Strategic Planning

Posted by on Oct 28, 2015

business lunch meetingAs another year draws to a close, planning for the new year and beyond is in full swing. Though strategic planning should be woven into the day to day functioning of your company, it is helpful to take stock of your current reality and “right the ship” for the new year ahead.  And more importantly, it is time to be innovative and creative as you chart your course for future success.

Meeting with your senior executive team and then your board of directors is a great way to plan your course.  The following elements in your planning sessions are sure to bring valued results:

  1. Assess your current business state.  What is going well?  What needs improvement?  What needs to be stopped?
  2. What does our most successful future look like?  What are we doing?  Who is part of our company? What is our financial return?  How do we stay true to our vision and mission?
  3. Map out a high level strategy (objectives and goals) to achieve the future state.  What services and products are we going to continue?  What are we stopping?  When?  What are we adding and when?
  4. Set your operational plan with specific assignments and due dates.
  5. Develop and implement a monitoring tool (dashboard) to measure your progress against your plan.

Strategic planning is hard work!  And it demands concentrated, uninterrupted time with your executive team and board.  Going offsite to plan is a great way to create an environment free of distraction.  The Fern of Westfield is host to many non-profit and corporate executive and board planning retreats.