Strategic planning is an organization’s process for defining long-term direction. This process also includes making decisions on allocating resources to pursue this direction. Many organizations struggle with the development, deployment, or maintenance of strategic plans, which can happen for a variety of reasons.
In our upcoming webinar on August 24th, we’ll be covering the 6 Steps to Successful Strategic Planning in detail, but we’ll give you a sneak peak at the list with this top tip for greatness in 2017.
One way to improve your chances of success when creating and implementing a strategic plan is to begin the process with an exponential mindset.
The more traditional incremental strategic plans allow for small improvements at a steady rate. There is a set schedule and clear timeline for when changes should occur. On the other hand, leaders with an exponential mindset seek changes that have a major impact on the organization. Like a kaizen event, exponential strategic plans require a new approach to problems and aim to produce rapid, profound improvements.
While incremental strategic plans may produce improvements of 10%, exponential plans can lead to returns of 10x. This comes with a caveat, however. Exponential plans are more creative and allow for such dynamic change because there is not necessarily a clear, straight line from point A to point B. One of the trickiest parts of developing and implementing an exponential strategic plan is accepting the uncertainty that comes along with it.
Another challenge with exponential plans is that the results may not be seen right away or on a linear schedule, as they would with an incremental plan. Most of the progress occurs at the end of the process, and is not evenly distributed throughout the early and middle stages. If you can get past this, the rewards can be worthwhile. Having an exponential mindset can open up opportunities for innovation and transformational change.
For the past 75 years, Juran has been an industry leader in performance excellence. We are your on-demand team of trainers, coaches, and expert consultants. Built upon the philosophies laid out by Dr. Juran, the father of quality, we put you on the fast track to results by designing improvement initiatives that actually work. We aim to help all organizations achieve the highest quality of products, people, and processes, and we understand the importance of transferring our knowledge to your team to guarantee the success of your program in the future.