Strategic Planning is an evolutionary process for a company. It typically starts with a one year plan, evolving to a 5 year plan which is basically financial in nature, and defines the programs needed to support the financial plan. At some point, the competitive business environment is added; the reality of that environment then forces a more complete view of the enterprise itself, its products, its competitors, the selling environment and the customer’s expectations. The planning objective is to fully understand the competitive environment as it stands today and as it will evolve over time. This process flows into a time based operational plan that is used to dictate the direction of the company. It is a journey and not all companies are at the same point in that development. We help clients understand where they are on this journey, and how to improve their strategic efforts accordingly.
Some of the typical pitfalls many companies face are that lofty vision statements and corporate goals are not easily translated into strategic elements and operational plans. Another pitfall is the misalignment of incentives between the various functions within the organization; consequently, competing goals between those functional groups results in local optimization, at the expense of overall success at the enterprise level. The biggest pitfall is that it becomes difficult to change direction if the basic strategy assumptions no longer hold true… which usually occurs over time. If the strategic environment changes, it is then necessary to change the strategy, and that is very difficult to make happen in most companies.
Our focus is to ensure that each element of the strategy supports the overall vision and strategic objective of the company. Our typical work in strategy is an assessment of our client’s current strategy with respect to its effectiveness in the existing environment and it’s alignment to operational plans. This work is typically driven by unanticipated changes in the competitive environment that threatens the company. We help our clients define and evolve new processes that are more durable to future changes, and ensure that those processes are translated into detailed operational plans.
The Senior Management at BLMC have been helping clients with strategic planning for over 30 years, including using techniques from BCG / McKinsey / GE as well as the concepts of Strategic Intent, Core Competencies and the methodologies of PricewaterhouseCoopers. We are familiar with at least 15 different strategy methodologies to apply to the appropriate situation. We ensure that clients layout strategy execution plans that are practical and realistic to achieve.