Questions and Answers
What points should we keep in mind when doing strategic planning?
- Keep it simple - use an uncomplicated process that is results-oriented.
- Don't start planning until you have a solid commitment from the leadership.
- Be sure the CEO and key executives are active participants in the process.
- Expect each team member to look at the interests of the entire company.
- Keep the size of the group small - 6-10 members at most.
- Don't have the CEO or a key manager run the strategy sessions. Instead, choose a "process manager" who will pay attention to agenda, procedures and channeling discussion.
- Don't seek perfection. Write the best plan you can in the time available and don't forget to execute it.
- Break the process up into separate sessions of a few days each, over a period of months.
- Pay close attention to assumptions.
- Don't follow the same strategy as your competitors.
- Learn to say "no" to some opportunities.
- Complete the first plan, and then try to improve on it a year later.
- Develop realistic action plans based upon time and money available.
- Establish rigorous procedures for monitoring progress on the plan and for assessing results.
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