Our View of Strategic Planning

Strategic planning is a means to an end, not an end in itself. It begins with a vision, translated into goals that strike a balance between desired performance and what is realistically attainable. Plans that are too ambitious, or that can be achieved only under the most optimistic circumstances, are soon abandoned. Plans that merely reflect business as usual are ineffective.

If we have learned anything from preparing and reviewing hundreds of plans, both successful and unsuccessful, it is the importance of adequate attention to developing goals, then laying out a general program to achieve them. Filling out forms and preparing financial forecasts are not the essence of planning. Planning requires thinking about the longer-range prospects of the business and identifying necessary resources and actions to achieve one's goals. Successful plans include mechanisms to track progress, with flexibility to adapt to changing circumstances.

Sophisticated techniques have their place, but an uncomplicated, workable plan, readily understood and embraced by all, is usually best. We advocate focusing on a few key issues that can be acted upon and measured, then carefully monitoring progress on them.