Toolbox

DEVELOPING A
STRATEGIC BUSINESS
PLAN
Strategic Planning
…is the managerial process of
developing and maintaining a
strategic fit between the
organization's objectives and
resources and its changing
market opportunities.

Org Objectives Strategic Fit Resources

Changing Environment
The Role of Strategy

Corporate Strategy:
Mission & •Corporate Operating
Objectives •Business Plans
•Functional
Vision and Strategy
Sun Tze on Strategy

“Know your enemy, know yourself, and

your victory will not be threatened.
Know the terrain, know the weather, and
your victory will be complete.”
Strategic Marketing

“Marketing Strategy is a series of

integrated actions leading to a
sustainable competitive advantage.”
John Scully
Corporate Mission
Broad purposes of the
organization
General criteria for assessing the
long-term organizational
effectiveness
Driven by heritage &
environment
Mission statements are
increasingly being developed at
the SBU level as well
Examples of Corporate Mission
SINGAPORE AIRLINES is engaged in
air transportation and related
businesses. It operates world-
wide as the flag carrier of the
Republic of Singapore, aiming to
provide services of the highest
quality at reasonable prices for
customers and a profit for the
company
Examples of Corporate Mission
(cont’d)

MARRIOTT’S Mission Statement:

We are committed to being the
best lodging and food service
company in the world, by treating
employees in ways that create
extraordinary customer service
and shareholder value
Corporate Culture
The most abstract level of
managerial thinking
How do you define culture?
What is the significance of
culture to an organization?
How does marketing affect
culture in the organization?
Corporate Objectives &
Goals
An objective is a long-range
purpose
◦ Not quantified and not limited to a time
period
◦ E.g. increasing the return on shareholders’
equity
A goal is a measurable objective
of the business
◦ Attainable at some specific future date
through planned actions
◦ E.g. 10% growth in the next two years
Strategic planning
 STRATEGIC PLAN DEVELOPMENT
Environmental and internal Strategic definition and
assessment
Industry implications
dynamics • What are the major • What strategy will you
changes in industry Strategy pursue over the next 3
and
dynamics and articulation years?
implication
s resulting
+ opportunities and +
risks?
Competitiv • What are your • What will be the
competitive Strategic impact of major
e
strengths and initiatives strategic initiatives?
assessment
weaknesses?
+ +
• How does your • What are the expected
Internal current business Financial financial returns of
assessment emphasis fit with projections your strategy?
industry
opportunity and +
competitive
Risk/continge • What strategic
landscape?
n-cies & alternatives have you
strategic
alternatives
considered?
The Usual Business Planning
Hierarchy
Tactics
Strategies
Objectives
Mission
Vision
Plans
Strategic Planning – Many Sub
Plans
Framework of a Successful
Organisation
Business Planning and Delivery
 Vision is a Critical Driver
 To succeed in the
long term, our
business needs a
vision of how we
will change and
improve in the
future.
 “without a vision,
the people perish”
  The vision of the
business gives its
energy.
◦ It helps motivate us.
◦ It helps set the
direction of
corporate and
marketing strategy.
Values underpin all we do
Values form the foundation of a business’ management style.
 Values provide the justification of behaviour and, therefore, exert significant
influence on marketing decisions.
 An example is provided by BT Group - defining its values:
  BT's activities are underpinned by a set of values that all BT people are
asked to respect:
◦ We put customers first
◦ We are professional
◦ We respect each other
◦ We work as one team
◦ We are committed to continuous improvement.
  These are supported by our vision of a communications-rich world - a world
in which everyone can benefit from the power of communication skills and
technology.
  A society in which individuals, organisations and communities have
unlimited access to one another and to a world of knowledge, via a
multiplicity of communications technologies including voice, data, mobile,
internet - regardless of nationality, culture, class or education.
  Our job is to facilitate effective communication, irrespective of geography,
distance, time or complexity.
Source: BT Group plc website
 Has the Company got a strong
Clear Mission?
The Business Mission is
important to our sales
& marketing planning
It provides an outline of
how the marketing plan
should seek to fulfil the
mission
It provides a means of
evaluating and screening
the marketing plan; are
marketing decisions
consistent with the
mission?
It provides an incentive to
implement the marketing
plan
"Strategy is the direction
and scope of an
organisation over the long-
term: which achieves
advantage for the
organisation through its
configuration of resources
within a challenging
environment, to meet the
needs of markets and to
fulfil stakeholder
expectations".
Strategic Audit
- ensuring that the Company resources and competencies are understood and
evaluated

Resource Audit
Need to work within Company
Resources & Constraints
Financial
Objectives - Corporate &
Functional
Corporate
Value Chain Analysis
Value Chain Analysis describes the activities that take place in a business
and relates them to an analysis of the competitive strength of the business.
Michael Porter suggested that the activities of a business could be grouped
under two headings:
1. Primary Activities - those that are directly concerned with creating and delivering a
product (e.g. component assembly); and
2. Support Activities, which whilst they are not directly involved in production, may
increase effectiveness or efficiency (e.g. human resource management). It is rare for
a business to undertake all primary and support activities.
Value Chain Analysis is one way of identifying which activities are best
undertaken by our business and which are best provided by others
("outsourced").

Linking Value Chain Analysis to Competitive Advantage

What activities a business undertakes is directly linked to achieving
competitive advantage.
For example, if we wish to outperform our competitors through
differentiating ourselves through higher quality then we will have to
perform our value chain activities better than the opposition.
But if we adopt a strategy based on seeking cost leadership this will require
a reduction in the costs associated with the value chain activities, or a
reduction in the total amount of resources used.
Primary Activities
Primary value chain activities include:

Primary Description
Activity
Inbound All those activities concerned with receiving and storing externally sourced
logistics materials

Operations The manufacture of products and services - the way in which resource inputs
(e.g. materials) are converted to outputs (e.g. products)

Outbound All those activities associated with getting finished goods and services to buyers
logistics

Marketing and Essentially an information activity - informing buyers and consumers about
sales products and services (benefits, use, price etc.)

Service All those activities associated with maintaining product performance after the
product has been sold
Support Activities
Support activities include:
Secondary Description
Activity
Procurement This concerns how resources are acquired for a business (e.g. sourcing
and negotiating with materials suppliers)

Human Resource Those activities concerned with recruiting, developing, motivating and
Management rewarding the workforce of a business

Technology Activities concerned with managing information processing and the

Development development and protection of "knowledge" in a business

Infrastructure Concerned with a wide range of support systems and functions such as
finance, planning, quality control and general senior management
Steps in a Value Chain Analysis
Core competencies
 Core competencies are those capabilities that are critical to a
business achieving competitive advantage.
 The starting point for analysing core competencies is recognising
that competition between businesses is as much a race for
competence mastery as it is for market position and market power.
 Senior management cannot focus on all activities of a business and
the competencies required to undertake them.
 So the goal is for management to focus attention on competencies
that really affect competitive advantage.
 Core Competencies are not seen as being fixed. Core Competencies
should change in response to changes in the company's
environment. They are flexible and evolve over time. As a business
evolves and adapts to new circumstances and opportunities, so its
Core Competencies will have to adapt and change.
 We need to understand what we are good and what makes us
better and to hone these advantages and to develop new ones to
underpin the business strategy
Identifying Core Competencies
Prahalad and Hamel suggest three factors to help identify core competencies in any business:

What does the Core

Competence Comments
Achieve?

Provides potential The key core competencies are those that enable the creation of new
access to a wide products and services.
variety of markets

Makes a significant Core competencies are the skills that enable a business to deliver a
contribution to the fundamental customer benefit - in other words: what is it that causes
perceived customer customers to choose one product over another? To identify core
benefits of the end competencies in a particular market, ask questions such as "why is the
product customer willing to pay more or less for one product or service than
another?" "What is a customer actually paying for?

Difficult for A core competence should be "competitively unique": In many

competitors to industries, most skills can be considered a prerequisite for participation
imitate and do not provide any significant competitor differentiation. To qualify as
"core", a competence should be something that other competitors wish
they had within their own business.
What is Competitive
Advantage?
“Competitive advantage is a
company’s ability to perform in
one or more ways that
competitors cannot or will not
match.”
Philip Kotler
“Ifyou don’t have a competitive
advantage, don’t compete.”
Jack Welch, GE
 Four Generic Strategies

Lower Cost Differentiation

Broad
Target

Scope

Narrow
Target
 Other Characteristics of
Competitive Advantage
Substantiality
◦ Is it substantial enough to make a
difference?
Sustainability
◦ Can it be neutralized by competitors
quickly?
Ability to be leveraged into
visible business attributes that
will influence customers
(Source: Strategic Marketing Management,
Aakers)
Seeking Competitive Advantages
Positions of advantage
◦ Superior customer value
◦ Lower relative total cost
Performance advantages
◦ Customer satisfaction, Loyalty,
Market Share, Profit
Sources of advantages
◦ Superior skills & knowledge, Superior
resources, Superior business process
 WHERE TO COMPETE?
Target customers and segments
• Which customers are you trying to target or
attract?
• Which are you willing to serve, but will not spend
resources to attract?
• Which would you prefer not to serve?

Customer
s

Geographical
scope of business How does the
activities entity reach its
• Geographic limits to Geographi target customers
the business? c markets Channels
• Which distribution
• Local, regional, multi- channels will you use?
local, national, • What customer
international, or segments can they
global player? reach?
• If local, which
localities? Products

Quality and breadth of the

product line
• Breadth of the product line?
• Quality of the product line?
• Product bundles or a series of unrelated
products?
Capability platform: assessment of
sources of
competitive advantage (1/2)
Example

Physical asset • BHP’s low-cost mines

Location/"space" • Telecomm/media company with

rights
Privileged radio spectrum
assets Distribution/sales
network • Avon’s representatives

Brand/reputation • Coca-Cola
Necessar
y Patent • Pharmaceutical company with a
capabiliti "wonder drug”
es in
order to Relationship with • "Favored nation" status with a key
succeed "license" allocator minister in liberalizing economy
in the
industry Innovation • 3M with new products

Distinctive Cross-functional • McDonald’s with QSC&V

competencies coordination
• J&J with branded consumer health
Market positioning products

Cost/efficiency • Emerson Electric’s Best Cost Producer

management program

Talent development • P&G brand management program

Capability platform: assessment of Extremely relevant

sources of competitive advantage

Somewhat
relevant
Irrelevant
(2/2)
Segments
BU A B C
Overall
Physical asset

Location/"space"
Privileged
assets Distribution/sales network

Brand/reputation
Necessary
capabilities Patent
in order to
succeed in Relationship with "license"
the industry allocator
Innovation

Cross-functional
Distinctive coordination
competencies
Market positioning

Cost/efficiency
management Talent
development
Step 2: Assess your overall position relative
Step 1: Ensure that these are the
to the capabilities required to succeed in the
capabilities required to succeed in
industry. Also, determine if these
the industry. Use this list as a
capabilities are relevant to the segments
thought starter, add and delete as
you serve
you see appropriate
 Competitor capability comparison
Competito
BU Overall rs
A B C
Physical asset •
•
Location/"space"
Privileged
assets Distribution/sales network •
•
Brand/reputation
Necessar
y Patent
capabiliti
es in Relationship with "license"
order to allocator
Innovation
succeed
in the
Cross-functional
industry
Distinctive coordination
competencies
Market positioning

Cost/efficiency
management Talent
development

Step 3: Compare the strengths and

weaknesses of your competitive position vs. the
necessary skills
Porter’s 5 Forces of Competitive
Position Diagram
Porter 5 Forces
Porter’s 5 Forces of
Competitive Position version
#2
Porter’s 5 Forces of Competitive
Position #3
Entry Barriers
Economies of Scale
Brand Identity
Capital Requirements Rivalry Determinants
Industry Growth
Fixed Costs
New Product Differences
Determinants of Supplier Power Entrants Brand Identity
Switching Costs Exit Barriers
Supplier Volume
Impact
Forward Integration
Industry
Competitors
Suppliers Buyers
Intensity
of Rivalry Determinants of Buyer Power
Buyer Concentration
Determinants of Buyer Volume
Substitution Threat
Backward Integration
Relative Price
Performance Substitutes
Switching Costs
 Forces at work framework
1. Determinants of supplier power 2. Determinants of barriers to entry
• Differentiation of inputs • Economies of scale
• Switching costs of suppliers and firms in • Proprietary product differences
the industry • Brand identity
• Presence of substitute inputs • Switching costs
• Supplier concentration • Capital requirements
• Importance of volume to supplier • Access to distribution
• Cost relative to total purchases in the 2. New • Absolute cost advantages
industry entrants – Proprietary learning curve
• Impact of inputs on cost or – Access to necessary inputs
differentiation – Proprietary, low-cost product design
• Threat of forward integration relative to 5. Industry • Government policy
threat of backward integration by firms competitors • Expected retaliation
in the industry 1. Suppliers
3. Buyers
Intensity of 3. Determinants of buying power
5. Rivalry determinants rivalry • Bargaining leverage
• Industry growth – Buyer concentration vs. firm
• Fixed (or storage) cost/value added concentration
• Intermittent overcapacity 4. – Buyer volume
• Product differences Substitutes – Buyer switching costs relative to
• Brand identity firm switching costs
• Switching costs 4. Determinants of – Buyer information
• Concentration and balance substitution threat – Ability to backward integrate
• Informational complexity • Relative price performance – Substitute products
• Diversity of competitors of substitutes – Pull-through
• Corporate stakes • Switching costs • Price sensitivity
• Exit barriers • Buyer propensity to – Price/total purchases
substitute – Product differences
– Brand Identity
– Impact on quality perception
– Buyer profits
– Decision makers' incentives
 Ninety ways to measure
demand (6 x 5 x 3)
Geographical World
Level Region
Country
Territory
Client
Total sales
Sector sales
Company’s sales
Product Product lines
Level
Product config
Product items
Short Medium Long
term term term

Timing Level
Strategic Planning Link with
Marketing Planning
 Businesses that succeed do so by creating and keeping customers.
 They do this by providing better value for the customer than the
competition.
 Marketing management constantly have to assess which customers
they are trying to reach and how they can design products and
services that provide better value (“competitive advantage”).
 The main problem with this process is that the “environment” in
which businesses operate is constantly changing.
 So a business must adapt to reflect changes in the environment and
make decisions about how to change the marketing mix in order to
succeed.
 This process of adapting and decision-making is known as
marketing planning.
Strategic vs. Marketing
Plans
Strategic planning is concerned about the overall direction of the
business.
◦ It is concerned with marketing, of course.
◦ But it also involves decision-making about production and operations, finance,
human resource management and other business issues.

The objective of a strategic plan is to set the direction of a

business and create its shape so that the products and services
it provides meet the overall business objectives.

Marketing has a key role to play in strategic planning, because it is the

job of marketing management to understand and manage the links
between the business and the “environment”. Sometimes this is quite a
straightforward task.
◦ For example, in many small businesses there is only one geographical market
and a limited number of products (perhaps only one product!).
◦ However, consider the challenge faced by marketing management in a
multinational business, with hundreds of business units located around the globe,
producing a wide range of products.
◦ Keeping control of marketing decision-making in such a complex situation calls
for well-organised marketing planning.
Key issues in strategic and
marketing planning?
The following questions are key in the marketing and strategic
planning process:
◦ Where are we now?
◦ How did we get there?
◦ Where are we heading?
◦ Where would we like to be?
◦ How do we get there?
◦ Are we on course?

A marketing plan helps to:

◦ The ability of a business to achieve profitable sales is impacted by dozens
of environmental factors, many of which are inter-connected
◦ Identify sources of competitive advantage
◦ Gain commitment to a strategy
◦ Get resources needed to invest in and build the business
◦ Inform stakeholders in the business
◦ Set objectives and strategies
◦ Measure performance
Situation Analysis
InternalAnalysis—company; capability etc.
External Analysis—customers, market
definition, industry structure
SWOT Analysis
◦ Strengths, Weaknesses,
Opportunities & Threats
◦ Identify & prioritize major problems and
opportunities: selection of key issues
Based on the firm’s core
competencies, decide on future
options
 SWOT
Internal Environment
Strengths Weaknesses
World class product Technical support
Financial resources Internal processes
Know-how Channels network

External Environment
Opportunities Threats
Water & Energy crises Competitors market share
Environment awareness Euro X Dollar
Productivity improvement Technology development
SWOT ANALYSIS

Opportunities/Thre
ats

NEUTRALIZ • How are demand

E THREATS and supply
expected to evolve?
• How do you expect
the industry chain
economics to
evolve?
• What are the
YOUR
BUILD ON CONVERT potential major
BUSINESS
STRENGTHS OPPORTUNITIES industry
Strengths/ discontinuities?
Weaknesses • What competitor
actions do you
• What are your expect?
BU’s Surfaces potential
ADDRESS opportunities/threats
assets/competenci
WEAK- arising from factors
es that solidify NESSES external to the business
your competitive
position?
• What are your
BU’s
assets/competenci
es that weaken
yourCan be used as a
competitive
thought starter for
position?
competitive analysis and
internal assessment
SWOT Analysis is still a useful
Tool
 TOWS matrix
Strengths Weaknesses

Opportunities S-O strategies W-O strategies

Threats S-T strategies W-T strategies

S-O strategies pursue opportunities that are a good fit to

the companies strengths.
W-O strategies overcome weaknesses to pursue
opportunities.
S-T strategies identify ways that the firm can use its
strengths to reduce its vulnerability to external threats.
W-T strategies establish a defensive plan to prevent the
firm's weaknesses from making it highly susceptible to
PEST analysis
A scan of the external macro-
environment in which the company
wants to operate (or operates) and
can be expressed in terms of the
following factors:

◦ Political
◦ Economic
◦ Social
◦ Technological
PEST Analysis - market, business, proposition, etc.
POLITICAL
• ecological/environmental issues
• current legislation home market
• future legislation
• European/international legislation
• regulatory bodies and processes
• government policies
• government term and change
• trading policies
• funding, grants and initiatives
• home market lobbying/pressure groups
• international pressure groups
• wars and conflict
SOCIAL
• lifestyle trends
• demographics
• consumer attitudes and opinions
• media views
• law changes affecting social factors
• brand, company, technology image
• consumer buying patterns
• fashion and role models
• major events and influences
• buying access and trends
• ethnic/religious factors
• advertising and publicity
• ethical issues
ECONOMIC
• home economy situation
• home economy trends
• overseas economies and trends
• general taxation issues
• taxation specific to product/services
• seasonality/weather issues
• market and trade cycles
• specific industry factors
• market routes and distribution trends
• customer/end-user drivers
• interest and exchange rates
• international trade/monetary issues
TECHNOLOGICAL
• competing technology development
• research funding
• associated/dependent technologies
• replacement technology/solutions
• maturity of technology
• manufacturing maturity and capacity
• information and communications
• consumer buying mechanisms/technology
• technology legislation
• innovation potential
• technology access, licencing, patents
• intellectual property issues
• global communications
PEST or SWOT
A PEST analysis most commonly measures a market; a
SWOT analysis measures a business unit, a proposition
or idea.
Generally speaking a SWOT analysis measures a business
unit or proposition, whereas a PEST analysis measures the
market potential and situation, particularly indicating growth
or decline, and thereby market attractiveness, business
potential, and suitability of access - market potential and 'fit'
in other words.
PEST analysis uses four perspectives, which give a logical
structure, in this case organized by the PEST format, that
helps understanding, presentation, discussion and decision-
making.
PEST analysis can be used for marketing and business
development assessment and decision-making, and the PEST
template encourages proactive thinking, rather than relying
on habitual or instinctive reactions.
 Structure-conduct-performance
(SCP) model
Industry Producers

External
shocks S tructure C onduct P erformance

Feedback
• Technology Economics of demand Marketing Finance
breakthroughs • Availability of substitutes • Pricing • Profitability
• Changes in • Differentiability of products • Volume • Value creation
government • Rate of growth • Advertising/promotion Technological
policy/regulations • Volatility/cyclicality • New products/R&D progress
– Domestic Economics of supply • Distribution Employment
– International • Concentration of producers Capacity change objectives
• Import competition • Expansion/contraction
• Diversity of producers • Entry/exit
• Fixed/variable cost • Acquisition/merger/
structure divestiture
• Capacity utilization Vertical integration
• Entry/exit barriers • Forward/backward integration
Industry chain economics • Vertical joint ventures
• Bargaining power of input • Long-term contracts
suppliers Internal efficiency
• Bargaining power of • Cost control
customers • Logistics
• Process R&D
• Organization effectiveness
Definition of risks
Definition

• Risk of loss due to changes in industry and

Business risk competitive environment, as well as shifts in
customer preferences
• Risk due to changes in regulatory environment
Regulatory risk (e.g. deregulation)

• Risk due to major changes in technology

Technology risk

• Risk of failures due to business processes and

Integrity risk operations or people’s behavior, either intentional
(e.g. fraud) or unintentional (e.g. errors)

Macroeconomic • Risk of loss due to changes in the political, social,

risk or economic environments
Management

Management, control and

evaluation
Five disciplines – Peter Senge
 Personal Mastery:
◦ Aspiration involves formulating a coherent picture of the
results people most desire to gain as individuals, alongside a
realistic assessment of the current state of their lives today.
◦ Learning to cultivate the tension between vision and reality
can expand people's capacity to make better choices, and to
achieve more of the results that they have chosen.
 Mental Models:
◦ Reflection and inquiry skills is focused around developing
awareness of the attitudes and perceptions that influence
thought and interaction.
◦ By continually reflecting upon, talking about, and
reconsidering these internal pictures of the world, people
can gain more capability in governing their actions and
decisions.
Five disciplines – Peter Senge
Shared Vision:
◦ Establishes a focus on mutual purpose.
◦ People learn to nourish a sense of commitment in a
group or organization by developing shared images
of the future they seek to create, and the principles
and guiding practices by which they hope to get
there.
Team Learning:
◦ Group interaction.
◦ Through techniques like dialogue and skillful
discussion, teams transform their collective
thinking, learning to mobilize their energies and
actions to achieve common goals, and drawing
forth an intelligence and ability greater than the
sum of individual members' talents.
Five disciplines – Peter Senge
 Systems Thinking:
◦ People learn to better understand
interdependency and change, and thereby to
deal more effectively with the forces that shape
the consequences of our actions.
◦ Systems thinking is based upon a growing body
of theory about the behavior of feedback and
complexity - the innate tendencies of a system
that lead to growth or stability over time.
◦ To help people see how to change systems
more effectively and how to act more in tune
with the larger processes of the natural and
economic world.
Project management - processes
Project management – a process
Project management – process
chain
Project management – risk
analysis
Success Keys - Deployment
Deployment - Completing the Plan
Success Failure
>Assign roles and >No accountability for deployment
responsibilities
>Too many goals, strategies, or
>Establish priorities objectives - no apparent priority

>Plan in a vacuum-functional focus

>Involve mid-level
management as active
participants >No overall strategy to implement

>Think it through - decide how

to manage implementation
>Charge mid-level
management with aligning
lower-level plans
>Make no attempt to link with day-
to-day operations
>Not being thorough-glossing over
the details

>Make careful choices about

the contents of the plan and
Success Keys - Communication

Deployment - Communicating
Success Failure
Assign roles and No accountability
responsibilities
Never talk about the plan
Communicate the plan
constantly
and consistently Ignore the emotional impact of
change
Recognize the change process
Focus only on task
Help people through the accomplishment
change
process
Success Keys - Implementation
Implementing - I
Success Failure
Assign roles and No accountability
responsibilities
Disengagement from process
Involve senior leaders
Unmanaged activity
Define an infrastructure
Fragmented accomplishment of
Link goal groups objectives leads to sub-
optimization

Phase integration of Force people to choose

implementation between implementation and
actions with workload daily work; too many teams

Involve everyone within the No alignment of strategies

organization
Success Keys - Implementation

Implementing - II
Success Failure
Allocate resources for Focus only on short term need
implementation for resources

Ignore or avoid change

Manage the change process
No measurement system
Evaluate results
Hide mistakes/lay blame;
Share lessons learned; limited/no communication
acknowledge
successes through open and
frequent communication
Success Keys - Measurement

Strategic Measurement - I
Success Failure
Assign roles and No accountability
responsibilities
Sub-optimization: focus only
Use measurement to on
understand efficiencies
the organization
Use measures that provide no
Use measurement to provide a real
consistent viewpoint from information on performance;
which to use
gauge performance too many measures

Use measurement to provide Use measurement to focus on

an the
integrated, focused view of the bottom-line only
Success Keys - Measurement

Strategic Measurement - II
Success
Use measurement to
communicate
policy (new strategic direction)
Update the measurement
system
Use measurement to provide
quality feedback to the
strategic
management process
Failure
Use measurement to control
Never review measures
Fail to use measurement to
make
strategic, fact-based decisions;
use
only for control
Success Keys - Evaluation
Evaluation
Success Failure
Assign roles and responsibilities No accountability

Recognize when to update the Poor timing and not

plan recognizing external forces

Rigid application of strategic

Modify strategic planning process planning process; ignore
to accommodate the more mature lessons learned from previous
organization efforts

Ignore impact of new leaders

Incorporate new leaders into the
strategic planning process
Don't use measurement
Integrate measurement with information
strategic planning
Shortcut the process
Use experienced strategic
planning facilitators
 Best Companies Spend more
time on Forward Planning than
Historical Analysis

Achieving Agility Through a New Approach to Forecasting In today’s turbulent economy, rolling forecasts are
proving to be an important new tool in changing the way budgeting and planning has traditionally been
Benefits of Rolling Forecasts