Is strategic planning now any different that it was before? Yes and no. It is different in the sense that so much has changed recently. What hasn’t changed is the value the process brings. Whether you are in Cincinnati or anywhere in America, look to your strategic plan for guidance in these turbulent times.
I’ve written and facilitated over 400 strategic planning sessions. It’s a process that has helped my customers grow and succeed. This includes all types of business climates over the last few decades.
No, the coronavirus was not a topic of discussion at my strategic planning meetings prior to February. But STEEP was.
STEEP is an acronym that helps us think about all of the potential changes that could impact the organization. It stands for:
What social changes could impact our business? Are there technological changes do we need to consider? What environmental changes, economic changes and political changes do we need to factor in?
Strategic planning is the time when key executives step back and think big. They look at things from a different perspective. Ask a lot of “what if” questions. Listen to different voices to make sure they are factoring in everything that’s important.
The coronavirus crosses over several areas. Most significantly, it’s an environmental, economic, political and social threat that is causing significant disruptions to business as usual.
The value of good risk management and business continuity are self-evident today. The smartest organizations prepared for disruptions. They had “work from home” plans and technology in place. Policies were ready to deal with workplace illness and other contingencies.
No one has a crystal ball. The unexpected can happen. And it just did. What we can do is plan. Go through the process of creating a strategic plan. And then go through the discipline of executing it. When situations change, sense that quickly and respond appropriately. This applies equally to companies in Cincinnati, Columbus, Indianapolis, Dayton, Louisville and all over America. If you are ready to improve your strategic planning now, please give me a call. Together, we’ll get less of what you don’t want and more of what you want to achieve.