Strategic Planning For Dummies
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If a company wants to grow, they need a strategic plan. In the boardroom, we toss out numbers—10, 20, 30 percent—but we may not think through the impact of the goal on sales or support.
Strategic Planning for Dummies and Experts Alike
The sales organization delivered. The realistic goal on the manufacturing side of the house was only about three percent. EO: They can help determine if a strategic plan is sound. They can use a Balanced Scorecard [a strategic planning system developed by Drs. They can ask: Do we have the people to support the operations? Are we delivering value to customers to meet financial goals?
Look at the strategy. Really get connected with the rest of the organization. It takes the unknown out of it. These are the questions the Fortune ask. SPJ: So sales will help drive the profitability of the organization by doing more than just selling. Sales has a ton of customer information.
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They have any number of customer touch points, whether the information is gathered in a formal manner or not. What are the trends? Sales leaders must review the numbers, ask the questions and make sure there is alignment.
Realizing the true role the sales force can play should be very exciting for anyone in a leadership role. The result is empowering. A business' strength could be its ability to attract local customers, while its weakness might be an inability to break into a non-local consumer base. A local competitor with ties to non-local customers could be facing a financial situation, giving this business an opportunity.
However, the other business remains a threat if it pulls out of the crises. If another competitor is trying to expand its customer base, it is a threat as well.
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This set of goals usually starts three years out and extends to around five years into the future, directly aligning with the mission and vision statements. Long-term goals are the milestones a company sets to guide operations toward their far-reaching objectives.
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Some examples of long-term goals could be for a business to strengthen its hold on the local market, increasing profits or expanding its operations and sales. Each long-term goal should have a few one-year objectives that advance your goals. After you make your yearly objectives, you might break each one down further into short-term goals, which define the actions and objectives for the next three months to get you to your yearly goals.
The plans for achieving your short-term goals are your action plans. Each objective should have a plan that details how it will be achieved. The amount of detail depends on the amount of flexibility you want your managers and team to have. The more detail there is, the less flexibility those that follow it have.
A plan without a vision is just drudgery. But a vision with a plan can change the world.
What Are the Key Components of a Strategic Plan?
By Dan McCarthy. The Coca-Cola Company lists it's core values as:. Leadership: The courage to shape a better future. Collaboration: Leverage collective genius. Integrity: Be real. Accountability: If it is to be, it's up to me.
Passion: Committed in heart and mind. Diversity: As inclusive as our brands. Quality: What we do, we do well. Article Table of Contents Skip to section Expand. Vision Statement.