Strategic planning

Strategy and strategic planning are terms often used but seldom understood, properly developed or successfully implemented.

Strategy is an integrated set of choices about how an organization can best compete to earn superior returns over the long run.

woman and man working on schematicStrategic planning is how an organization defines that strategy and makes decisions on allocating resources or mechanisms to pursue and implement the strategy.

Drs. Robert S. Kaplan and David P. Norton of the Harvard Business School have created a new approach to strategy and strategic planning by expanding on their breakthrough balanced scorecard. This approach clarifies and simplifies the understanding, development and successful implementation of strategy.

Strategy is not business as usual, but making the necessary changes to get the organization where it wants to go. From that viewpoint Dr. Norton stresses that “managing strategy is managing change.”

Draw a picture, keep it simple

“If you can’t explain it simply, you don’t understand it well enough.” — attributed to Albert Einstein

Fundamental to developing and deploying strategy is creating a strategy map and a balanced scorecard. The organization’s strategy can thus be fully depicted on just two pages.

A strategy map is a one page picture of the organization’s strategic themes and objectives showing the cause-and-effect relationship between all facets of the organization.

A balanced scorecard is a one page framework that translates the strategy into operational terms that will drive both performance and behavior required to create the necessary change.

So what are you offering?

This specialized service will lead you and your senior leadership team through the entire process from introduction to a communications and performance review plan. This is real work requiring commitment and concentration! Originally conceived as seven sessions spread over 14 weeks, with homework between each session, adjustments can be made to meet your unique circumstances.

The sessions

Session 1 — Introductory presentation

  • Understanding the underlying concepts

Session 2 — Mission, vision, values

  • Affirm organization’s mission, vision and values
  • Set the strategic planning horizon
  • Create the quantified vision statement
  • Draft a change agenda

Session 3 — Strategic analysis

  • Conduct a strategic analysis
  • Identify and evaluate key issues

Session 4 — Create the strategy

  • Define the value gap
  • Update quantified vision statement
  • Develop the value proposition
  • Review the value chain
  • State the strategy

Session 5 — Create the strategy map

  • Identify the strategic objectives
  • Identify the strategic themes
  • Document cause-and-effect relationships across the business

Session 6 — Create the scorecard

  • Select measures
  • Agree on performance targets
  • Identify and prioritize initiatives
  • Assign responsibility and accountability

Session 7 — Implementation

  • Develop a communications, management and performance review plan

This process can be modified based on your unique organizational requirements.

An introductory presentation is also available for association and group conferences.

For more information on succession planning:

Contact your local SBTDC center. Or call 573-884-1555. Or email musbdcadmin@missouri.edu.