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Adjusting Your Strategic Plan to New Realities
Once you have a strategic plan in place, how do you actually implement it?
Moving an organization within the scope of its strategic plan would be much easier if the status quo remained the status quo. Leaders must be able to account for new realities and adjust the strategic direction of the organization accordingly. In this Building Master Executives lesson, David Woods, a leader with GiANT Partners, goes into detail about making sure a strategic plan is implemented once it's created, even in the face of change:
A skill that master executives have is the skill of actually being able to move the organization forward after the plan has been created. After you’ve created the strategic plan, new realities begin to creep in.
Now, new reality could be a better idea than when we came up with this plan, or a new law that’s been put in place. The market changes, your competitors change. The more new realities there are, the less likely you are to actually implement the plan.
Studies show that only about 10% of companies that actually have a strategic plan ever implement the plan.
Also, often a CEO or owner sees some of those new realities and decides to completely re-launch the strategic planning process.
Has that ever happened to you? How did you respond to a change in the organizational planning process instituted from the top down?
A better plan is to actually teach everyone within the organization how to think on the fly, and teach them how to adjust the plan so that stress doesn’t land on management, CEOs or owners.
How do we do that? Make sure the entire organization understands the focus of the organization. Also, make sure you have the tool of empowerment in your organization.
It really serves no purpose to have an entire organization that understands your focus, yet they have not been empowered to be able to make decisions on the fly.
Now you’ve got an organization that will make changes on the fly. They will follow the new strategic plan vision, allowing you, as a leader, more capacity to actually serve the organization instead of being the one driving the organization.
GiANT Partners grows organizations by growing the executives who lead them. The company is founded by a group of CEOs who have been there... developing leaders into master executives. They focus on strategic planning, strategic vision implementation and executive coaching. GiANT Partners believes that servant leadership doesn't just come from knowing that you need to serve; it also comes from having the skills and time capacity to do so.
Now, new reality could be anything, a new reality could be, you know what, I just have a better idea than I had last when we came up with this strategic plan. Or a new reality could be a new law that's been put in place. A new reality could be the market changes, your competitors change, your customers change. Those new realities all added together begin to take that strategic plan away from those new realities. The wider that that gap gets, the less likely you are to actually implement the plan.
In fact, studies show that only about 10% of companies that actually have a strategic plan ever implement the plan. The main reason, that gap got so wide between those new realities and the plan that eventually people said that plan makes no sense anymore. So the plan goes in the drawer and nobody ever looks at it again.
Now coupled with that, you've got, a lot of times, a CEO, an owner, a management team at the top of the organization, they actually begin to see some of those new realities, and what they begin to try to do is they realize, "Wow, we need to take our strategic plan and begin pulling it over." That is a big monkey for that group to wear on their shoulders. So there is a lot of stress trying to pull the organization over to those new realities.
A better plan is to actually teach the organization how to think on its own, how to think on the fly, as those new realities begin to enter the marketplace and teach them how do they adjust the plan on the fly so that that stress and that monkey doesn't land on management, CEOs, owners, those kind of things. Thereby increasing management's capacity to serve the organization instead of being the ones driving and pulling the organization over to those new realities.
So in closing, the question becomes, how do we do that? Number one, you've got to make sure the entire organization understands the focus of the organization. In other videos under the master executive category, we've talked about things like filtering. That's one way to make sure the whole organization understands that focus so that they too can change on the fly, yet stay aligned with the focus of the organization.
The second tool that you want to have in your organization is the tool of empowerment. It really serves no purpose to have an entire organization that understands your focus, yet they have not been empowered to be able to make decisions on the fly. So once you learn that ability to empower the organization, create focus up and down throughout the organization, now you've got an organization that will make changes on the fly. They will map and move allowing you, as a leader, more capacity to actually serve the organization instead of being the one driving the organization.
GiANT Partners grows organizations by growing the executives who lead them. They grow hearts. They grow minds. They grow executive skills. They grow the significance that comes when everyone is on the same page.
They're a grou...
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