Strategic Planning Process – An Introduction – …
Multiple scenarios communicate to planners that while the future is unknowable, it may be anticipated and its possible forms can surely be better understood. In the language of strategic planning, a plan may be assessed against any scenario to test its "robustness." An effective plan, therefore, is one that recognizes the possibility of any plausible scenario. For example, in a planning conference with the president, the academic vice president might speculate how a particular strategy being proposed would "play itself out" if the future generally followed Scenario I and, then, what would happen given Scenario 11. Heydinger has developed several plausible scenarios for higher education, which, although lacking the specificity required for actual institutional planning purposes, convey the flavor of a scenario (see ).
This chapter defines the stages of the strategic planning process.
A company's mission is its reason for being. The mission often is expressed in the form of a mission statement, which conveys a sense of purpose to employees and projects a company image to customers. In the strategy formulation process, the mission statement sets the mood of where the company should go.
Emerging issues and events that are ranked according to their weighted importance have a built-in assumption that should usually be challenged; that is, the ranking assumes that the administrators and the institution will be equally effective in addressing all of the issues. This assumption is almost certainly false and seldom of great importance. Suppose that the top priority issue is one on which the institution could have little influence and then only at great cost but that a lower-level item is one on which the institution could have a significant impact with a small investment of resources. It would clearly be foolish to squander great resources for little advantage, when great advantage could be obtained for a much smaller investment. Thus, in addition to the estimation of the weighted importance, the extent to which the event might respond to institutional actions of various costs and difficulty must be evaluated. The cost-effectiveness ratio measures the relative efficiency of alternative institutional actions-actions that are expressions of strategy. This outcome is especially evident when the differences in ratio are small, but if the emerging issues are competing for the same resources, the cost-effectiveness ratios will be essential in guiding the effective use of the institution's limited resources. The top-ranked events may also be important to major administrative functions other than strategic planning. Many corporations, trade associations, and not-for-profit institutions have formed special "issues management committees" to support the authorized leadership of the institution in managing all of the resources they might have available to address an emerging issue. While such systems may be more formal than is needed at most institutions of higher education, they may serve as a useful model.
Strategic Planning Process from Start to Finish
Formal strategic planning developed in large companies and business schools in the decades following the Second World War. Most models of strategy planning today reflect those beginnings and reinforce the widespread notion that planning is a big, complicated process. Nothing could be further from the truth. Like most management processes, it should be lean, structured and thorough.
The Stages of the Strategic Planning Process - James
In many companies, a quest for perfection dooms the planning process. The managers regard the choices to be made as so momentous that they must find perfect answers or risk losing the company. This kind of attitude often lengthens the information-gathering phase infinitely.
Strategic Planning Diagnostic - Bain & Company …
Many business leaders are frustrated with their strategy planning process. Decisions are often based on top of mind thinking rather that fact based analysis. "Me-too" strategies are all too common. There is frequent failure in turning intentions into results.
The Stages of the Strategic Planning Process - …
At one seminar for small and mid-sized companies, we asked each of the attendees how long his or her company had been doing strategic planning. A member of one group present said that their company had been doing it for five years. Thinking they surely had some insights to share with the group, we asked if they did a better job with each successive planning cycle. "Successive cycle?" one responded, a bit puzzled. "We're still gathering competitive and market information. We hope to start doing the planning next year."