Crafting a Strategic Vision

Crafting a Strategic VisionMSOP 638 6.1 Scott Bohlin

Hello and welcome to Crafting a Strategic Vision1

Strategic Planning ProcessCritical thinking in businessVisionScenario PlanningContributing reasons for success and failing strategiesAccountability and strategyStrategy Execution

Getting Started

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Strategy is defined as A plan of action or policy designed to achieve a major or overall aim Strategy is used in business by means of a Strategic Planning Process.The strategic planning process requires the development of a mission statement for the organization. The mission statement incorporates the organization's purpose and vision for the futureDynamic business strategy needs to link to vision, mission, strategy and business growth through products/markets. (Ref. 1). The mission statement should include the ultimate aims of the firm thus providing unity of direction for managers, employee expectations, and tells customers what the organization represents (Ref. 2).

Strategy in Business

Strategy is defined as A plan of action or policy designed to achieve a major or overall aim Strategy is used in business by means of a Strategic Planning Process.

The strategic planning process requires the development of a mission statement for the organization. The mission statement incorporates the organization's purpose and vision for the future

Dynamic business strategy needs to link to vision, mission, strategy and business growth through products/markets.

The mission statement should include the ultimate aims of the firm thus providing unity of direction for managers, employee expectations, and tells customers what the organization represents.3

Critical thinking in its general definition is defined as The objective analysis and evaluation of issues in order to form a judgement The ability to have great or highly effective thought is of no use if you cant use them for success. The tool in which a critical thinker puts their thought to use is the ability of strategy. Critical thinking is, in short, self-directed, self-disciplined, self-monitored, and self-corrective thinking. It presupposes assent to rigorous standards of excellence and mindful command of its use.

Critical Thinking in Business

Critical thinking in its general definition is defined as The objective analysis and evaluation of issues in order to form a judgement

The ability to have great or highly effective thought is of no use if you cant use them for success. The tool in which a critical thinker puts their thought to use is the ability of strategy.

Critical thinking is, in short, self-directed, self-disciplined, self-monitored, and self-corrective thinking. It presupposes assent to rigorous standards of excellence and mindful command of its use.

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A well conceived vision consists of two major elements (Ref. 1) -Core ideologyEnvisioned future Vision provides guidance during strategic planning, evaluation, and developing of proposals.Strategic vision must be measureable in its progress, specific enough to decide if it is right for the organization, what it will provide, and how it distinguishes you from the competition.Vision

A well conceived vision consists of two major elements-Core ideology which is comprised of core values and purpose andEnvisioned future which Comprises of a 10-30 year audacious foal plus descriptions of what it will be like to achieve that goal

Vision provides guidance during strategic planning. Evaluation, and developing of proposals.

Strategic vision must be measureable in its progress, specific enough to decide if it is right for the organization, what it will provide, and how it distinguishes you from the competition.

Strategic vision is the link from present to the destination we want our organization to land on.5

Scenario planning has been defined as "a process of positing several informed, plausible and imagined alternative future environments in which decisions about the future may be played out, for the purpose of changing current thinking, improving decision making, enhancing human and organization learning and improving performance (Ref. 4)Scenario planning is an expensive organizational intervention and experts have often justified their high salaries based on the assertion that expertise in conducting the process is rare (Ref. 4). Rummler and Brache (1995) defined performance at the organizational level in terms of three core variables, namely-1) organization goals2) organization design and 3) organization management. Scenario planning must produce financial benefit in order to justify its expense.

Scenario Planning

Scenario planning has been defined as "a process of positing several informed, plausible and imagined alternative future environments in which decisions about the future may be played out, for the purpose of changing current thinking, improving decision making, enhancing human and organization learning and improving performanceScenario planning is an expensive organizational intervention and experts have often justified their high salaries based on the assertion that expertise in conducting the process is rare (Ref. 4). Rummler and Brache (1995) defined performance at the organizational level in terms of three core variables, namely1) organization goals2) organization design and 3) organization management. Scenario planning must produce financial benefit in order to justify its expense.

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The path to success-An achievable planExamine all pathsCompany alignmentEvaluate and adjustCommunicate and be transparent

The fall can be hard-Only partial commitmentNot understanding the environmentWrong people involvedUnwilling or unable to changeLosing sight of the goalContributing Reasons for Success and Failing Strategies

On the path to success-

You must have an achievable plan. A plan can be risky and ambitious but it must be achievable.

Examine all paths and leave yourself open to more than one.

Alignment. A strategic plan must be clearly stated, and must complement organization goals and vision.

Evaluate and adjust- Monitor your progress and prepare to be flexible

Communication and transparency- Success requires constant communication of progress and thus transparency

But if your not careful the fall can be hard-

Partial commitment-Token participation and we find doors closed, short resources, dooming a plan to fail before it has even begun.

Not understanding the environment - Just because a plan, project or product worked for the time does not mean the times or needs do not change

Wrong people involved- A title does not make a person the best choice for a specific task.

Unwillingness to change- Just as the markets change, customers needs and tastes change so must an organization be willing to change

Losing sight of the goal- at times when plans are going as well complacency can set in and that is the plan killer7

Accountability- the fact or condition of being accountable; responsibilityThe four factors that characterize a culture of accountability (Ref. 3)Expectations are clear to employees.Employees perceive that those expectations are credible and reasonable.Employees anticipate that positive consequences will follow performance.Employees anticipate that negative consequences will follow poor performance.

Accountability and Strategy

Accountability- the fact or condition of being accountable; responsibilityThe four factors that characterize a culture of accountabilityExpectations are clear to employees.Employees perceive that those expectations are credible and reasonable.Employees anticipate that positive consequences will follow performance.Employees anticipate that negative consequences will follow poor performance.

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Efforts and Courage are not enough without purpose and direction

JFKIn Closing

In closing I leave you today with this Quote, Efforts and Courage are not enough without purpose and direction John F Kennedy

And I Thank you for your time.9

(Ref. 1) Dhirendra Kumar, Enterprise Growth Strategy : Vision, Planning and Execution (Ref. 2) Kenneth W Green Jr., Bobby Medlin, The Strategic Planning Process: The link Between Mission Statement and Organizational. Academy of Strategic Management Journal 2 (2003)(Ref. 3) Jeff Grimshaw, Gregg Baron, Mike Barry, Neill Edwards, How to combat a culture of excuses and promote accountability. Strategy & Leadership 34.5 (2006) (Ref. 4) Thomas J Chermack, A Methodology for Assessing Performance-Based Scenario Planning. Journal of Leadership & Organizational Studies10.2 (Fall 2003)(Ref. 5) Jay Ogilvy, Scenario Planning and Strategic Forecasting, Forbes Srtatfor Contributor

References