wise words:
“Adventures happen when you DON’T plan your journey and you HOPE to reach your destination”
Adventures in life are sometimes really valuable. Adventures in business frequently lead to stress, knee jerk reactions and micro-management of a perceived crisis.
They also lead to loyalty being wasted and key stakeholders abandoning the business and moving elsewhere.
