This will be a two step discussion board 1. Post and 2. Two replies (See attached post)
1. In your text, Chapter Nine, Table 9-6, indicates a process that is necessary for strategic planning to be successful. In your opinion and based on the readings from the chapter, rank the top three. Identify the number and the topic and why they are important in this process. For example, you think number three is the most important.
Identify number three – the topic- and then explain the process. Use at least one outside source in supporting your answer.
Q:
In your text, Chapter Nine, Table 9-6, indicates a process that is necessary for strategic planning to be successful. In your opinion and based on the readings from the chapter, rank the top three. Identify the number and the topic and why they are important in this process. For example, you think number three is the most important.
Identify number three – the topic- and then explain the process. Use at least one outside source in supporting your answer.
A: After reviewing table 9-6, I believe the three most important guidelines for the strategic planning process to be effective are:
2. It should be a learning process for all managers and employees.
3. It should be words supported by numbers rather than numbers supported by words.
6. It should challenge the assumptions underlying the current corporate strategy (David et al., p.288, 2020).
The importance of strategic planning being a learning process for all managers and employees is due to the mindset people have when in a learning mode. When people are interested in learning, they are more open-minded, curious and inquisitive. I believe this fosters creativity and safety amongst those involved in the planning process when sharing their ideas. Creating a safe environment is key to strategic planning, as the group must have honest, open conversations about the most difficult issues facing the organization (Dye & Sibony, 2007).
In our data-driven world, having strong analytics (numbers) to support our ideas is imperative. The world of gut-calls and decisions that just “feel right” is gone. Our world is so full of rich data that if we can’t support our own ideas with the combination of quantitative and qualitative data, then we should strongly reconsider if it is an idea worth sharing.
Strategic planning is cyclical, which means it isn’t ever done. Each time a team restarts the strategic planning process they should be referencing their current and prior strategies to see if they still are relevant or if they have actually followed their strategy. Reviewing your current strategy after you have spent time pursuing it exposes the assumptions you had when you initially created the strategy.
References:
David, F. R., David, F. R., & David, M. E. (2020). Strategic management: Concepts and cases, a competitive advantage approach. Pearson.
Dye, R., & Sibony, O. (2007). How to improve strategic planning. McKinsey Quarterly, 3, 40.
Discussion Board Two
by
Roxanne Fransen
– Tuesday, 11 January 2022, 7:15 PM
When evaluating the necessary process for strategic planning to be successful I have noted the top three of the readings from the chapter below:
1. It should be a people process more than a paper process.
7. It should welcome bad news and provide a clear picture of what is happening.
16. Do not pursue too many strategies at once.
When it comes to strategic planning it is important to note how it will affect everyone involved and those who are involved should have a say since they will be the ones performing the daily tasks and duties (Vo, 2021). By having it be a people process more than a paper process, you will make the planning more human and people will be more likely to speak up and bring issues to the table since they know it won’t be bogged down with notes and paperwork as a result. Bad news should not be looked down upon. It is better to catch an error or flaw within the strategic planning process early on to avoid corrections that would possibly need to be made because someone didn’t speak up or because no one on the team was looking out for threats. And finally, only looking at one strategy at a time is key to ensuring success. One strategy at a time means that your organization will know what’s working and what is not and will be able to learn and adjust throughout the entire process.
References:
David, F. R., David, F. R., & David, M. E. (2020). Strategic management: Concepts and cases, a competitive advantage approach. Pearson.
Vo, E. (2021, November 16). What is strategic planning?: Strategic Planning Process: Small Biz Ahead. Small Biz Ahead Blog– Small Business Owners | Accounting | Digital Currency. Retrieved January 12, 2022, from https://sba.thehartford.com/business-management/what-is-strategic-planning/
Permalink
|
Reply
Re: Discussion Board Two
by
Steven Tidwell
– Tuesday, 1 February 2022, 3:43 PM
Good point!
I agree!
It should be a people process and not a paper process! You made some good points in the post. As you referred to, strategy may look good on paper, but if people are not involved in the process, it is a useless. People are an organization’s greatest assets. I think some times organizations gets so wrapped up in its strategic plans that they don’t consider who is going to carry it out. Then, when it comes time to implement the plan, they may not place the right people in the right position. Having knowledge of employees’ strengths is important when it comes to strategy and the implementation process. Well done!
Permalink
|
Show parent
|
Reply
