Strategic planning is a business process that many companies employ to identify their critical success factors that set the course for future growth and profits. Lewis Carroll in “Alice in Wonderland” makes a good case for it: “Would you tell me, please, which way I ought to go from here?” said Alice. “That depends a good deal on where you want to get to,” said the Cat. “I don’t much care where…,” said Alice. “Then it doesn’t matter which way you go,” said the Cat.
Like most business processes, the key to success is in the effective implementation of the plan. Companies that do a good job of developing and executing their strategies can create a competitive edge that provides increased market share and higher gross profit margins. Organizations that turn their plan into a “dust collector” upon an executive bookshelf will never achieve their full growth and profit potential.
Most criticism of strategic planning is aimed at the planning process. They question the validity of a plan that has been based on market “guestimates”, the questionable valuation of the depth and breadth of competitors and an optimistic assessment of the company’s internal strength and weakness.
The fact that strategic plans can be overly optimistic is not the core problem. Although the criticism may be appropriate, it puts the focus for improvement on the wrong end of the process – it’s the implementation task that is critical to producing positive results and it’s here where most companies fail at strategic planning.
Rational strategic plans poorly implemented will produce limited positive results. On the other hand, overly optimistic strategic plans, effectively implemented can produce results beyond everyone’s expectations. This being the case, what is the key to effective implementation? In one word – commitment!
Companies that are good at strategic planning build commitment to the planning process and each of the strategies within the plan. They build commitment throughout the organization, working with people from all business functions to build commitment before, during, and after the development of their strategic plan.
The Invesca is a firm that, provide fantastic and effective strategic planning services. Christopher longsworth is the founder of invesca. He has made invesca one of the best firm which already has achieved fam on strategic