Conventional thinking suggests all businesses should develop strategic plans and business plans to help direct the business and facilitate successful growth.
Strategic planning sometimes impedes strategic thinking and dims real vision. The most successful strategies are visions not plan details.
One option to formal planning is for companies to adapt Strategic Thinking. Fast growing companies need to take advantage of challenges and opportunities and turn their size into an advantage.
- Plan informally on the go. All big ideas don’t have to come from formal strategy planning offsite. Quick huddles with key team members to examine key issues are effective.
- Challenge. Brainstorm to ask “why not” when faced with the inevitable “that won’t work”. Test whether initial negative positions are really valid.
- Make small bets. Large companies with major investments at stake may do exhaustive analysis before acting. Smaller companies can develop and test new potential strategies by making smaller bets by discussing an idea with a customer before the item is built, seeking out a potential supplier that is trustworthy, or discussing the idea with another person with expertise in the area.
These are some options available for strategic planning; the important issue is to make the process fit your organization. Be sure to take some action, sitting on the sidelines while competition takes the business should not be an option.
Let me hear your thoughts.
Gerry@polarisgroupmc.com
No comments:
Post a Comment