Strategic Planning for Your Small Business

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Sync Individual Strategic Action Plans with Compensation

A common trend in compensation plans is to pay for performance. No doubt about it; people pay attention when it comes to their own pocketbooks. Linking performance to short-term goals and action items [more…]

How to Create a Strategy-Focused Organization

Organizations that are strategy-focused are more effective with their resources, have higher employee retention, and make more money because they serve their markets better than their counterparts. And [more…]

Strategic Planning: Coach for Achievement and Motivation

Acting as a coach, you can use the strategic plan as your framework to guide your team to high performance. Think about your favorite Olympic athlete. Do you think the athlete’s goal is foremost on her [more…]

Strategy Reviews: Heartbeat of Your Management Process

The monthly or quarterly strategic plan review meeting is the heartbeat of the strategy management process. In order for a plan to be an effective management tool, it must be up-to-date, guide decision [more…]

Strategy Reviews vs. Operational Reviews

Differentiating between a strategy review and an operational review is important. Simply put, an operational review is an in-depth look at the big picture, addressing communication issues, operating procedures [more…]

Measure Strategic Plan Success with Performance Management Systems

After you have a strategic plan in place, a powerful tool to monitor your progress and communicate company direction is performance management software. Before you choose a system for managing performance [more…]

Tips to Move Your Strategic Plan to Completion

Completing your strategic plan is on your to-do list, right? But is it slipping lower and lower down the list? Don’t worry; you’re not alone! In fact, most everyone in the planning process struggles with [more…]

Maintain Momentum in Your Strategic Planning Process

Creating momentum in your life, just like in business, takes increasing the activities that move you forward and decreasing those that hold you back. Sounds like a snap, but living the life you desire [more…]

Strategic Planning Tip: Eliminate Your Personal Energy Drains

Energy drains are those activities or circumstances that drag you down. And when you’re dragged down, you’re probably not putting too much effort into your planning process. Recharge your energy with anything [more…]

Strategic Planning: Map Your Strategy

Seeing your whole strategic plan — the relationships and dependencies — can be difficult, but doing so is necessary to make sure that your company sees the big picture. Unlike financial plans, with income [more…]

Contribution Analysis: Strategic Plan vs. the Bottom Line

Just because a market looks attractive in a strategic plan doesn’t mean that you can serve it profitably. Before your creative folks start churning out cool ads, do a quick contribution analysis. A [more…]

Estimate Revenue and Expenses for Your Strategic Plan

Expense and revenue estimating is an imperfect science; during strategic planning it’s meant to give you an idea of the additional cash outlay you need to implement each area of your plan and the revenue [more…]

Strategic Planning: What Is Scenario Planning?

In the strategic planning world, scenario planningis a way of simplifying a complex future by providing the opportunity to ask the what-if questions and to rehearse how you may respond should a certain [more…]

Strategic Planning: Identify Your Short-Term Uncertainties

Although big, game-changing driving forces may present an array of opportunities and threats in your strategic plan, a number of smaller scenarios hit closer to home — the what ifs. These scenarios are [more…]

Strategic Planning: Construct Possible Alternative Outcomes

After figuring out what one of your strategic plan’s short-term variable or uncertainty is, you want to develop other possible outcomes — or basically, plan for the what-if scenario. Here are the steps [more…]

Strategic Planning: Scenario Planning and the Butterfly Effect

Would you sleep better if you had a clear idea how to mitigate real risks in your strategic planning and business operations? One way to mitigate the uncertainty of the present is to plan for the future [more…]

Strategic Planning: Confront Your Longer-Term Futures

The goal in scenario planning isn’t to create one specific future. Instead, by drawing attention to key drivers and exploring how they push the future in different directions, planners create an array [more…]

Connect Your What If Scenarios to Your Strategic Plan

In the beginning of your scenario planning phase of your strategic plan, make a strong connection with scenarios and strategy by choosing a decision or issue that has significant strategic implications [more…]

Strategic Planning Case Study: Shell Energy Scenarios to 2050

As part of their strategic planning process, major corporations and research firms often develop and share future scenarios specific to an industry’s future or to address major global problems. Shell Oil [more…]

Strategic Planning Case Study: Cisco’s Internet Scenarios to 2025

For an excellent example of strategic planning at work, consider the following case study. Cisco and Monitor Global Business Network set out to develop scenarios that answered important questions about [more…]

Strategic Planning Case Study: Chatham House’s Food Futures Scenarios

Global food supply and food prices can jump-start their strategic what-if scenario planning thanks to a Food Supply Project commissioned by the United Kingdom in 2008. Chatham House commenced the project [more…]

Strategic Plan Considerations for Entrepreneurial Organizations

In the final phase of the strategic planning process, you will look at your own personal vision, determine the value of your company, and figure out how to plan for your company’s survival after you leave [more…]

Strategic Planning: Establish the Business Owner’s Vision

Business owners have the unique responsibility of determining the strategic direction of an organization based on their personal endgame — the final result they want out of their business. An endgame can [more…]

Strategic Planning: Business Valuation

Few business owners are fortunate enough to sell their company when its value is at an all-time high. Even fewer owners who’ve sold their companies will ever know how or whether they could’ve achieved [more…]

Strategic Planning: Resources for Business Valuation

The comprehensive approach to determining your company’s value is to conduct a business valuation that includes market comparisons. Several major databases are available via subscription, such as Done [more…]

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