Strategy Planning in 6 Steps

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:

  1. Define outcomes
  2. Research & diagnose
  3. Ideate opportunities
  4. Prioritize opportunities
  5. Vet & approve
  6. Execute

Presented by Kut Akdogan, Partner at Gaussian Holdings.

Click here for the next video in this series.

Strategy planning introduction: summary of video

Leaders all agree that strategy is critical to success, but are sometimes unclear on the definition of a strategy or what it takes to make one.

In this video we'll outline how across all the definitions from management consultancies, academia and business journals, strategy is defined. What's critical in that definition?

  1. Outcomes
  2. Maximization
  3. Planning
  4. Communication

For more information on the hallmarks of a successful strategy, see our video Elements of Good Strategy.

Any process to put together a strategy must inevitably follow six steps, often in the following order.

  1. Defining outcomes 
  2. Research and diagnosis
  3. Ideation
  4. Prioritization
  5. Vetting and approval
  6. Execution

These steps are occurring explicitly or implicitly in every strategy planning process. They may occur in a cycle. For instance, every year in the case of annual strategy planning.

In the following series we'll quickly look at each of these steps in a short one to two minute video.

For more resources or services for establishing a best practice strategy process at your organization, contact us here or shoot us a note by email or on LinkedIn.

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