Tweet

The Corporate Crystal Ball

Guest post by: Betty Penny

Article Overview: From local governments and charities to multinationals, a well-planned and implemented strategic planning program has helped these organizations plot their preferred future, rather than simply scrambling to react to change – good or bad – as it happens.To be effective, strategic planning must have structure. Thus, there is a pre-process. The course it travels will, naturally, vary according to resources, need, and whether or not this tactic has been tried in the past. But whatever the circumstances, there are a few basics to consider.

The Corporate Crystal Ball

Of the many lessons corporate Canada and independent businesspersons have learned this decade, perhaps the most important, is that change happens. The next most important lesson may very well be that the keep to managing change is to ride it rather than resist it, understand it and make it work for you. But how is this done when change happens, seemingly, over night and without warning? Is it possible to successfully prepare for change even when it happens in the world around the corporation, without recourse to a psychic or a crystal ball?

Set aside the psychics and the crystal balls – strategic planning is a solid too to assist in anticipating and managing change and is a solution that is finding favour throughout the business world. It works for a variety of corporations and institutions with an equally diverse range of bottom lines. From local governments and charities to multinationals, a well-planned and implemented strategic planning program has helped these organizations plot their preferred future, rather than simply scrambling to react to change – good or bad – as it happens.

The benefits of proactive versus reactive approaches are obvious, but let us that this notion a little further. Strategic planning provides an opportunity to address critical issues such as that bottom line, and to clarify and redefine your company’s role, product, and client base. Goal setting is a natural by-product of this process, and a perfect opportunity for employees to provide their input and cement their commitment.

Where to begin…….

To be effective, strategic planning must have structure. Thus, there is a pre-process. The course it travels will, naturally, vary according to resources, need, and whether or not this tactic has been tried in the past. But whatever the circumstances, there are a few basics to consider.

Let’s begin with address why: why does your organization need strategic planning? Are there factors at work in the greater community that will affect the corporation’s economic viability? Look at the local plant closures and radical changes in the economic base for some guidance here. Equally important are the question “what” and “where”. What is needed to keep the corporation viable and where do we want to be in two, three or five years?

Hiring a facilitator is essential to help set this agenda and keep everyone to it. Not surprisingly, many freelance facilitators have emerged in the past few years. As I noted, a professional will keep the group on track and on task, but more important the participants will have confidence in the process, and rest easy with the facilitator’s impartiality.

A contract may be struck with the facilitator in advance as to who will do what, when, and how in order to achieve the team’s short term planning goals. A professional will also provide some guidance as to who exactly should be invited to the table. All those affected by the outcome should be included. Their roles must be defined as well as the time commitment demanded of them.

An optimal team size is nine to twelve people. Several time slots are possible including a series of two or three two-day sessions, or a combination of half-day and full-day sessions over a short period of time. In either case, time is needed between meetings to give your strategic planning team a chance to reflect, gather facts, and get input from others.

Now it’s crystal ball time. The opportunity to project into the future is upon each and every member of the team. What does the future hold?

Related Articles
  New Opportunity from a Seasoned Industry
  Making it Easier for Your Salespeople to Succeed
  Leadership Strategy - Remove The Deal Breaker to Success And Happiness
  Where Are You In Your Client\'s Buying Cycle?
  Quit Swinging the Bat and Start Hitting the Ball
  Staying Motivated In A Struggling Economy
  You Have To Want To
  Seeing Blindspots
  The Magic of Marketing
  Spontaneity
  Eye on the Ball
  Are Your Intentions Crystal Clear
  THE VALUE OF A PERSONAL MISSION STATEMENT
  Smart Women Have a Good Eye
  Derek Jeters Shows Salespeople How To Convert Leads to Opportunities
  How to Market Your Small Business When the Future is Uncertain
  Top 7 Tips in Selecting an Executive Coach, Corporate Coach or Business Coach
  Today’s “rant” – can’t take eye off the ball
  Blueprint for Building a Business On Purpose
  Rule of 3 not 2 not 4

Article Tags: circumstances, crystal ball, resources need, strategic planning, tactic



Related Forum Posts
Corporate Resource Speakers in Australia - Where can we find one of the best Corporate Resource Speakers in Australia?
Which movie will make the most money this summer? - Which movie do you think will make the most money this summer and why? Moreover, what do you think its box office total will be? Personally, I'm most looking forward to watching the new Batman movie ("The Dark Knight"), but I think "Indiana Jones and the Kingdom of the Crystal Skull's" brand and family adventure appeal will help it to reign supreme at the box office.
Seeking advice on working procedure of Convenience Store Fra - I have some queries about the working of the franchises. How does the relationship between the Store Owner, Suppliers and Corporate works exactly? How does the store owners get reimbursed when they sell commodities like coke in fewer prices than others?
Re: Which movie will make the most money this summer? - Hellboy disappeared from the Top-10 faster than I expected.. Journey To The Center of the Earth was fun (I saw it in 3D), but really suffered from the fact that it didn't have a villain to provide tension. The problem with Crystal Skull as a family film was that it had that totally unneccessary sequence with the voracious ants eating people alive... I didn't like it when it happened in the Mummy with the beetles, and I didn't like it here! Dark Knight seems to keep chugging along. One thing that really irritates me about movies is that sometimes the trailers shown are totally inappropriate for the movie it's preceding. I went to a screening of Wall-E - with a theater full of little kids, and they showed two rather graphic trailers for horror movies! That's totally unacceptable!
Re: Water balls - funny business idea - [quote="ideasuniversity":7t0dim7x]$1000 is not too costly for the waterfall if they market it well. They should market it to corporate bodies who have enough money to burn on advertisment[/quote:7t0dim7x] Well, you have a point here. Although, not all people could afford that amount especially when there are good and also cool marketing tactics around which are FREE! People are so hungry with freebies nowadays. So as this Water Ball could really be of high quality to sell upfront, you can start promoting it on web posting your website on "free ads", free press releases, etc to increase your traffic. Then once you've gathered your audience, it's good way to start selling.


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Steps For Starting A Small Business

If I Were Starting A Network Marketing Company...

Providing Feedback

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.