Tuesday, April 7, 2009

Strategic Planning

Despite the challenging times, this year’s strategic-planning process need not be an exercise in anxiety or futility. Developing scenarios in greater depth, monitoring strategies more rigorously, and remaining focused on the long term will all help strategists boost the odds of creating plans that can lead their companies through the turbulence.

Three tips for 2009

Be realistic about scenario planning
It’s necessary to develop plans on the assumption that several different futures are possible and to focus attention on the underlying drivers of uncertainty.

Intensify monitoring
Since the effectiveness of such a strategy depends on an organization’s ability to adjust rapidly as the fog starts to lift, managers must identify and intensively monitor key indicators suggesting which scenario might unfold.

Look beyond the crisis

Strategic planning: Three tips for 2009
Even in these tumultuous times, strategic planning doesn’t have to be an exercise in anxiety—or futility.

Read the entire article on Strategic planning: Three tips for 2009 by Renée Dye, Olivier Sibony, and S. Patrick Viguerie in the The McKinsey Quarterly, the business journal of McKinsey & Company.

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