Lucidchart, the most popular online Visio alternative, is used in more than 180 countries by millions of users, from sales managers who plan target organizations to IT managers who visualize their network infrastructure. Despite the fact that only 63% of companies plan more than a year in advance, strategic planning is essential for long-term success. According to a 10-year longitudinal study by consulting firm Navalent, 61% of executives felt that they were not prepared for the strategic challenges they faced when they were appointed to senior leadership positions. Commitment to the plan is also a key factor.
Leaders who set quarterly objectives, manage crises, and reconcile budgets often consider implementing a long-term strategy a low priority. An accurate assessment of weaknesses requires analyzing external forces that may reveal new opportunities and threats. The COVID-19 pandemic has been a prime example of how massive change can occur in several sectors, altering their strategy. While it was disastrous for airline and restaurant business models, technology companies were able to seize the opportunity and address the demands of remote work. A strategy map is an effective tool for illustrating the cause-effect relationship of perspectives and connecting them to between 12 and 18 strategic objectives.
Because most people learn visually, the map provides an easy-to-understand diagram for all members of the organization that creates shared knowledge at all levels. Strategic planning helps organizations achieve their goals for the future, as well as helping people to grow and achieve their goals in a unified direction. Identifying key strategic issues involves talking to your company's executives, extracting customer information, and gathering industry and market data. These are the 5 forces (and the key questions) that determine competitive strategy for most industries. Every company should have a strategic plan, but the number of companies that try to operate without a defined plan (or at least without a clearly communicated one) may surprise you. Mural allows collaborative strategic planning through a shared digital space with an intuitive interface, a library of prefabricated templates, and methodologies based on the principles of design thinking.
The success of the plan is directly proportional to the organization's commitment to informing and involving the entire workforce in the execution of the strategy. The objectives must be distinct and measurable to help you achieve the long-term strategic goals and initiatives described in the first step. With the right action plan and a little strategic thinking, you can revitalize your business environment and start planning for success. We can't promise you'll meet the people next door, but there are opportunities for strategy professionals from all over the country to connect. Given the pace of change, strategic management is more relevant and important than ever for assigning measurable objectives and action measures. Yearly, it's important to reevaluate your priorities and strategic position to ensure that you're staying on track for long-term success.
At ClearPoint, we have developed an incredible community of people who work in the field of strategy and are happy to share their ideas. Creating a strategic plan not only provides a useful document for the future, but it also helps you define what you have now and analyze and summarize all the steps and considerations you'll need to succeed.