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StrategyDriven Podcast Episode 26 – Introduction to Strategic Planning
StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag posts on the StrategyDriven website.
Episode 26 – Introduction to Strategic Planning serves as a foundation for the upcoming series of podcasts focused on the best practices and warning flags associated with strategic planning. This discussion…
- defines what strategic planning is
- describes the component activities supporting this business planning process
- identifies the benefits of strategic planning and how it helps an organization become more strategy driven
Final Request…
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Organizational silos act as barriers; hindering the performance of business units, work groups, and individuals as they strive to achieve the organization’s shared goals. Nowhere in the organization are silos more destructive than if they exist within the executive team. Here, silos prevent the free flow of information and resources needed to successfully execute cross-functional initiatives with the barriers to collaboration cascading downward though the entire organization. To help prevent these silos from forming, all strategic plan goals must be shared equally by all executives.
An organization’s mission statement defines its purpose, its reason for being. These statements, however, tend to be broad and somewhat vague; making it difficult to identify the specific products, services, initiatives, and people that will most directly enable the organization to achieve its purpose.
A company’s true value is largely determined by its long-term performance potential as shaped by management’s decisions made today. These decisions guide the translation of the company’s mission, its purpose for existing, into the products and services it provides and hopefully the market wants.
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