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Electronic Newsletter                 Issue 2007-11

 

November 2007

In this issue Striking Statistic, Timely Tip, Computer Clue, Group Gathering and Quick Quote

 

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  Copyright 2007
     Shirley Lee
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Striking Statistic

According to a 2006 executive survey conducted by The McKinsey Quarterly, over 50% of respondents said a formal planning process plays a significant role in developing corporate strategy.

 

Timely Tip

It is that time of year when many of you are trying to plan your strategy of what you will be doing in the next year to improve your business.  So I thought I would help you out a little with your planning effort based on an update project I have been doing to my Group Development Training  from teams to organization strategy.  In this issue, I would like to share a few tips from that development project with you for this time of year.

 

To begin the yearly process, individually or as a group, I suggest you answer the question "Where are we now?" as a performance audit for your organization or team. 

  1. Answer this question by looking at your group's strengths and skills, weaknesses and needed training/technology, as well as if you met your goals or objectives for the current year. 

  2. The next step would be to look at your opportunities for next year and potential new goals.

  3. The third step would be to list any threats that will prevent you taking the opportunities or barriers and risks that may make your new goals harder to reach.  

Once you have this data, move to Group Gathering section for group planning steps.

 

Group Gathering

To plan next year, you need to answer the question "Where do we want to go from here?"  

  1. To answer this question as a group put together a simple SWOT analysis using data from the 3 steps in Timely Tip section.  A SWOT analysis is 4 lists (Strengths, Weaknesses, Opportunities, Threats) put together in a quadrant where all data from each quadrant can be compared against each other in order to prepare a better plan for future actions.  You may do each list on a titled sheet of flip chart paper and then create the quadrant on a wall by taping the sheets up in the order below.

S  |  W

-----------

O  |   T

  1. After comparing the quadrants and making additions to each list, discuss what the goals or objectives should be for the next year and how to measure them. 

  2. Once these are agreed upon, determine what gaps exist and if any new skills or training are required to reduce barriers to reaching the goals or objectives. 

  3. Finally, make a plan that includes tasks as well as development options needed to fill gaps that would keep you from accomplishing the goals and objectives you set.  Then assign any necessary actions to carry out the plan.

This should get you on your way to better and more achievable strategic plan for making your business better in the new year.

 

Computer Clue

A final planning question is "How will we know when we get there?" This has to do with developing SMART goals.  SMART = Specific, Measurable, Attainable, Relevant, and Timely.  You can do an internet search on "SMART GOAL" to find out more on creating this type of goal. 

 

Developing a computer system or spreadsheet can be very useful for tracking and measuring your SMART goals.  For general tips and activities on setting goals, see my archived newsletter 2005-11 on Goal Setting

 

Quick Quote

"Strategy is a style of thinking, a conscious and deliberate process, an intensive implementation system, the science of insuring future success." - Pete Johnson

 

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