Three Keys to Effective Planning: Part 2
Three planning activities can help ensure a robust, achievable plan: understanding the predictable consequences of the current state of things (and of the desired future state), identifying issues/obstacles which may impede progress on key objectives, and finally, clear articulation of what needs to stop to clear the way for organizational priorities. Let’s take a closer look at the process of identifying and planning/adjusting for natural consequences.
During a recent planning session with a rapidly growing company, we paused to answer the following question: “What are some of the natural consequences of rapid growth?” This was my first time working with this group and they hadn’t considered this question before, at least, not in strategic session. What followed was a highly-energized discussion of the impact of rapid growth on all aspects of the business. These included business process issues, relationships with certain transactional customers, the financial impact and an increased need to focus on receivables and cash flow, sourcing and storing raw materials, needed skill sets of team members, technology requirements and so on. All in all, quite an extensive list.
The group then prioritized these items with those rising to the top moving to the issues/obstacles list and ultimately working their way into key objectives for the next 90 days and beyond. Some of these made their way to the “stop doing” list. More on that next time.
To find out more about ways to improve your planning process and results, contact me at firstname.lastname@example.org.
Joseph P. Truncale, Ph.D., CAE, is the Founder and Principal of Alexander Joseph Associates, a privately held consultancy specializing in executive business advisory services with clients throughout the graphic communications industry.
Joe spent 30 years with NAPL, including 11 years as President and CEO. He is an adjunct professor at NYU teaching graduate courses in Executive Leadership; Financial Management and Analysis; Finance for Marketing Decisions; and Leadership: The C Suite Perspective. He may be reached at Joe@ajstrategy.com. Phone or text: (201) 394-8160.