The method we typically use in our strategic
planning is the Balanced Scorecard. The balanced scorecard is the
"best-practice" is strategic planning and follows the process defined
below;
-
Financial - What do we need to achieve to
keep investors and stakeholders excited about investing our company.
To financially sustain and grow profitably what must we achieve?
-
Customer - to achieve our Vision how should
we appear to our customers? How should we be perceived by our
customers to attract them and have them pay for the value we
provide?
-
Internal - What must we accomplish
organizationally to achieve our customer objectives? What are the
processes we must excel at?
-
Learning and Growth (Org/Dev) – What
competencies and resources are needed to meet and sustain our
strategic deliverables?
- Create and/or Clarify the Vision and
Strategy with the team
- Establish the Objectives that achieve the
Vision
- Establish the measures that will define the
success in meeting the Objectives
- Develop the Activities to Achieve the
Objectives and Measures
- Prioritize Objectives
- Prioritize projects
- Assign sponsorship to senior executives
- Develop Metrics and align compensation and
award programs
- Communicate and establish communications
process
- Establish project teams
- Execute
- Feedback
The process is easily described however
executing the each step in a way that facilitates the best thinking
and deploys the right tools from strategy development through project
management and compensation and rewards programs make the difference.
