A comprehensive strategic planning process culminates in the formulation of your company’s roadmap to sustainable, profitable growth.
However, for the planning process to be successful the corporate culture needs to allow for the exploration of new ideas and encourage candid debate. In addition, everyone on the strategic planning team needs to have the right mindset.
Creating a sound strategic plan takes time, a lot of hard work and an open mind – gathering market intelligence, analyzing information, figuring out what it all means, evaluating options, making trade-offs, and so on. These are all key facets of developing a sound business strategy not to be underestimated in their importance to the outcome of the planning process.
The key obstacle to successful strategic planning has little to do with your ability to gather market intelligence or crunch numbers. It’s corporate culture that’s the main roadblock to good planning, developing a smart strategic plan, and committed implementation of the business strategy.
Obstacles to Effective Strategic Planning
Here are some personal attitudes and corporate culture elements that stand in the way of a company’s ability to develop a competitive business strategy:
- Not challenging the status-quo
- Lack of curiosity
- Unwilling to discuss sensitive issues
- Not Invented Here
- Short-term thinking
- Low tolerance for risk
- Lack of patience
- Conflict avoidance
- Lack of accountability
- Fear of failure
- Inability to listen
- Lack of creativity
This list may sound harsh, but you have to be able to look into the mirror, be self-aware and acknowledge personal and organizational shortcomings. These stand in the way of not just business strategy development but also prohibit an agile, smart, learning organization.
If you recognize some of these traits in your organization, you may have sufficient self-awareness to start breaking out of a destructive corporate culture. You’ll probably need to work with a business coach to improve the company culture and the prevalent attitudes, but at least you’ve started to acknowledge the issues.
Before you commit a lot of time, money and effort to developing a strategic plan make sure that you understand the corporate culture and how the attitudes within the organization impact its ability to start working on business strategy.
It is very important to have an environment in which anything and everything can be discussed in a candid, rational manner, without emotions getting in the way, and without fear of reprisals. If that environment is not present, any attempt at business strategy development is going to be futile. You’ll have to work on improving the corporate culture first, before you can embark on any strategic planning initiatives.
Get Ready for Business Strategy Development
So what does it take to be ready for strategic planning? Here are a number of personal and corporate culture traits that are critical to productive strategic planning (not necessarily in any order of importance):
- Open mind
- Challenge the status-quo
- Think outside-the-box
- Embrace change
- Question everything
- Candid discussions
- Know what you don’t know
- Thinking big
- Recognize shortcomings
- Ask ‘what-if’
- Big picture
- Value input from others
- Able to admit when you’re wrong
- Comfortable with uncertainty
- Committed to the long-term
What do you think? I’m looking forward to your response.