Use these simple resources to help your team level-up your strategy planning, innovation processes, and profitability.
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A new, weekly series of videos about strategy best practices and how to quickly start and structure your organization's strategy planning process.
It's often hard to know how effective a strategy is until years later. In this video, we give an overview of the key elements of "good strategy", focusing on 3 categories: being outcome-oriented, being holistic, and being buy-in driven.
Strategy planning is often vaguely defined and even more vaguely followed. In this video, we'll explore the 6 steps for strategy planning that organizations must follow, implicitly or explicitly.
In this video, we explore the first step in successful Strategy Planning: defining outcomes. These outcomes are why we do "strategy" in the first place. Outcomes must match the needs of shareholders, owners and/or the board, and must adhere not to a strict timeline, but a rough time horizon.
In this video, we explore the second step in successful Strategy Planning: research and diagnosis. This research must cover opportunities and challenges both internal and external to the organization. A simplistic example is a "Strengths, Weaknesses, Opportunities, Threats" analysis - aka SWOT.
In this video, we explore the third step in successful Strategy Planning: ideating strategic opportunities. Ideation must be separated from prioritization or selection of opportunities. The ideation step is creative and unrestrained - the purpose is to cast the net wide and uncover potential ways to achieve the Outcomes.
In this video, we explore the fourth step in successful Strategy Planning: prioritizing ideas for strategic opportunities. Each idea should be scored, for instance by Impact versus Feasibility, to give a sense of which ideas are the highest return-on-investment.
In this video, we explore the fifth step in successful Strategy Planning: vetting and approving the prioritized strategy. Buy-in is critical for an effective strategic plan. A Strategic Statement can help provide a succinct soundbite for getting buy-in and approval.
Often, strategy plans are intellectual exercises. In this video, we explore the final step in successful Strategy Planning: accountable execution.
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