Writing a Strategic Plan #2
from My Strategic Plan.com 6/13 enhanced by Peter/CXO Wiz4biz
Vision statement: Your vision is formulating a picture of what your organization’s future structure will be and where the organization is headed. What will your organization look like in 3 & 5 years from now? How will you get there? Knowing how you’ll reach your Vision is the heart of your strategic plan, but it’s also the most time-consuming to do. The reason it takes so much time to develop is, because there are a number of routes from your current position to your Vision. Picking the right one determines how quickly or slowly you get to your final destination. The parts of your plan that layout your roadmap are listed below:
Strategic Objectives: are long-term, continuous strategic areas that help you connect your mission to your vision. Holistic objectives encompass four areas: 1) financial, 2) customer, 3) operational, &4) people. What are the key activities that you need to perform in each area, in order to achieve your vision? Strategy: Strategy establishes a way to match your organization’s strengths with market opportunities, so that your organization comes to mind when your customer has a need. This section explains the road to your final destination. Does your strategy match your strengths in a way that provides “value” to your customers? Does it build an organizational reputation & recognizable industry position?
Short-term Goals/Priorities/Initiatives: Short-term goals convert your the Strategic Objectives into specific performance targets to track how you are doing. You can use the term goals priorities or initiatives – whichever you feel fits your situation the best and you are most comfortable with. Me, I use Goals to define short-term Action Items. Effective goals clearly state what you want to accomplish, when you want to accomplish it, how you’re going to do it, & who’s going to be responsible. Each goal should be specific and measurable. What are the quarterly & annual Goals you’re trying to achieve, to reach your vision? What are your specific, measurable, & realistic targets of accomplishment?
Action Items: are planed that set specific tasks that lead to implementing your goals. They include start & end dates + appointing a person responsible Are your Action Items comprehensive enough to achieve your goals? A periodic Progress Report measures & manages your Strategic Plan. What are the key performance indicators you need to track to monitor whether you’re achieving your mission? Pick 5 to 10 goal-related measures you can use to track the progress of your plan and discuss them at management meetings (ie, Quarterly). With any discrepancies, do you need to get back on track or set new goals? In executing the plan, identify issues that surround who manages & monitors the plan and how the plan is communicated & supported. How committed are you to implementing the plan to move your organization forward? Will you commit money, resources, and time to support the plan? If you do, you’d bound to succeed.
Comments: What else do we need to do