Introduction to strategic planning series Over the next few articles, we will describe the “what”, “why”, “when”, “who” and “how” of strategic planning. Strategic planning, our core offering, refers to the ongoing process of developing the direction and scope of…
Six ‘whys’ of strategic planning In our previous post, we introduced our strategic planning series and answered the “what” of strategic planning. This post outlines 6 key reasons why strategic planning is critical to any organisation. Watch out for future…
Why #1 of strategic planning Over the past year, the COVID-19 pandemic changed our world in ways we did not anticipate: restriction of movement, economic recession, exponential adoption of technology, increased diversification of supply chains. Strategic planning provides opportunities for…
Why #2 of strategic planning Organisations that outshine their peers retain their positions of leadership by identifying and leveraging what makes them unique. This could include world-changing product inventions, best-in-class teams, brand recognition and cost leadership. Sources of competitive…
Why #3 of strategic planning This HBR article When CEOs Talk Strategy, Is Anyone Listening? (hbr.org) found that only 29% of employees at high-performing corporations understood their strategy. For the Nigerian market, you can assume that a small fraction of…
Why #4 of strategic planning Clearly documenting and communicating your strategic plan will boost employee buy-in for your strategic plan, particularly when employees have been included in the strategic planning process. Employees are motivated to serve with a greater…
Why #5 of strategic planning Without a strategic plan, most organisations allocate their resources in a bias-prone, short-sighted, or reactive manner which diminishes the value the organisation can create. When an organisation’s resources are allocated proportionately to its strategic priorities,…
Why #6 of strategic planning This week, we present our sixth and final reason why strategic planning is important: it gives a basis to track the progress of the organisation. Beyond identifying measurable goals, strategic planning equips organisations with simple…
When does an organisation need a strategic plan? Reflecting on our prior articles on six compelling reasons for strategic planning, you may be wondering, ‘When does my organisation need a strategic plan?’ Many organisations develop business plans at the start…
Who should strategic planning involve? Strategic planning is often associated with leaders of organisations alone. However, this should not be the case. To increase the likelihood of success of the strategic plan, organisations should meaningfully engage with a range of…
How is strategic planning done? Over the past few articles, we have shared what strategic planning is, why it is important and who should be involved in the process. In today’s post, we address the burning question: “how is strategic…
Common mistakes organisations make when developing their strategic plans Many organisations repeat the same mistakes when developing their strategic plans, irrespective of their industry or size. Here are common mistakes which hinder the effectiveness of such plans, to ensure that…
Why Impact Partners should support you in developing your strategic plan At Impact Partners, we believe that strategic planning should be a top priority for every organisation. We have witnessed significant improvements in our clients’ organisations as a result of…
What happens after you develop your strategic plan? At the end of your strategic planning process, your organisation has outlined its primary mid- to long-term goals and the short-term initiatives to achieve these goals. Success measures have also been identified…