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How to use multiple scenarios in planning
Scenario planning can be a very important part of your strategic plan. One question that sometimes comes up is should I use a single scenario or multiple scenarios? Another question is with more than one, how do you choose what the scenarios are? Should you use more than one? A single scenario is the basic […]
Continue readingMake strategic thinking easier
You’ve seen it happen, perhaps dozens of times: A company makes some choice that looks good on paper, but leads to major strategic problems. No one is immune to this problem, because good strategic thinking is hard. Why is this? And how can we make strategic thinking easier? There are three basic reasons why good […]
Continue readingStrategic Performance
One of the great challenges in executing a strategic plan is getting the team to perform and be motivated by the strategy. Indeed, strategic performance in implementation is the achilles heel of strategic planning. It’s common to hear people say “We did strategic planning, but it didn’t change anything.” Obviously, the way you approach strategic […]
Continue readingHow to Predict Trends by Finding Limits
In the first two articles about predicting the future, we looked at types of curves and leading indicators. These tools are useful ways to predict trends, but tends have limits, too. Today, we will look at the types of things that disrupt predictions made with the first two tools – or any other tool. In […]
Continue readingPredicting with leading indicators
We can improve our predictions in strategic planning by predicting with leading indicators. You may have hear of the Composite Leading Indicators, a statistic used by the Federal Reserve to predict recessions. This tool is a good way to anticipate changes in a dynamic system. Choosing important leading indicators for your business may be simpler […]
Continue readingHow to make better predictions 1 – the shape of the curve
One of the things we cannot avoid in strategic thinking is making predictions. While predictions, being assumptions, inevitably carry the risk of error, there are things we can do to make better predictions. When you can match an understanding of future trends with a clear vision, your plans are much more likely to be successful. […]
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