Do We Need A Strategic Plan?

Do We Need A Strategic Plan?

Smart Business Thinking by Jim Whelan

"In preparing for battle, I have always found that plans are useless, but planning is indispensable." 
Dwight D. Eisenhower (1890-1969)

A common question we at Smart Business Thinking are asked is whether or not a strategic plan is really necessary. A very good question and an important one, too, for anyone working toward building a successful business.

Focus on the Eisenhower quote. It’s not the end result of a written plan that is the key ingredient. The thought process of deciding the ultimate target and how to achieve it is the way to win the battle.

So let’s think about strategic thinking (strategy) rather than a strategic plan. Strategic thinking focuses on the core purpose of the business and possible ways you can reach that objective.

I’ve had a successful business owner maintain he has never had a strategic plan. Yet when he spoke to a group about building a business, it is clear he has strategically thought through why he is in business and developed a process in his mind that is an effective strategy.

Although the plan isn’t written down, it exists in his mind and his company is following the strategy.

Returning to the question: Is a strategic plan really necessary?

Necessary? Not if we agree with General Eisenhower . But we must assume there is a strategy developed after careful consideration of the ultimate objective and includes means of achieving the goal.

Desireable? For most I believe it is. As long as it reflects the analysis and results-oriented thinking used to develop the strategy. It can be a communication tool providing all understand it is subject to revision as conditions change

Bottom Line? A strategy is the overriding impetus guiding an organization. Implementing strategy must be flexible that adjusts to current circumstances. Be careful not to get caught in the strategic plan web.

Jim is an expert business coach and a respected advisor management and financial executives. He draws on his long-term business leadership background to help CEOs grow revenue, increase profits, improve performance.