The steps of the strategic planning process in under 15 minutes

Here's a summary of SME Strategy Consulting's video that provides a concise overview of the strategic planning process.

1. Four Key Components: The strategic planning process is divided into four main components: Where are we now, where are we going, what obstacles might we face, and what actions are required to achieve our objectives.

2. Alignment Emphasis: The video stresses the importance of alignment in the planning process, which occurs at three levels: alignment within the leadership team, alignment with the vision and strategy, and alignment throughout the entire organization.

3. Vision Creation: Creating a clear and vivid vision for the organization is emphasized as a crucial step. A well-defined vision serves to motivate and inspire employees and stakeholders.

4. Mission and Purpose: The video discusses the significance of defining the organization's mission and purpose. This includes understanding why the organization exists, who the main customer is, and what the organization does for them. Clarity and simplicity are emphasized in this step.

5. Values and Culture: The role of values and culture in the organization is highlighted. These values represent the DNA of the organization and drive performance. They should be clearly defined and understood by all employees.

6. Identifying Risks: The video discusses the importance of identifying potential risks that might hinder the execution of the strategic plan. Risks related to leadership, communication, resources, and buy-in are mentioned.

7. Proactive Risk Mitigation: The strategic planning process involves proactive risk mitigation. This includes identifying uncertainties, assessing their impacts, determining their likelihood, and developing plans to minimize their negative effects.

8. Task and Responsibility Allocation: The video emphasizes the need to translate the strategic plan into specific tasks, roles, and areas of responsibility. This ensures that every team member understands their part in executing the plan.

9. Performance Measurement: The video introduces the concept of performance measurement through Key Performance Indicators (KPIs) and the Balanced Scorecard. These metrics help track progress and success, providing a scoreboard for employees to understand their contribution to the plan's execution.

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