Strategic Planning In The Private Sector
Essentially strategic planning is a structured creative thinking process about the way in which an organisation will take advantage of or create current and future market opportunities. The process results in a Strategic Plan.
Accountability to ensure that this happens rests with the Board of Directors in most modern organisations.
Strategy is different from operations and is not simply continuous improvement on what we have done before. In its most compelling form strategy is “going boldly where none have gone before”, creating the opportunity for an organisation to think new thoughts, forge new directions and blaze new trails within their industry. In essence this means answering the question “What are we doing that our competitors are not doing and cannot easily replicate?”
However, we can only go boldly where no-one has gone before when we know where everyone has been before and currently is. This requires thorough industry and competitor analysis. Nonetheless, it is vital to appreciate that strategy does not magically appear after industry analysis is completed! Hard creative work is required!
Strategy is the result of intensive creative effort based on a sound knowledge of the current context. It is about making sure that the right people at the appropriate levels in the company apply their minds within a managed process to achieve a creative compelling, market relevant strategic plan.
Finally, a strategic plan is not a static document, it rather a point of reference in a dynamic process and requires ongoing consideration and revision.
Strategic Planning In The Public Sector
StratAlign’s Approach to Strategic Planning and Annual Performance Planning (APP) in the Public Sector
It is critical that Strategic Planning in the Public Service be regarded as more than just a compliance issue. It is an opportunity for stakeholders in an organisation to reflect on their organisation, its goals and practices, and review and refine such practices to better serve their constituencies. Consequently, StratAlign has developed an approach to strategic planning and APP’s which is outlined below.