Helping you achieve your personal best!
Ernest A. Lewis .
Executive Coach .
Toledo and Findlay!
"The reward of a thing well done
is to have done it.”
- Ralph Waldo Emerson
A Model for Strategic Planning
Vision and Mission
Our vision is what we would like to create in the long term. What will our organization look like, what will we be doing, why we exist, etc. Usually vision is created in terms of three to five years.
Our mission is how we will create our vision on a daily basis. What will we do today and in the short term. Usually mission is created in terms of one to two years.
Strengths, weaknesses, opportunities and threats must be looked at in order to assess our current organizational situation in concise terms to be able to determine where we want to go in the future.
Strengths and weaknesses are an organizational or internal evaluation. Strengths are those things we do well. Weaknesses are those things we don't do so well.
Opportunities and threats are an environmental or external evaluation. Opportunities are those things our organization might seize upon to do better. Threats are those environmental factors that may hinder our performance.
Through a thorough SWOT Analysis we can determine our competitive advantage and thus define the best strategy for our organization.
Examples of SWOT Factors
Not enough equipment
Untapped market potential
Favorable market shift
Strategies are either cost based strategies or differentiation based strategies. Cost based implies that we will be the low cost producer in our industry. Differentiation based means our product or service is better or unique as compared to our competitors.
Setting strategic goals is essential along with setting in place measurement and evaluation processes to track our performance over time. Critical in this process is personal and team accountability.
KEY POINT: Goals (long term) happen better and easier when you break them down into objectives (short term) and tasks (day to day actions!)
Results should be evaluated on a regular basis. Critical areas to evaluate can be revenues, market share and customer satisfaction. With positive results there should be some reinvestment in the organization not only monetarily but in the strategic planning process itself.
A complicated name but a simple tool with lots of value! Determining priorities can often be difficult. It is not always clear as to where our true or most critical problems are. The ID can help:
1) Place the issues or tasks you face in a circle.
2) Compare each issue with every other issue.
3) In each case, draw an arrow from the issue that is the greater influence over the other.
Example: “Does customer service influence sales more or sales influence customer service more?” Most would answer customer service has the greater influence. So, draw an arrow from customer service to sales. If no clear relationship exists, no arrow is required.
4) Total all outgoing arrows and incoming arrows for each issue as X out / Y in. Issues with more outgoing arrows are called drivers or root causes. Applying your time and energy on a driving issue will resolve the issue and alleviate other issues, at the same time, for maximum benefit. In our example, the major driving issues are Planning and Customer Service. And, it shows Profit as a result! Try it out!
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