strategic plans failStrategic plans fail for a number of reasons and most relate to them being poorly prepared and poorly managed.  A such, the strategic plan should clearly outline the key objectives that are directly linked to actions, timelines, key performance indicators as well who will be responsible for managing each one. The following summarises some key actions you must take to avoid having your strategic plan fail.

  • Lead by example because if the committee of management, Chief Executive Officer and senior staff don’t support the strategic plan and believe in it then it will fail.  Hence, the need to ensure these people are involved in the strategic planning process, agree to it and lead by example in their active support and management of the strategic plan.
  • There must be a link between the items in the strategic plan and how it will be managed on a day to day basis.  As such, there must be a direct link to a business plan or staff performance plan that details the specific steps that need to occur as well as timelines to address each objective.
  • The performance of the strategic plan is monitored on a regular basis.  Often strategic plans, once they have been approved, are ignored and not referred to.  As such, the committee of management should review the achievement against the objectives on a regular basis.
  • As part of this review process there should be a good communication strategy to keep all the stakeholders up to date in relation to the progress.
  • As part of the strategic planning process there must be a budget as this will help to manage the costs and prioritise the spending and use of the funds received. 

Strategic plans should not be seen as static document that cannot change.  It is important that the strategic plan is actively monitored and reviewed to identify changes that should be incorporated such that they reflect the current and future opportunities that are reflected in revised or new objectives.

These are just some simple but effective steps that can be used to avoid having your strategic plan fail.