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Strategic Planning Best Practice 5 – Defined Program

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Organizations must be able to respond quickly and decisively to the rapidly changing business environment. A formally defined strategic planning program consists of a collection of planning and execution activities that help an organization appropriately respond to marketplace events and evolving trends.

A strategic planning program provides the framework for execution consistency and minimizes the risk of inappropriate action or inaction. Comprised of planning, execution, and monitoring and control processes; the strategic planning program structures the way data is collected, assessed, and acted upon. Established prior to event occurrence, the program enhances the organization’s overall responsiveness because it ensures the organization is aware of its environment and prepared to respond to changes in a timely manner.

About the Author

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.

Strategic Analysis Best Practice 2 – advocatus diaboli, The Devil’s Advocate

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StrategyDriven Strategic Analysis ArticleShared experience, organizational pride, and/or conflict avoidance can diminish the criticality of data and conclusion assessment; leading to exaggerated optimism and resulting in an organizational pursuit of unrealistic goals. Inflated expectations may drive investment in projects well outside of the organization’s risk tolerance. In today’s aggressive marketplace and under intense shareholder scrutiny, missteps like these can be disastrous for a company and its executive team.

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About the Author

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.

Strategic Planning Best Practice 4 – Ongoing Planning and Execution

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Market changes wait for no one. In today’s rapidly changing business environment, competitors and suppliers aggressively seek to gain a competitive advantage while government agencies and special interest groups continuously seek to further their agendas. These forces, acting together, demand an organization to be responsive and flexible to maintain its footing within the marketplace.

Ongoing planning and execution enables an organization to appropriately adjust to its changing operational environment. Effective response to marketplace changes is achieved by using a combination of event, routine, and annualized planning and execution activities. Event driven activities, triggered by abrupt marketplace changes, enable the organization to react to significant developments in the business environment. Routine and annualized activities help the organization maintain flexibility in response to slowly evolving trends.

About the Author

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.

Core Performance Measures

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Strategic Analysis Best Practice 1 – Integrity Without Excuses

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StrategyDriven Strategic Analysis Article | Strategic Analysis Best Practice 1 - Integrity Without ExcusesFor any strategic analysis to be effective, it must be done with an open, honest assessment of the facts. Organizations acting with integrity without excuses seek to identify and eliminate instances where fact-based assessment conclusions are diluted by unrelated factors or opinion-based influences. This mitigation often seeks to justify action perceived as desirable when the fact-based evidence would suggest another course. Justification is frequently based on business factors that are not specifically value related or biases lacking a relevant performance basis.

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Additional Information

Additional information regarding strategic analysis can be found in the StrategyDriven whitepaper series Strategic Planning.

About the Author

Karen K. Juliano is StrategyDriven‘s Editor-in-Chief and Vice President of Communications and Marketing. Prior to joining the StrategyDriven team, she helped produce weekly programming for a Public Access Television station and served as a production assistant in the public affairs office at United States Naval Base, Philadelphia. To read Karen’s complete biography, click here.