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BENEFITS OF DOCUMENT
Organizations need strategic planning because the world changes constantly. It is foolhardy and unrealistic to assume that economic conditions, consumer needs and expectations, competition in the marketplace, the macro environment or a host of other factors will remain the same for two, three or five years into the future.
Insights from world-renowned strategy consultants such as McKinsey and Gartner reveal that although strategic planning is a basic business practice, many organizations are struggling to make it work—the results often fail to meet expectations.
Moreover, our research and experience have found that most strategic planning processes are poorly conceptualized and poorly executed; the process is often not very creative, and it is tactical rather than strategic in nature; and the so-called strategic plan rarely impacts the day-to-day decisions made in the organization.
To be successful, a strategic planning process should provide a template against which all such decisions can be evaluated.
What this guide will focus is not so much on the "strategy tools," but a step-by-step systematic approach to strategic planning. The strategic planning process presented consists of eight sequential steps to guide organizational leaders and key stakeholders to plan and create its future. The Eight Steps of Strategic Planning include:
• Step 1: Plan the Planning Process
• Step 2: Define Shared Values and Mission
• Step 3: Analyze the Current Organizational Profile
• Step 4: Create an Inspiring Vision
• Step 5: Compare Current to Envisioned Organization
• Step 6: Develop Strategies, Objectives and Plans
• Step 7: Execute Action Plans
• Step 8: Monitor Results and Make Improvements
What is unique about this strategic planning process model compared to others?
1. Firstly, the model includes a "pre-planning" step for assessing the organization's readiness for strategic planning, and to make the necessary preparations (e.g. stakeholder management) for a successful planning process;
2. Secondly, the model incorporates steps for values scanning and shaping the organizational culture as the impact of the organizational culture on both the process of planning and the resultant strategic plan is considerable;
3. Thirdly, the model facilitates the envisioning of the future state and creating the strategic business model prior to conducting the performance assessment—this enhances the planning team's ability to be creative and innovative before it must become analytical and critical;
4. Last, but not least, the framework not only covers the traditional "strategy tools" such as BCG Matrix and Porter's Five Forces, it also includes relatively newer frameworks/ tools focusing on value creation such as Blue Ocean Strategy and Business Model Canvas.
Using this model for strategic planning will provide both new direction and new energy to the organization. It can be used during annual planning cycles, and/or when important real-time strategy decisions need to be made.
This comprehensive Strategic Planning PPT training presentation provides a model for transforming organizations. It is most suited for the organization's internal planning team as well as strategy deployment professionals and independent consultants. The steps and/or sub-steps may be adapted to suit the specific needs and desires of the organization.
1. Acquire knowledge on the key concepts and principles of strategic planning
2. Describe the eight-step strategic planning process and the key strategy frameworks and tools
3. Define the key factors for successful strategic planning
1. Key Concepts and Principles of Strategic Planning
2. Strategic Planning Process: The Eight-step Strategic Planning Model
3. Key Strategy Frameworks and Tools
4. Strategic Planning Best Practices
Included are the key strategy frameworks and tools such as: Power/Interest Grid for Stakeholder Analysis; VRIO Framework; Porter's Value Chain; PESTLE Analysis; BCG Growth/Share Matrix; McKinsey-GE Matrix; Porter's Five Forces Analysis; Competitive Profile Matrix; SWOT Analysis; Porter's Generic Strategies; BCG Strategy Palette; Ansoff's Matrix; Blue Ocean Strategy; Impact-Probability Matrix; Strategyzer's Value Proposition Canvas; Strategyzer's Business Model Canvas; McKinsey 7-S Model; and Balanced Scorecard.
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Source: Best Practices in Strategic Planning PowerPoint Slides: Strategic Planning: Eight Steps to Implementation PowerPoint (PPTX) Presentation, Operational Excellence Consulting
ABOUT THE AUTHOR: OPERATIONAL EXCELLENCE CONSULTING
Operational Excellence Consulting is a leading management training and consulting firm dedicated to helping individuals and organizations improve their effectiveness and productivity in the post-pandemic new normal. Our mission is to drive lasting beneficial change by leveraging design thinking and lean management approaches.
We work with a diverse range of clients, including government bodies, multinational corporations, and small and medium-sized enterprises, across a wide spectrum of industries.
Our firm offers a comprehensive suite of capabilities, including Design Thinking, Customer Experience Management, Business Model Innovation, Lean Process Redesign, Total Quality Management (TQM), Total Productive Maintenance (TPM), Kaizen, Value Stream Improvement, Hoshin Kanri (Policy Deployment), Problem Solving Techniques & Tools (e.g. PDCA, 8D, A3, etc.), Training Within Industry (TWI), Suggestion System and Benchmarking.
To ensure the widespread adoption of operational excellence techniques and tools, we pride ourselves on developing high-quality, customizable training materials, presentations, frameworks, and templates to complement your training and business needs.
Operational Excellence Consulting has published 204 additional documents on Flevy.
This business document is categorized under the function(s): Organization, Change, & HR Strategy, Marketing, & Sales
It applies to All Industries
File Type: PowerPoint (pptx)
File Size: 26.1 MB
Number of Slides: 192 (includes cover, transition, & marketing slides)
Related Topic(s): Strategic Planning
Purchase includes lifetime product updates. After your purchase, you will receive an email to download this document.
Terms of usage (for all documents from Operational Excellence Consulting)
Initial upload date (first version): Nov 7, 2022
Most recent version published: Nov 8, 2022
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