In this post, I will walk through the five steps in the strategic planning process that we follow with our exclusive process, Aligned Strategy Development.
In this episode, we were joined by Micah Lorenc, the Director of Business Architecture for a large insurance organization. For most of his career, Micah has been involved in the corporate world, facilitating and developing strategic plans, as well as in the entrepreneurial world, working on new and interesting creative projects. He recently merged these two worlds through the development of an online course aimed at helping entrepreneurs and small businesses learn about strategic planning.
Developing a strategic plan is a valuable process to have both a strategic planning document that guides the organization, as well as to ask important questions that will allow you to uncover different needs that exist in your organization.
If you think that strategic planning is tedious, uncertain, and difficult, you certainly aren't the first ones to tell us so. This white paper compiles a list of the 7 most common objections we hear to strategic planning, and uses research and facts to give an objective view on the modern movements and trends in strategy. The aim of this white paper is to show that strategy consultants understand the problems with traditional strategic planning, and that strategy is moving towards mitigating these key concerns.
The study of management has evolved greatly over the past 70 years as organizations seek to run better, grow faster, and accomplish their organizational purposes (read: mission) in the most effective way.
Through that process, managers, researchers and academics have created a wide range of frameworks to guide you to structure your strategic thinking and business growth.
Strategizing under uncertainty
How do you build a strategic plan for your company if you don’t have certainty about the future?
That’s like laying the foundations of your house on a ground that might move or shift in the future.
As technology changes and companies are forced to adapt to general uncertainty as far as trends go, organizations must strike a balance within their strategic planning to incorporate innovation and scenario planning. This will help them cater to both existing consumer needs, as well as their internal business needs in the future.
In this HBR ideacast, the CEO of Evernote shares how changes in how people work affect design thinking in their industry as well as all other areas of productivity.