Your Strategic Plans Probably Aren’t Strategic, or Even Plans

Harvard Business

It happens all the time: A group of managers get together at a resort for two days to hammer out a “strategic plan.” But have they produced a plan with a strategy? At the start of my public seminars on strategic planning I ask attendees, who rank from board members and CEOs to middle management, to write down an example of a strategy on a sheet of paper. ” (I see this frequently in published strategic plans as well.)

How to Manage Your Individual Finances Efficiently

Strategy Driven

This article is all about managing those finances efficiently. Some individuals feel that they’re not extremely well trained in the world of finance and money management. The internet is an incredible resource for anyone looking to find expert advice, for free, on how to operate more efficiently in the world of finance. Finances are sometimes impenetrable and difficult to manage. Practices for Professionals business management Personal Finance strategydriven

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The Benefits of a Business Plan Service

Strategy Driven

Not every business has a business plan, not because they don’t need one but because they don’t have the skills or knowledge to create it. That’s where a business plan service can help, these services offer a professional solution to business planning, so you get it right first time.

The Disconnect that Keeps Your Company from Performing at its Peak

Strategy Driven

I have noticed that their story consistently repeats itself: their organizations are underperforming, and they want to discuss ways to optimize, share ideas and collaborate on experience that could help set up a plan to turn that situation around. The Disconnect puts the sales team outside of the strategic conversation. Typically, Finance, Marketing, and Operations all have input, direct or indirect, on the creation and revision of the strategic plan.

Disney+, Notre Dame Donations Spark a Backlash, and Mihir’s New Book!

Harvard Business

They then do a bonus segment about Mihir’s new book, “How Finance Works.” ” Technology Strategic planning Economics & Society Finance & Accounting AudioYoungme, Felix, and Mihir discuss the upcoming launch of Disney’s new streaming service (Disney+), as well as the backlash sparked by billionaires pledging money to repair Notre Dame Cathedral.

What if the people engaged in planning are wrong about what needs to be done?

Mike Cardus

In 4 Strategic Planning Co-creation Steps & Benefits by Alan Kay, he responded to a common objection in using co-creation ( working with a team or people who will be impacted) to develop plans. They may be wrong, but no more so than the planning experts. Share company struggles, successes and finances. Please share the finances in a manner that is easy to understand. Develop broad buckets that the co-created plan will fit in.

How To Create An Effective Business Strategy

Strategy Driven

It is an action plan that details the concrete steps needed to attain your goals—usually covering the coming year—a timetable for each task, a description of who will do what, and a follow-up process. You’ll get the most team support on the trajectory of the business if as many employees as possible are involved in creating the action plan. Strategic Objectives. Tactical Plans. Now you need to translate your strategic objectives into more detailed short-term plans.

The Big Picture of Business – Business Success Checklist

Strategy Driven

Plan for the future. When your business has contingency plans for future scenarios you will seldom be caught by surprise. Most successful businesses have planned responses to most scenarios because they took the time to think “What If”. Plans are in writing to address inventories and reducing surplus. Legal compliance and precautions plan is annually updated, with measurable goals. Purchasing plan (with processes and vendor lists) is in writing.

Can You Really Turn a Hobby into a Business? part 2 of 3

Strategy Driven

Finance, administration, inventory – these are all things most small businesses owners do not go into business to learn how to do. The good news is that anyone in marketing, finance commercial management, product management, or your bookkeeper can help you. Strategic Planning business management marketing and sales Nick Goode strategydriven turning a hobby into a businessBusiness Is Both Fun and Dull All The Time.

How to make a business plan and actually stick to it

Strategy Driven

Whether you are a long-term small business owner or just starting in a complex market, then there’s no time like the present to start penning your latest business plan. However, writing a plan and sticking to it are two very different elements. From generating more sales, to getting those ideas off the ground, read on to find out why you should be making a business plan, and more importantly, how simple it is to stick to it. Get your finances in order.

Leadership Efficiency Error

CO2

Strong enough so that each employee in marketing, operations, finance, customer service, and research all understand what the guiding light is for the organization. Business Exceptional Leadership Executive Coaching Just Ask Leadership Leadership Strategic Planning Team workWhat are the costs of “efficiency”? Mission vs. Efficiency. Leadership Efficiency can be costly to the sustainability of an organization. Efficiency is addictive.

What are the costs of “efficiency”?

CO2

Strong enough so that each employee in marketing, operations, finance, customer service, and research all understand what the guiding light is for the organization. Business Exceptional Leadership Executive Coaching Just Ask Leadership Leadership Strategic Planning Team workMission vs. Efficiency. Efficiency is addictive.

Green Your Business: A Sustainable Vision or Money-Making Fad?

Strategy Driven

It’s healthy for the community, the employees, and your company’s finances at the same time, and seems almost too good to be true. Strategic Planning business strategy strategydriven sustainabilityTo be an environmentally-friendly business seems to be the way to go, lately.

PR 50

Is Your Business a Commodity or a Resource?

Strategy Driven

In this manner, you become a strategic resource, to everyone’s benefit. Sutton’s bestselling books include: Start Your Own Corporation , Loopholes of Real Estate , and Finance Your Own Business. Strategic Planning business leadership business management Garrett Sutton strategydrivenHow are your services and the people providing them viewed by your clients? Are you a commodity readily available anywhere?

7 Pitfalls to Avoid When Running a Family Business

Strategy Driven

HAVING ‘ZERO TOLERANCE’ REGARDING PERSONAL VS. BUSINESS FINANCES. NOT HAVING A CONFLICT RESOLUTION PLAN. Taking the time to consider those scenarios that can cause dissention among family members who work together and plan out some precautionary measures, you will be well on your way to building stronger relationships with loved ones and perhaps a lasting family business legacy for generations to come.

Strategizing for Success: Keys for Planning Annual Sales & Marketing Goals, part 1 of 2

Strategy Driven

Each fourth quarter as the New Year approaches, it’s prudent to prepare a profitability plan for the coming year, especially with respect to your sales and marketing endeavors. Doing so can give you a notable competitive edge, particularly given the extraordinary number of professionals that don’t bother producing this strategic tool. Here’s how to set yourself up for annual planning success. Successful annual planning requires one key ingredient: your mindset.

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Complimentary Resource – Economist: Smart SMBs Fine-Tuning the Engines of Growth

Strategy Driven

Meanwhile, small and medium-sized businesses (SMBs) from around the world find regulation to be a top business concern, on a par with shortages of financing and behind only the weak economy, according to a survey conducted by the EIU for this paper. Complimentary Resource – Strategic Vision & Scrum: Looking Beyond The Next Sprint. Complimentary Resources business management economist Strategic Planning strategydriven Symantec

The Big Picture of Business: Been There, Done That

Strategy Driven

An accounting firm may suggest that an economic forecast is a full-scope business plan (which it is not). For project purchases, such as printing, graphic production, video production and materials creation, consultants customarily mark up slightly, to cover bank financing and handling costs. He guides companies through growth strategies, visioning, strategic planning, executive leadership development, Futurism and Big Picture issues which profoundly affect the business climate.

The Big Picture of Business – The Book of Acronyms

Strategy Driven

Going ‘outside the box’ to shift perceptions enables any company to think, plan and operate in productive new ways. He guides companies through growth strategies, visioning, strategic planning, executive leadership development, Futurism and Big Picture issues which profoundly affect the business climate. Organizations are accustomed to looking at concepts and practices one way at a time.

Your Strategy Won’t Work If You Don’t Identify the New Capabilities You Need

Harvard Business

While strategic plans identify what your organization should do differently, very few provide a roadmap for how to build the skills, knowledge, and processes needed to carry out and sustain the critical changes. These changes meant that hundreds of people in the company had to work differently in some way – but the plan said nothing about developing capabilities. But strategic plans often get this simple equation wrong, for one of two reasons.

The Financial Industry Needs to Start Planning for the Next 50 Years, Not the Next Five

Harvard Business

The current innovation model in the finance sector is designed to generate the highest possible short-term returns. Taking a long-term view — planning for a viable business in the next decade, rather than the most profitable one in the next quarter — is the only way forward for financial services businesses. Growth strategy Strategic planning Technology Financial Services Digital Article

3 Ways to Get More Value from Automation - SPONSOR CONTENT FROM PWC’s Strategy&

Harvard Business

Recently, a financial services organization found $5 million in opportunities to optimize its finance processes. Without a way to break down this task, you’re likely to do one of two things: take on a scope that’s so large it leads to missteps and frustration, or take on a scope that’s not tied to transformation, looking only at rules-based tasks that aren’t linked to strategic aims. Strategic planning Sponsor Content

Is Your Business Sinking? 12 Holes You Need To Plug

Strategy Driven

Review your finances. Failure to arrange promotional campaigns strategically is a money-leaking tactic. Modern digital tools help business managers, freelancers, and even homeowners organize their finances effectively. Reshape your fiscal plan.

You Don’t Need an “India Strategy” — You Need a Strategy for Each State in India

Harvard Business

Aside from understanding how India’s states differ, companies must also create a well-thought-out plan for allocating resources across states. Companies should measure the operating environment of each state by analyzing indicators related to infrastructure, talent, finance, and the business and tax environment. Emerging markets International business Strategic planning Risk management South Asia Digital ArticleLinda Coussement/eyeem/Getty Images.

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Want To Create SMART Objectives? Here’s How

Strategy Driven

For example: In the Finance Department, an objective could be to cut spending and improve profit margins. By asking for feedback and uncovering the impact that different changes have on your business, you’ll be able to plan your next steps.

SWOT 13

The Right Way to Use Analytics Isn’t for Planning

Harvard Business

Pharmaceutical companies spend millions upon millions preparing meticulous plans for new drug launches – and yet their route-to-market strategies haven’t changed in decades, even though the reality of the market has. We must start to think differently about how business, management, and strategic intelligence works. What companies today need isn’t meticulous plans, but to constantly reassess the business and its markets and competitors.

Why Sit on All that Cash? Firms Uncertain on Cost of Capital

Harvard Business Review

This is the key finding of the Current Trends in Estimating and Applying the Cost of Capital research released this week by the Association for Financial Professionals, a trade group of 16,000 corporate treasury and finance practitioners. AFP conducted the Cost of Capital Survey in October 2010 and received answers from 309 chief financial officers, treasurers, vice presidents-finance, and assistant treasurers. Budgeting Finance Strategic planning CAPM

Still Many Ways to Skin a Capital Cost

Harvard Business Review

As the treasury manager in Verizon's corporate finance department, he saw the research as an opportunity to gain valuable benchmarking information about how the CAPM is currently being used by his fellow practitioners. Finance Strategic planning CAPMWhen executives evaluate a potential investment, whether it's to build a new plant, enter a new market, or acquire a company, they weigh its cost against the future cash flows they expect will spring from it.

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Using SWOT During Times of Economic Uncertainty

Six Disciplines

SWOT is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in your business. The factors may include all of the 4Ps (product, price, place, promotion) as well as personnel, finance, manufacturing capabilities, and so on. Tough times require tough decisions. During times of economic uncertainty, strategy refinement and execution need to become the top priority for business leaders. How to start?

SWOT 85

Using SWOT During Times of Economic Uncertainty

Six Disciplines

SWOT is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in your business. The factors may include all of the 4Ps (product, price, place, promotion) as well as personnel, finance, manufacturing capabilities, and so on. Tough times require tough decisions. During times of economic uncertainty, strategy refinement and execution need to become the top priority for business leaders. How to start?

SWOT 87

Don't Let Strategy Become Planning

Harvard Business Review

I must have heard the words "we need to create a strategic plan" at least an order of magnitude more times than I have heard "we need to create a strategy." This is because most people see strategy as an exercise in producing a planning document. That is, each different initiative is a strategy and the plan is an organized list of the strategies. But how does a strategic plan of this sort differ from a budget? Such a strategy actually makes planning easy.

Your Company’s Purpose Is Not Its Vision, Mission, or Values

Harvard Business Review

For example: “We’re in the business of providing high-standard assistance on performance assessment to middle to senior managers in medium-to-large firms in the finance industry.”. Motivation Strategic planning We hear more and more that organizations must have a compelling “purpose” — but what does that mean? Aren’t there already a host of labels out there that describe organizational direction? Do we need yet another?

Using Analytics to Predict Hollywood Blockbusters

Harvard Business Review

The resulting spike in both supply and demand for movies has created fierce competition for financing. To effectively leverage historical data, it is vital to look at the past performance of a large volume of films as the basis for revenue forecasts and in the development of any forward-looking financial plans for a particular film. Marketing Strategic planning Technology

Film 12

Using Analytics to Predict Hollywood Blockbusters

Harvard Business Review

The resulting spike in both supply and demand for movies has created fierce competition for financing. To effectively leverage historical data, it is vital to look at the past performance of a large volume of films as the basis for revenue forecasts and in the development of any forward-looking financial plans for a particular film. Marketing Strategic planning Technology

Film 12

Jim Collins, Meet Michael Porter

Harvard Business Review

There are the "soft" subjects like leadership and organizational behavior, and the "hard" ones like finance, accounting, and operations. Leadership Strategic planning StrategyI've just finished reading Jim Collins' latest book, Great By Choice (which he co-authored with Morten Hansen). Collins is a smart observer and a gifted writer. It's hard to put down a Collins book feeling anything but.well, inspired. He's the coach or the Dad you always wanted. You can do it, he says.

Using SWOT During Times of Economic Uncertainty

Six Disciplines

SWOT is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in your business. The factors may include all of the 4Ps (product, price, place, promotion) as well as personnel, finance, manufacturing capabilities, and so on. Tough times require tough decisions. During times of economic uncertainty, strategy refinement and execution need to become a top priority for business leaders. Where to start?

SWOT 92

The Five Most Valuable Leadership Skills

Lead Change Blog

A leader is essentially a supreme organizer , the one who takes care of all aspects of a task and is able to make plans in advance. Organization is also a deciding factor behind our ability to handle practical tasks in our day-to-day functioning and is directly related to time management, finances and planning. The ultimate success of both our private and business initiatives lies in our ability to organize and plan in advance.

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Using SWOT During Times of Economic Uncertainty

Six Disciplines

SWOT is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in your business. The factors may include all of the 4Ps (product, price, place, promotion) as well as personnel, finance, manufacturing capabilities, and so on. Tough times require tough decisions. During times of economic uncertainty, strategy refinement and execution need to become a top priority for business leaders. Where to start?

SWOT 89

The Top Challenges of Small Businesses

Six Disciplines

Small businesses usually don’t have large cash reserves, dedicated research departments, fully-staffed IT functions, strategic planning functions, etc., It’s one thing to get good at something when you can hone your skills through repetition; it’s a completely different challenge to get good and stay good when the rules of the game keep changing with regard to competition, customer expectations, globalization, people issues, finance, technology, etc.

Using SWOT Regularly Ensures Focus, Flexibility, Innovation

Six Disciplines

SWOT is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in your business. The factors may include all of the 4Ps (product, price, place, promotion) as well as personnel, finance, manufacturing capabilities, and so on. Tough times require tough decisions. During times of economic uncertainty, strategy refinement and execution need to become a top priority for business leaders.

SWOT 75

The Top Challenges of Small Businesses

Six Disciplines

Small businesses usually don’t have large cash reserves, dedicated research departments, fully-staffed IT functions, strategic planning functions, etc., It’s one thing to get good at something when you can hone your skills through repetition; it’s a completely different challenge to get good and stay good when the rules of the game keep changing with regard to competition, customer expectations, globalization, people issues, finance, technology, etc.

Finding Strategy Jobs in London

Strategy Driven

As you may know, a career in strategy or strategic planning implies you helping a corporation design their road to profitability and growth while overcoming competition and constant change. For example, a certain job vacancy may require you to know some programming languages, while another one may require experience in operations and financial planning. At the moment, some of the top sectors that are actively looking for strategists are: Finance.

Contingency Planning | N2Growth Blog

N2Growth Blog

While this is understandable, it is nonetheless naive, and it constitutes a major flaw in the business logic of most strategic plans. This is so much the case that the most often overlooked aspect of strategic planning is adequately addressing contingencies as part of the planning process. Smart leaders view obstacles as a constant rather than a variable, and incorporate that thinking into their planning.