b'The Strategic Plan:Charting a Course for Business SuccessMark Thompson, Business Advisor with AileronT he smart traveler would never strike out intovision as by company culture. Strategies that are consistent unknown territory without a plan. The sameand collaborative with your companys culture are at the holds true for successful companies. Withoutheart of an executable plan.the guiding star of a defined and rational vision and aSo, how often should a company update its plan? In plan for attaining that vision, companies risk losing theirshort, frequently. Companies that are in dynamic, highly way, particularly when times get rough. But executivescompetitive spaces should undergo the planning process who developand nurtureexecutable strategic plansannually, while companies in slower moving markets may and cultivate peer networks are better positioned to keepget by every other year. Revisiting the plan regularly is moving forward, even when the landscape shifts aroundessential to evaluate progress on strategies and to address them. new issues that arise.Developing an executable strategic plan Cultivating a network of supportFor a strategic plan to be effective, it must beBetween developing and executing on the strategic plan, executable. Anything less is an academic exercise that willthe process is a year-round endeavor. Structured peer not benefit the organization. There is an art to buildinggroups can be an enormously supportive tool by bringing an executable plan that requires a solid grasp of its mosttogether fellow travelers who can provide context to the foundational elements. challenges you are grappling with throughout this journey.The planning process begins with the mostAt its essence, a peer group consists of executives fundamental principles of your company: the vision andwho meet regularly to discuss challenges and strategies, mission. The vision is always in the future tense; it givessolicit feedback, and offer objective counsel. To be most form to what you want your company to be. In essence,effective, the peer groups should be managed by an outside it is a dream with a planthe strategic plan. The missionresource that offers a level of formality and facilitation defines what you do every day and how those activitiesthat cant be achieved on an ad hoc basis. Chambers of propel you toward the vision. commerce, trade associations and even organizations that Once the mission and vision are articulated, externalspecialize in business management are excellent partners and internal analyses are conducted. The external analysisfor developing and maintaining peer networks. Created examines the environment outside of your companyunder the right circumstances, these groups can become a and is primarily focused on seven factors: markets,constructive network for executives.competitors, demographics, the broader economy, factorsTapping into the right resourcesof production, technology and government regulations.Not sure where to begin? Theres no need to go it alone. Often, these are elements beyond your control orOrganizations such as Aileron that help businesses adapt influence. and grow can provide expert guidance in developing At a minimum, an internal analysis employs aexecutable plans and forming peer groups.By SWOT analysis to determine your companys strengths,constructing a strategic plan using proven, fundamental weaknesses, opportunities and threats. Other tools, such aselements; setting and adhering to expectations for how a key customer survey or segmentation analysis, can alsothe plan will be used; and cultivating a network of peers, be applied to validate the results of the SWOT analysis. executives will find that charting a course to attain their All of this data is then pulled together to determine ifvision is not only easier, but achievable.your companys vision is attainable and what two or threeAbout the authormake-or-break issues stand between you and that vision.Mark Thompson is a business advisor with Aileron Breaking these issues down into solvable problems yields(www.aileron.com), a nonprofit small-business the strategies that will guide your organization for the nextmanagement training institute. He applies his 14 years year or two. of experience as a CEO of a mid-sized professional These strategies will fall into three general categories:services firm to help guide clients through the strategic product superiority, customer intimacy and operationalplanning process, organizational development and other excellence. Naturally, companies need to focus on alloperational areas involved with leading a company. Mark three categories. But to be strategic, you must choose onewill present on both strategic plans and peer groups at category with which to lead. This is driven as much bythe MRCA Conference in November.www.mrca.orgMidwest Roofer 15'