It is so easy to get lost in operational tactics of running a business. Yet, time and time again, the companies that differentiate themselves are the ones that invest time and energy in strategic planning.
Strategic plans should be looking out over the horizon. They need to provide a vision for where the organization intends to go, yet developed in such a way to ensure that they are implementable. Lodestone Logic believes that the process for creating a strategic plan is just as important as the production of the final product.
Lodestone Logic’s immersive strategic planning process involves the engagement of key internal stakeholders that have experiences, knowledge and insights about the business. These stakeholders also have organizational influence and their advocacy and support is required for the strategic plan to be successfully implemented. The strategic plan process also facilitates the collection and integration of both internal and external inputs. The primary goal is to surface the right information to ensure that our clients are making informed decisions about their future and strategic opportunities while mitigating potential risks.
A strategic plan engagement with Lodestone Logic may include all of the following elements:
- Internal and external benchmarking for best practices, methods, and approaches
- Stakeholder mapping and analysis
- Facilitated working sessions with pre-work and in-session strategic plan development
- Articulation of organizational strengths, weaknesses, opportunities, and threats
- Identification of strategic priorities, writing/editing of the organization’s vision and mission, and development of specific plans of action
- Development of an organizational view into the entire portfolio
- Facilitation of discussions that for prioritization of work streams and projects and re-alignment of capital, resources, and organizational structure
- Development of top level qualitative and quantitative scorecard to track progress of the strategic plan
- Wisdom of the Crowds – Wisdom of the crowds methods and technologies allow organizations to tap the minds, thoughts, and perspectives of a broader set of employees and customers.
By involving more perspectives into the strategic planning process, these methods improve inputs, signaling of the data, and insights regarding the probabilities of success, opportunities, and threats associated with the execution of the strategic plan. With the focus on producing data and information to drive for knowledgeable decision-making, Lodestone Logic’s methods help organizations prioritize and focus and mitigate potential risks.
The creation of a strategic plan is not the end of the process. Relevant and actionable strategic plans are navigational tools that organizations should reference, use, and iterate over time to deliver on their mission, vision, and targeted measures.