Strategic Planning? Why Bother?
Strategic planning sometimes gets a bad rap. Creating a vision and a set of goals for the next three to five years seems like a waste of time when it doesn’t get executed. And let’s face it…some of you would rather have a tooth pulled than sit through strategic planning sessions. So why bother?
If your strategic plans are put on a shelf and forgotten, then I agree; it’s a waste of time. But that’s a leadership execution problem, not a strategic planning problem.
Developing an effective strategic plan requires significant effort, and discipline and tracking are necessary to execute it. But all organizations should have a current strategic plan because the benefits are substantial. Strategic planning execution will:
- Engage and motivate people. Your team will only be committed if they have a clear understanding and belief of where the organization is heading. Employees also want to know what the plan is.
- Clarify priorities and purpose. A strategic plan of action provides clear priorities to everyone in the organization. Decisions are quicker, and communication is clear because there are fewer conflicting initiatives. Clear goals assure the investment of capital in the areas that will produce maximum return.
- Eliminate confusion and waste. Effective strategic plans will define areas of responsibility and accountability, thereby reducing overlapping efforts. Fewer valuable resources are wasted from a lack of focus.
- Provide feedback on progress. Methods to track and communicate progress are part of strategic plans. As progress is made, success is celebrated and motivation remains high as team members believe in the possibility of success.
- Maximize productivity. When valuable resources are not wasted working on non-important tasks, and each person’s responsibilities are clear, productivity soars.
If these benefits are important to you and your organization, the time and effort you spend developing and executing your strategic plan will be rewarded many times over.
This article was previously published in the July, 2017 edition of VB Front Magazine. Mike Leigh is the President of OpX Solutions, LLC, a performance improvement company that specializes in helping organizations pursue operational excellence through leadership development and process improvement. Contact him at [email protected].