By John Maver
Part 4 of a presentation given to Renaissance Forum CEOs
Strategy is about figuring out what is really important and what you can do to influence it. Businesses are a complex network of issues but there are only a few things that really make the difference in the marketplace. I have found that the majority of CEO’s with whom I speak may have a plan but most don’t have it written down. My findings are supported by the Association for Strategic Planning with 63% of companies not having a strategic plan at all. Most have simple short term plans but not much more than a half year. Your plan has to be written in order to really take hold and bring your organization in support. It must cause you to identify the key targets and the plans that will deliver them. It will harness your scarce resources and dictate how to use them most effectively. It aligns the work of your employees. It keeps you on track!
“When I am on that speedway, you had better believe that my team and I are following a written plan that we have developed for success. I am going far too fast to just wing it.” Dale Earnhardt
There are many reasons given for not taking the time to make the investment in developing a strategic plan. Most have to do with time and other priorities. Some companies foolishly believe that their industry is different. It is changing too fast for a plan to be meaningful. Not so! Believe me this is the most productive and beneficial activity you can do for your company and yourself by a long shot. You need a written plan in a format that is useable.
“You shouldn’t expect to walk into a new leadership job with an established strategic plan. Rather you should walk in prepared to lead a strategic process.” Dave Peterschmidt – CEO of Securify and previously Sybase
The Maver Management Group uses a simple one page format that clearly articulates our client's strategic plan, including the tactics that will be executed to bring the plan to life and the measures to keep the company on track. It enables the company to harness their scarce resources and deliver the goals. There are many forms for strategic planning. Find one that works for you and use it!
What is your plan?
Is it clear, concise understandable and actionable? Is it a living document that can be modified as you reach milestones or circumstances change?
Do you have a written long term plan? If not, when?
Call us if we can help you develop one.
Check back tomorrow for part 5 of the presentation.
Maver Management Group