Currently, only 63% of individuals take the time to “strategize/plan” for the future of their organization or their team.

In this episode, we will explore WHY we don’t strategically plan? What is strategic planning? 

WHY DON'T WE STRATEGIZE?

• We have to look forward and not focus on the current situation.
• It takes imagination
• It is using a different set of skills that is based on the “belief” that you can reach your vision and a new future.
• We do not understand the POWER of strategy and therefore, do not see it as the powerful tool that it can be when used systematically.

WHAT IS STRATEGIC PLANNING?

1. It provides a sense of direction and outlines measurable goals.

It helps to prioritize efforts,  allocate resources,  ensure goals are backed by data and sound reasoning It guides day-to-day decisions, tracks progress and informs when its time to make change.

2. Strategic planning is an evolving process—not a one-time meeting. In a study of HBS graduates who started businesses, 93 percent of those with successful strategies evolved and pivoted away from their original strategic plans.

3. Strategic planning can come out of crisis or unexpected events. When we run into unanticipated opportunities and threats, we have to respond. Sometimes we respond successfully; sometimes we don’t. But most strategies develop through this process. 

4. Strategic planning requires time, effort, and continual reassessment. 

BENEFITS OF STRATEGIC PLANNING
1. Have one vision. Have several 'sub visions'

Create a single vision, make everyone aware of your company’s goals, how and why those goals were chosen, and what they can do to help reach them. Make sub visions so a manager doesnt make decisions on a team level that counteracts the bigger goals' efforts.  

2. Discover where the bias lives?

Here are examples of what bias looks like. Examine where they may lie in your organization.

• The tendency to select the option presented most recently because it’s fresh in your mind
• The tendency to assume the most obvious decision to be the best decision
• The tendency to select options that allow you to think, feel, and act in familiar ways 
• Confirmation bias. When seeking to validate a particular viewpoint, it's the tendency to only pay attention to information that supports that viewpoint.

 Enlist others with differing views and opinions to help look for information that either proves or disproves the idea.

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