strategy and business planning - presentation

Creed Business Solu.ons, LLC 13411 W. 128th Terrace Overland Park, KS 66213 Phone: (913) 940-‐6767 [email protected] _______________________________________________________________

Business Planning -‐ A Prac.cal Approach to Achieving Results -‐

Bill Marden President

Copyright © 2013-‐2015 Creed Business Solu.ons. All rights reserved.

Strategic Business Planning -‐ Business Benefits -‐

•  Posi.ve results won’t happen by chance!

•  Creates Alignment – business purpose, direc.on, and priori.es

•  Links strategy/goals/processes/tasks -‐ Reduces unnecessary ac.vity

•  Helps define, clarify, and communicate corporate culture for key cons.tuents

•  Improves alloca.on of resources and capital

•  Develops employees/management team

•  Minimizes surprises/risks


Strategic Business Planning -‐ Common Obstacles -‐

•  We’ve always been successful without a plan

•  Our business is too dynamic – changes occur frequently

•  We don’t have the .me or resources

•  Business Plans feel too bureaucra.c – I simply need to make a profit

•  We already have a planning process – why change?


Strategic Business Planning -‐ 10 Principles of Effec.ve Planning -‐

1)  Business Plans are a “means” to an “end” – a tool to achieve results 2)  There are significant intangible benefits 3)  Simple is ogen beher – let the “demand” drive the “complexity” 4)  Customize a process that fits your organiza.on 5)  Leverage others – Never relinquish ul.mate responsibility 6)  Honestly assess your business 7)  Take .me to envision the future 8)  Ac.on plans should focus on “drivers” of the results 9)  Diligent execu.on is cri.cal to achieving results 10)  Leverage “Strategic” and “Cri.cal” thinking skills to navigate through

unforeseen challenges


Strategic Business Planning -‐ Key Steps -‐

1.  Business assessment

2.  Brainstorm and define your future state

3.  Iden.fy the gap between current and ideal

4.  Develop high level plan to close the gap and achieve results

5.  Develop specific/annual plan (Next best steps)

6.  Establish and implement execu.on plan

7.  Review progress/modify direc.on


Strategic Business Planning -‐ Step One -‐

Assess Your Business

•  Establishes baseline for all ini.a.ves •  Challenge your current assump.ons – Maintain objec.vity •  U.lize assessment tools

Ø  Historical performance Ø  Current Trends Ø  Forecas.ng Ø  SWOT Analyses Ø  Market/Compe.tor Analyses Ø  Financial Analyses

•  Determine percep.ons of key cons.tuents (Owners/shareholders, customers, suppliers, employees, regulatory agencies, business partners)

•  Involve others •  Document – what you know and don’t know Copyright © 2013-‐2015 Creed Business Solu.ons. All rights

reserved.

Strategic Business Planning -‐ Step Two -‐

Envision the Future

•  Begin with the end in mind

•  Brainstorm on future state Ø  Strategy – What could/should we look like in 5-‐10 years?

Ø  Project – What results do we expect?

Ø  Change/Development – What ahributes/behaviors/outcomes are expected?

•  “Paint a picture” – What will it look like?

•  Consider the future from different perspec.ves – Consider key cons.tuents

•  Involve others/imagine/debate

•  Document


Strategic Business Planning -‐ Step Three -‐

Iden.fy the Gap

•  Start conceptually – Don’t get bogged down by detail

•  Involve others/brainstorm/debate

•  Don’t be distracted by magnitude of obstacles Ø  Decisions regarding ac.on items can be made later

Ø  There are mul.ple ways to overcome obstacles

•  Rank poten.al ini.a.ves according to benefit, investment, complexity

•  Document what you know

•  Document what you don’t know


Strategic Business Planning -‐ Step Four -‐

Develop General Plan

•  Focus on longer term road map

•  Stretch – but don’t overwhelm

•  Priori.ze broad ini.a.ves/changes

•  Es.mate complexity, costs, resources, implementa.on .metables

•  Break large ini.a.ves down into parts/steps

•  Delegate – appropriately and responsibly

•  Create central documenta.on/organiza.on


Strategic Business Planning -‐ Step Five -‐

Develop Specific Plan

•  Transi.on from long range plan to annual plan

•  Annual plan should reflect “Next best steps”

•  Assign roles – team approach with individual accountability

•  Consider: what?, who?, how?, when?

•  Create quarterly benchmarks where appropriate

•  Current business dynamics should be considered

•  Incorporate into annual budget

•  Reflect balance between short and long term ini.a.ves


Strategic Business Planning -‐ Step Six -‐ Execute

•  Requires ac.ve leadership

•  Establish reasonable repor.ng schedule

•  Con.nue to involve planning team – communicate with employees

•  As ini.a.ves progress and changes occur -‐ revisit original assump.ons

•  Accountability/Development/Mo.va.on – a difficult leadership balance


Strategic Business Planning -‐ Step Seven -‐

Review and Modify Process

•  Did you meet your objec.ves and achieve the results?

•  Exam how process could improve to achieve beher results

•  Eliminate unnecessary or overly .me-‐consuming steps

•  Consider whether process short-‐cuts impacted results

•  Consider further development of planning team


strategy and business planning - presentation

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