I was recently honored to present information on Strategic Planning and Goal Setting to eight other Goering Center members at their Round Table meeting. These business owners and leaders gained insight on how to connect the Strategic Planning process with real actionable goals and organizational performance. If you link your Strategic Planning, Goal Setting, and Activity in your organization Performance will improve with proper monitoring and engagement.
Business often times put off the Strategic Planning process due to confusion over its value contribution or the required time consumption and effort. Once you have a strong Strategic Plan with a current Mission, Vision, and Values the annual or interim updates don’t need to be burdensome, but they do need to be effective. If the Objectives, Goals, Strategies, and Measures aren’t updated and linked to the overall Strategic Plan on a regular basis the plan becomes ineffective.
Most of us have grand goals and visions of what we want to accomplish with our businesses. So do mountain climbers when they want to reach the crest of Mt. Everest. Would the mountain climber attempt to reach the pinnacle without an extraordinary amount of planning? Of course not! And, neither should you. If you want to achieve great results take the time to review, update, or create your Strategic Plan.
Include an ownership component. Make sure someone in the organization is assigned the ownership responsibility for each Objective, Strategy, and Tactic and that they have a backup person assigned to assist in moving it forward. Then design you monitoring and course correction efforts around these assignments. Use Dashboards for efficient monitoring at each level.