How do you handle resistance or feedback from stakeholders on strategic plans?

If a strategic plan is only a solid and offline document that doesn't adapt and change, it's hard to align your resources, prioritize your initiatives and measure your progress. For that, I suggest a website or a digital platform rather than a document as a strategic plan. A digital interface may help us to plan effectively, adapt and change, and overcome the challenges that may arise along the way.

If you have engaged your peers throughout your planning process and run and open and transparent process…the process itself is a means of beginning to communicate the change. Change is hard. Reiterating the why and why it is important every time is a key to managing a new strategy. Personally, I never use a PowerPoint. We are all moved by stories so I consider my strategy a story that has a hero and an arch - and then tailor that story for the audience. If for all staff it might be something in design with 3-4 bullets. Or a video or a toolkit. Externally, this may look like a campaign.

There are steps before 'communicate your plan' that if missed, will make communication much much harder. The first step is co-design. Get your stakeholders to name what risks they're observing that they'd want to mitigate in a strategic plan, or ask them what opportunities are exciting them at the moment. There are lots of questions you could put to them to help them articulate their perspectives and solutions that you could then reflect in the plan. So by the time you're at the communicating your plan stage, they're already invested and have a sense of what might be in it. Your feedback after that is much more likely to be meaningful and deeper, meaning your strategy will be more meaningful and deeper.

My most successful plans were written by all stakeholders. Assign a member from each group in your team to craft the strategy. Guide them but listen and build in their great ideas. It leads to a better plan and support rather than resistance to the strategic vision and plans.

The most successful strategic plans are the ones which stakeholders can see their own voice in. A robust strategic plan development would involve iterative stakeholder input gathering and alignment at each step of the development process: 1) Fact base development: market intelligence, client pain points, BU performance 2) Plan construction: strategy articulation, KPI development 3) Change management: broad communication, KPI alignment and iterative feedback loops

Here is where I find a RACI is incredibly important. You have to know who is doing what. I am also a big fan of OKRs. Trade offs will need fl balls and doing those quarterly alongside a business review is ideal. A quarterly review gives you the opportunity to probe and find the gaps and the areas and people who need mentors. Creating a share dashboard will keep metrics aligned across teams and if those are embed as part of individual goal setting all elements begin to flow.

In my experience, resistance to a plan goes away once a stakeholder recognizes how the plan would benefit them. Recognizing different perspective early in the strategic process would make the explanation easier.

The strategic plan will vary based on the stages of growth that the company or organization is presently in. . The key is not control, but assessing the value of the creative and innovative people around you. It is super important that the team is transparent and information flow is not hindered by sabotage. The accountability comes from achieving the goals and objectives within a prescribed time or an alternative time chosen. Progress should be weighed on a weekly, monthly, quarterly and annual basis, and should prescribed as milestones versus tasks if you are working from a strategic plan. I also like making each department or entity a profit-center contributing to the whole. Healthy competition breeds enthusiasm and also loyalty.

Assigning roles and responsibilities helps to clarify accountability and reduce confusion. It ensures team members understand their role in achieving plan objectives, clarifies accountability and reduces confusion. This approach optimises resource use by assigning tasks that align with individual strengths and expertise, leading to increased efficiency and productivity. Clear roles and responsibilities prevent duplication of efforts and maintain focus and consistency towards achieving the plan's goals, increasing the chances of success.

This is a great opportunity to have members of the team demonstrate their expertise and growth. Assess the existing team in the first instance and be open to a learning curve where possible. Engagement and collaboration is often missed at this stage. Also having relevant and updated policies and procedures that serve and support the team is essential. Equally so are the checks and balances for implementation. It’s not only high level feedback that’s required because often it’s the junior/support staff who pick up on the anomalies. I can’t think of a role where a person shouldn’t have people skills. Keep this in the forefront of thought when picking for any role - it can be the destruction of the plan without realising.

I disagree with the statement that any changes should be communicated broadly to all stakeholders. Timing is essential. It's certainly important to ensure there is transparency over the process that a company follows to define both longer-term risks and opportunities. Nevertheless, systemic shifts in a company's ecosystem may require dialogue with stakeholders way before making any changes to a strategic plan. Customers, employees, supply chain partners and investors are becoming an increasingly active part of the decision making process and the strategy setting. Once the decision is taken, then the communication of the new plans is a matter of transparency (as well as a legal obligation for public companies).

One thing I have found helpful is stakeholder identification/mapping. This step if done well ensures the development of bespoke communication plan. Early engagement of stakeholders according to bespoke plan in place ensures proactive resolution of differences in viewpoints

Working closely with the CEO, Executive Directors and CFO is essential as one is directing the company or fund strategically and is the face to all stakeholder, and CFO/COO is directing the fund/company financially. One has a strong responsibility for outreach and other crunches numbers and do need assessments. Company rarely do assessments that look at present stakeholders, future stakeholders, past stakeholders and the competition at the same time. Identifying and mapping all stakeholders allows the fund/company to identify and anticipate unmet needs of a stakeholder. This also allows a fund/company to be more innovative and creative to solve problems and develop winning solutions that managed and minimized risk.

In today's fast-paced and dynamic business environment, it is almost impossible to predict and control all factors that may impact a plan. Consequently, it is essential to anticipate and prepare for risks and changes that can affect the plan's execution. Risks and changes, such as market shifts, competitor actions and customer demands, can affect the plan. To prepare, anticipate and have contingency plans in place, it's essential to be flexible, adaptable and communicate any changes to stakeholders. Periodic plan review and updates are vital to incorporate lessons learned and best practices. By being prepared and adaptable, companies can achieve success in executing their strategic plan.

La realidad muchas veces es diferente a cómo se había previsto. Eso no debe paralizar. Al contrario tiene que ser una oportunidad para demostrar la capacidad de adaptación a los cambios. El cambio es continuo, y lo que ayer era una tendencia de moda, hoy puede estar ya anticuado. Por eso, hay que saber convivir con estar realidad.

Involve them in the planning! Or if the plans developed take time to understand their thoughts and ask for their contributions. You are better to have the disrupters/devils advocates ONSIDE rather than OFFSIDE because they will always keep the plan grounded, will tell you the truths when it hurts, and when they go from Disrupter to Promoter that's something powerful!

Let's keep in mind that in the sentence "relevant indicators and metrics that can show you how well you are achieving your goals", I'd called them shared goals because you have to build them leveraging the Stakeholder's advice, not just by asking the product team. The final part "how much value you are creating for your stakeholders" is key for a successful initiative as it should clarify whether or not the needle. Also, don't yo dare monitoring just for a few weeks. Keeping your eyes on the content data is always a plus.

After the pandemic, I see businesses and organizations more concern about what is going out the door and not accounted for, or having the necessary skills sets in-house to meet the growing needs of the stakeholders in a volatile economy. Using key objectives with specific results is probably the best way to track and measure milestones achieved. I think that this type of approach tied into the end resulting goals to be achieved helps employees to become more focus and engaged even if they are working remote and in-house. It then becomes a win-win situations where the employees are now part of the final outcome and not just their participation.

Having clear and relevant indicators and metrics is vital to measure progress effectively. It enables the team to focus on specific goals and objectives, ensuring that everyone is working towards the same targets. Having clear indicators and metrics enable focus on specific goals and objectives while reliable and timely data informs decision-making. Tools to collect, analyse, and visualise data help identify trends and areas for improvement and sharing with stakeholders keeps them engaged. Setting milestones and targets is also important for tracking progress. It provides a roadmap for achieving the plan's objectives and helps to ensure that progress is being made towards the ultimate goal.

I advocate for the inclusion of strategic finance professionals in the strategy-setting process. Their expertise can transform a basic roadmap into a robust execution model that offers visual projections of impacts, metrics, and value propositions. Moreover, a strategic financial model can effectively monitor and mitigate risks. Managing this process becomes simpler with a comprehensive dashboard displaying all necessary Key Performance Indicators (KPIs).

Even the best strategy is a bad strategy if your organisation refuses to adopt it. This isn't the last step, it's the first step, and every step along the way. Make sure you're engaging, listening, collaborating at every stage. Then, when you 'communicate' your strategy, it should already feel like something they've been part of developing.

Rule #1: Never assume what you perceive as resistance is actually resistance. Many people miss instructions, refuse to read emails, misinterpret the message or are just plain confused. And never underestimate the impact of FEAR. Find out why people are not stepping up before taking action. Rule #2: Buy-in breaks down resistance. Get you biggest objectors onto the team. Have them explain why there is a reason to resist. Then ask them to help solve it.

I completely agree with your view on the vital role of community and effective communication in business. It's essential to engage and inform stakeholders transparently, fostering a sense of ownership and trust. In managing risks and changes, adaptability is key in our ever-evolving business landscape. By creating an engaged and motivated community of team members, customers, partners, and investors, businesses can thrive, making them an integral part of their success story.

Effectively managing resistance to stakeholder feedback requires a thoughtful approach. Drawing from experience, I've found that active listening plays a pivotal role. When faced with opposition, I make a concerted effort to understand stakeholders' concerns, probing deeper to uncover underlying issues. I create an open dialogue by acknowledging their perspective and empathizing with their position.

“Early and often” is the playbook framework for garnering support; the earlier, the better. But I’d like to throw in a third variable: speed. Acting quickly tends to get people moving at that cadence with you. Try it!