Business strategy planning 2017: #1 No more ‘wash and repeat’

Don’t let your 2017 strategy planning be another year of wash and repeat

Leeds-based HR 180’s HR Consultant Sue Westhead has a vast wealth of knowledge of Business Strategy Planning built up over many years in blue chips across the globe (and still finds time to make a mean Cheese Scone.)  Sue has managed major transformation and change initiatives in leading organisations, both in the UK and globally. Sue can turn her hand to anything related to strategic, transformational change, ensuring that the detail and its application is understood and embedded. To help businesses with their planning for 2017, Sue has put together a series of 4 articles on Business Strategy Planning which we will publish through November. Want help quickly? Call Sue and the HR180 team on 0113 287 8150 for immediate assistance.

Do something different – from now to the end of the year

Most business owners want to make wise decisions but they are sometimes at a loss to identify where to begin. This is where strategic management comes into play. An important concept for business owners and managers to grasp, strategic management entails evaluating business goals, objectives and plans considering your company focus on effectiveness and efficiency. Strategic management is vitally important even on a small scale within a business. It is difficult to accomplish anything without a clearly defined set of goals for the business operation.

Why plans fail

An effective business is often one that has initiated programs and services within its structure which ensure open communication, good management and effective leadership. Take your eye off the ball of these fundamentals and you will find it difficult to manage strategically because the basic framework of goal setting and decision making are missing. This is why plans fail to get off the ground.

Your process might be missing some important ingredients. Setting up control and reporting mechanisms is important to strategic management and as part of a push!   This allows the business to make changes when they are needed and constantly monitor its own progress. It is apparent that all things today are process driven and that means all things need to be constantly improving. Put in place a regular cycle of review and if necessary re-engineer your business processes to deliver better business results.

Why is data important?

The volume of information available to us is growing rapidly, opportunities to expand insights by combining data are accelerating and bigger and better data gives businesses more panoramic views of their business environment. The ability to see what was previously invisible improves operations, customer experiences and strategy. Often companies already have data they need to tackle business problems, but management don’t know how they can use this information to make key decisions.

How is data used to support planning?

The key question to ask yourself is, “what decisions could we make if we had all the information we need?” Businesses need to get more creative about the potential of external and new sources of data and encourage a more comprehensive look at data by being specific about the business problems and opportunities they need to address.