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Whether you run a start up or a large corporation, Strategic Planning can not only create a blueprint for growth, but can also aid your team in efficient decision making and prioritization. Learn the basics and get started with easy-to-use planning tools.
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Transform Your Company A Blueprint for Strategic PlanningBy Mark Krebs
Always Forward…
Strategic Planning is the key to transforming your company.
Developing the Transitional Framework Components and measuring them against your key performance indicators is the first step.
Always Forward…
StrategicObjective
Vision
Mission
Planning Tools
Transformational Framework Components
CriticalSuccessFactors
Always Forward…
#1 Vision
The Vision Statement is the most critical element in Strategic Planning.
It must be inspirational, lofty, and ideal. It should also be simple so that every team member can recite it when asked.
Examples:
Our goal is to be the leading specialty retailer of home décor in each of our markets.
To become the premier resource for all those pursuing their creative dreams.
Always Forward…
#2 Mission
Your company’s MISSION is a strategic & dynamic statement that can change over time.
If your company has multiple brands, each brand can have a different mission, but it should always check back to the VISION.
Always Forward…
#3 StrategicObjective
The Strategic Objective must be measurable and achievable within two to three years.
Examples:
To improve profitability and comp store sales growth through inventory optimization and planning
To better serve our customers through a national rollout of highly productive superstores that achieve superior financial results
Always Forward…
#4Critical SuccessFactors
The Critical Success Factors support the Strategic Objective.
These factors are to be developed by cross-functional teams within the company.
They will have their own Strategic Objective and Tactics to support them and must be measurable to understand impact. Always Forward…
Examples
Brand AwarenessIn Store Experience
Continuous ImprovementValue Proposition
Team Member Development
#5 PlanningTools
For a copy of the Strategic Planning Worksheet, as well as a list of action items your company can use to begin this process, shoot me an email.
Always Forward…
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