July 31, 2015

Strategic Planning – Key Success Factors

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Organizations employ strategic planning as a way to move toward their desired potential status. It could be the process of developing and implementing plans to achieve goals and objectives. A strategic plan really helps to provide direction and focus for everyone employees. Communicating the strategic plan to all or any employees is an important critical step. You can view more factors that effect the strategic planning on fidelum.

There are a number of ways that insure that the proper strategic plan leads to the success of the organization.

1. You can set specific real world objectives. These could be as simple as implementing the latest pricing model.

2. The objectives should be specific so that there is no ambiguity about what is required. Exceptions will of course exist if you have information that must still be developed to be able to finalize a specific objective.

3. Expected timing and personnel accountability must be created throughout the action planning each objective. Ideally there must be one individual who is accountable to company management for attaining each core initiative.

Each Strategic Implementation Plan also offers an owner. For purposes of SIP accountability, each owner will be accountable for the President or another top-level executive, depending on organizational structure. The key managerial tool to be sure steady, consistent progress on SIP tasks could be the formal Strategic Review Meeting. 

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