In your text, Chapter Nine, Table 9-6, indicates a process that is necessary for strategic planning to be successful. In your opinion and based on the readings from the chapter, rank the top three. Identify the number and the topic and why they are important in this process. For example, you think number three is the most important.
Identify number three – the topic- and then explain the process. Use at least one outside source in supporting your answer.
A: After reviewing table 9-6, I believe the three most important guidelines for the strategic planning process to be effective are:
2. It should be a learning process for all managers and employees.
3. It should be words supported by numbers rather than numbers supported by words.
6. It should challenge the assumptions underlying the current corporate strategy (David et al., p.288, 2020).
The importance of strategic planning being a learning process for all managers and employees is due to the mindset people have when in a learning mode. When people are interested in learning, they are more open-minded, curious and inquisitive. I believe this fosters creativity and safety amongst those involved in the planning process when sharing their ideas. Creating a safe environment is key to strategic planning, as the group must have honest, open conversations about the most difficult issues facing the organization (Dye & Sibony, 2007).
In our data-driven world, having strong analytics (numbers) to support our ideas is imperative. The world of gut-calls and decisions that just “feel right” is gone. Our world is so full of rich data that if we can’t support our own ideas with the combination of quantitative and qualitative data, then we should strongly reconsider if it is an idea worth sharing.
Strategic planning is cyclical, which means it isn’t ever done. Each time a team restarts the strategic planning process they should be referencing their current and prior strategies to see if they still are relevant or if they have actually followed their strategy. Reviewing your current strategy after you have spent time pursuing it exposes the assumptions you had when you initially created the strategy.
David, F. R., David, F. R., & David, M. E. (2020). Strategic management: Concepts and cases, a competitive advantage approach. Pearson.
Dye, R., & Sibony, O. (2007). How to improve strategic planning. McKinsey Quarterly, 3, 40.