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Strategic Planning New Approaches for the Era of Rapid Change |
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By: Vadim Kotelnikov
Founder, Ten3 Business e-Coach – Inspiration and Innovation Unlimited!
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"You can never plan the future by the past." – Edmund Burke |
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Two Integral Parts of a Strategic Plan
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The problem with most strategic plans is that they are long on "what to do" and short on the "how to do it". There is little value in such plans. If any plan lands on your desk without the "How to do it," send it back.4
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New Purpose of Strategic Planning in the Era of Rapid Changes
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New Goals for Strategic Planning
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Areas of Applications
Comprehensive strategic planning and
strategic programming is
more closely linked to firm performance in stable industries than in
unstable industries.
Dynamic organizations such as start-ups, new business ventures, and opportunity-driven businesses need a more flexible approach to business management. New Approaches to Strategy Formulation The currently dominant view of strategy is the resource-based theory. Traditional strategy models, such as Michael Porter's five forces model, focus on the company's external competitive environment. Most of them do not attempt to look inside the company. In contrast, the resource-based perspective highlights the need for a fit between the external market context in which a company operates and its internal capabilities. According to this view, a company's competitive advantage derives from its ability to assemble and exploit an appropriate combination of resources. Sustainable competitive advantage is achieved by continuously developing existing and creating new resources and capabilities in response to rapidly changing market conditions. New Goals for Strategic Planning In the new business environment of rapid changes, heightened risk and uncertainty, developing effective strategies is critical. They prepare executives to face the strategic uncertainties ahead and serve as the focal point for creative thinking about a company's vision and direction. Many companies get little value from their annual strategic-planning process however. To meet the new challenges, this process should be redesigned to support real-time strategy making and to encourage 'creative accidents'1.
The Art of War: Planning
By: Sun Tzu
You can fight a war for a long time or you
can make your nation strong. You can't do both.
When you are close to the enemy, you appear
distant.
Your will find a place where you can win. Don't pass it by...
SWOT Analysis: Questions To Answer
Top 10 Essential Requirements To Be
A Great Strategic Thinker Essential Element #4: You must have an extremely high level of awareness of what is happening around you and be open to absorbing all that you can. In any business, there are clues, often subtle, both internal and external to help guide future direction and to identify opportunities. Great strategic thinkers take all of this in and then they set aside time to think about all the experience and information to guide them in the planning and working on the issues, challenges and opportunities that lie ahead... More The Starting Point A key starting point of strategic planning is the acceptance of the counterintuitive notion that this planning process should not be designed to make strategy. Real creative strategies are rarely made during formal paneled discussions, they "are more likely to be cooked up informally and often in real-time – in hallway conversations, casual working groups, or quiet moments of reflection on long airplane flights."1 Preparing Minds A successful strategy process would help your company to react quicker to emerging opportunities and make faster decisions than your competitors do. It would ensure that your executives have a strong grasp of the strategic context they operate in before the unpredictable but inevitable twists and turns of your business push them to make critical decisions in real time.1
Blue Ocean Strategy: 6 Principles Blue Ocean Strategy is about revolutionary value innovation. The six principles drive the successful formulation and execution of Blue Ocean Strategy. These principles attenuate the six risks... More
Operational Plan: "We don’t have a traditional strategy process, planning process like you’d find in traditional technical companies. It allows Google to innovate very, very quickly, which I think is a real strength of the company." – Eric Schmidt... More
12 Essential Elements of Strategic Planning... Increasing the Innovativeness of Your Company Strategies... The Importance of Values and Mission... The Keys to Designing Effective Strategy Conversation... Strategy Management... Strategic Programming... New Systemic Approach to Strategic Management... Analysis of the Business Environment... Business Portfolio Analysis... Milestone-based Thinking... Strategic Innovation: Road-Mapping...
Strategic Learning...
Dynamic Strategy as a Source of
Sustainable Competitive Advantage...
Case in Point
Personal Strategic Planning...
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