Why do strategic planning efforts so often fail? It’s a question I ponder a lot and one that I’m asked frequently by clients and business colleagues. I work with companies of all sizes and in a variety of industries on strategic planning efforts. Previously as a marketing manager/director of corporate communications in the education, energy and healthcare industries I was involved in a range of strategic planning activities from business planning to the development of marketing plans and project-specific plans.
Most of these plans are developed, reviewed, revised–and, sadly, forgotten. Here are some of the key factors that I believe contribute to the successful execution of a strategic plan — whether it’s a business plan, a marketing plan, or a project plan. The process is the same, and so are the potential pitfalls.
We recommend these best practice steps: (more…)