Posts Tagged ‘strategic planning’

In 100 Words: Time for Strategy Planning

Tuesday, November 1st, 2016 by AdvisorCatalyst

As leadership teams craft strategy plans for the upcoming year, they should remember the following lessons:

• There are no formulaic answers, however, you can benefit from a systematic approach to both your preparation and strategy planning conversations.

• Markets are dynamic so be disciplined in your strategy thinking. Challenge and test your basic assumptions – even if they are producing good results. Things change.

• Strategy requires clear choices and resource commitment. Each decision either reinforces or weakens the whole. The strength of how the decisions weave together form the fabric of compelling business models (think IKEA, The Container Store and Southwest Airlines).

“Unless commitment is made, there are only promises and hopes… but no plans.” – Peter Drucker

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In 100 Words: Test Your Assumptions

Friday, November 1st, 2013 by AdvisorCatalyst

Every business is built on a particular set of assumptions – assumptions about customer desires, the best delivery solution, the competitive landscape, external trends and internal capabilities.  Considering these varied elements, and their shifting nature, we quickly realize every business model is merely hypothesis.

Over the next several months, companies will engage in the routine of strategic planning for 2014 and beyond.  This is a good time to test a business model hypothesis.  Leadership teams must have the courage to ask the question, “What underlying assumptions about our business are no longer valid?” and wrestle with the answers and related consequences.

“We simply assume that the way we see things is the way they really are or the way they should be.”  (Stephen R. Covey)

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In 100 Words: Strategic Retreat? More Like Strategic Advance.

Monday, November 1st, 2010 by AdvisorCatalyst

This is the time for annual planning sessions, and many business leaders are pulling their teams together for a strategic retreat. But why do we call it a retreat? Retreat is a negative word synonymous with withdraw, relinquish, and concede. Is that your frame of mind as your organization plans the coming year? I don’t think so.

Forget the retreat. Lead your organization on a strategic advance. Plan how to advance your purpose and achieve your goals. Assess your current position, identify the target, and push forward. That’s what you really hope to do, so call it what it is.

“There are risks and costs to a program of action. But they are far less than the long-range risks and costs of comfortable inaction.” (John F. Kennedy)

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