Build a successful strategic plan for your function
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56% of the time spent on strategic planning is wasted
All corporate functions do strategic planning, but few do it well. All too often, concerns about meeting short-term targets, fear of failure, and a preoccupation with operational issues overwhelm aspiration.
Most companies are now pursuing strategies that have a greater risk of failure, and often involve business model change that creates a complex set of coordinated changes across the business.
Green-light your best cost optimization initiatives
As you develop your functional strategic plan, make sure to think less about cutting costs and more about cost optimization. This strategic approach to cost management protects key sources of business value.
Use our decision framework to gain a clear understanding of the relative cost, risk, time and benefits of potential cost optimization initiatives.
Many executives lack a coherent roadmap for creating their strategic plan
As enterprise strategy evolves, functional leaders are challenged to reset priorities, manage trade-off decisions and minimize the costs of change, while continuing to identify and commit to new growth opportunities.
Establish whether you have the right capabilities and resources to support enterprise strategic execution while taking advantage of your functions key strengths.
Put your strategy on a page
Clarify where the functional organization is, where it is going and how it will get there. Communicate how you are adding value today and demonstrate how you plan to impact future business throughout the coming year.
Use this template to identify how the performance of your function will be measured, quantified and reported against business goals.
