Shockingly, 1 out of 3 business strategies fails and only about 50% of strategic initiatives are considered successful. This is a massive waste of resources and could sink a business. So why do so many strategies fail and what can …
What Comes First: Objective, Goals Or Strategy?
In business, objectives, goals and strategies are often used interchangeably when describing a company’s direction. Yet they are very different. Which one comes first – and does it really matter? When developing a business strategy, first decide your objective, i.e. …
Should Small Businesses Do Strategic Planning?
In small businesses strategic planning is often brushed aside as being too costly and time-consuming and taking too much attention away from operations. However, without a strategic plan, a business would lack the clear sense of direction it needs to …
What Should The Agenda Of A Strategic Planning Meeting Look Like?
If you have been asked to prepare the agenda of a strategic planning meeting but are not sure what to include, look no further. I have scoured over the many strategy workshops I have held to consolidate my insights into …
OGSM Example: How Tony Turns His Pizza Parlor Into An Italian Restaurant
OGSM stands for Objective, Goals, Strategies and Measures and is a one-page business plan that defines ‘what’ you aim to achieve and ‘how’ you are going to achieve it. As part of a strategy process, the framework guides through setting the objective and the goals first (the what) and then defining the strategies and measures (the how).
What is The Role Of The Facilitator In A Strategic Planning Workshop?
Good strategic plans and strong organizational commitment arise from strategy workshops that allow open, candid, and inclusive discussions. An expert facilitator can help you achieve that. The role of the facilitator in a strategy workshop is four-fold: manage the agenda …
How to Set Effective Measures to Implement Your Strategy
When using the OGSM methodology or developing any strategic plan, it is important to define strong measures that drive strategy implementation. This is how you turn your strategy into results. Measures are the M in OGSM and include key metrics …
How To Develop Strategies That Work?
Making smart strategic choices is critical for any business, particularly small businesses. But when searching online for guidance on how to develop strategies, I have been frustrated to find mostly theoretical or conceptual answers which are primarily geared towards larger …
How To Set Clear Goals For Your Strategic Plan?
During our annual planning meeting earlier this year, my team asked some really good questions about setting strategic goals and I decided to write down the answers because they vastly improved our strategic plan for this year. Here they are. …
How To Write A Great Objective For A Strategic Plan?
A great strategic plan must give clear direction to the business about where it is going and how it will get there. And this starts with a great objective statement. The objective is a written, qualitative statement describing the direction …