A common misunderstanding we encounter when working with organizations is the difference between strategic planning and operational planning. While the two are closely connected, it’s important to understand how they are different and how your organization can use both types of plans to move the needle forward on your goals.
Once you’ve had your strategy meeting and have developed your organization’s strategic plan, you might be wondering what comes next.
The strategic planning process doesn’t end once a document is created. To successfully execute your strategy across the organization, careful attention needs to be paid to the next steps: communication, implementation, monitoring and tracking.
While each part of the strategic planning process is important, a little extra attention may be needed when developing your key performance indicators (KPIs). By this stage in your strategy development, you’ve already revised your organization’s vision, mission and Strategic priorities; you’ve worked through your SWOT and PESTLE analyses; and you’ve discussed scenarios and risks that your organization or industry may encounter in the future. You’ve done a lot of great work, but it doesn’t end there.
We’re excited to announce that our Managing Partner, Anthony Taylor, will be speaking at the Engage Strategy Conference that will be held April 28-30 in Portland, Oregon. Hosted by Cascade Strategy, the leading strategic planning software provider, this conference aims to develop excitement around strategy, help senior leaders and managers to develop and focus their teams, and to share strategic insights between attendees.
High turnover is expensive – the time and money invested in staff who have left will need to be invested again for the training of new staff, and there is the additional cost of time and money spent on recruitment and hiring. Additionally, organizational culture and productivity can suffer if staff turnover is frequent. From a capital perspective (both financial and human), it is important for organizations to focus on employee retention as a part of their business strategy.
Every business will see benefits from regular strategic plan development. However, organizations that operate within fast-paced industries, such as the technology sector, will see additional benefits from shorter intervals between planning sessions.
If you’re a non-profit or growing organization with a board, you’ve likely got a big group of stakeholders to communicate with. You need to make sure the board leaders, directors, management, and employees are all aligned on the direction of the organization, while keeping volunteers and external stakeholders and shareholders in the loop.