Strategic planning is not a one-time event, but a dynamic process that requires constant monitoring, evaluation, and adjustment. To drive continuous improvement in your strategic planning, you need to adopt a systematic approach that incorporates feedback, learning, and innovation. Here are some of the best ways to do that.
SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. These criteria help you define your strategic objectives and track your progress. SMART goals also help you communicate your expectations and priorities to your team and stakeholders. By setting SMART goals, you can ensure that your strategic plan is aligned with your vision, mission, and values.
It is important that the SMART goals you choose are integrated into the regular work each team is doing. Leaders and managers shouldn't say they "don't have time" to work on strategic plans or continuous improvement goals because they "have work to do." Make it regular work.
Data and analytics are essential tools for measuring your performance, identifying gaps and opportunities, and testing your assumptions. You should collect and analyze data from various sources, such as customer feedback, market research, competitor analysis, and internal metrics. You should also use data visualization and dashboards to present your findings and insights in a clear and compelling way. Data and analytics can help you make informed decisions, validate your strategies, and optimize your results.
The main results and outcomes for continuous improvement projects should be the business results and outcomes. The goal of a continuous improvement initiative is to improve the business. Ensure the goals are the same. e.g. If you want to increase sales by 15%, that should be the goal of the continuous improvement project too. This integrates and focuses the work, and teams will be less reluctant to do continuous improvement work as it leads to their same goals.
PDCA stands for Plan, Do, Check, and Act. It is a simple but effective method for implementing and improving your strategic plan. PDCA cycles involve four steps: plan your actions based on your goals and data, do the actions and record the results, check the results against your expectations and standards, and act on the feedback to correct or improve your actions. PDCA cycles can help you create a culture of continuous improvement, experimentation, and learning in your organization.
Your team and stakeholders are key partners in your strategic planning process. They can provide valuable input, feedback, and support for your plan. You should involve them in every stage of your strategic planning, from setting the vision and goals, to designing and executing the strategies, to reviewing and refining the outcomes. You should also communicate your plan clearly and frequently, and solicit their opinions and suggestions. By involving your team and stakeholders, you can foster collaboration, engagement, and ownership of your strategic plan.
Always ensure you are doing improvement initiatives 'with' a team, not 'to' a team. Their success is your success, not the other way around. Nobody cares much if lots of process mapping is completed, changes are recommended, and nothing happens with business goals.
It is important to co-create goals. Strategic plans shouldn't be separate from the main goals of each division or department. Don't put your leaders in a position where they have to choose to spend time on their strategic goals versus their work goals. Integration matters!
Sometimes, you may need to look beyond your own organization and industry to gain new insights and ideas for your strategic planning. You can seek external perspectives from experts, mentors, peers, customers, or other sources that can offer different viewpoints and experiences. You can also benchmark your performance against best practices and standards in your field or other sectors. Seeking external perspectives can help you challenge your assumptions, identify blind spots, and discover new opportunities for improvement.
Your strategic plan is not a static document, but a living guide that should evolve with your changing environment and needs. You should review and update your plan regularly, at least once a year, or more frequently if necessary. You should assess your achievements and challenges, review your goals and strategies, and adjust your actions and resources accordingly. You should also celebrate your successes and learn from your failures. By reviewing and updating your plan regularly, you can ensure that your strategic plan remains relevant, realistic, and effective.
Create an operating system that includes at least a quarterly review of leading and lagging indicators of progress to the strategic plan.
If you are unable to implement and sustain the strategic planning goals, then they aren't the right goals. Adjust. An average plan implemented and sustained is going to add more value than a stellar plan never implemented.
Strategic planning should also include measures to: enhance accountability; track progress & performance; increase transparency & communication; and engage & motivate employees. As Peter Drucker said, "What gets measured gets managed" and "You can't improve what you don't measure."