MANAGEMENT

REPORTING:

STRATEGIC

PLAN REVIEW

MANAGEMENT REPORT ING: STRATEGIC PLAN REVIEW

It’s the end of the year, and yo ur organization is prepar ing to launch into the year ahead at full speed. You’re ready to p ut your best foot forward and mak e this year the best one yet, but how does all t his fit into your strategic pl an? Has your organizati onal struc ture evolve d in the las t year in a way t hat you r stra tegic pla n didn’t accou nt fo r? Has your targ et marke t shifted an d you are in the pr ocess of rebranding?

Did you fal l below yo ur ta rge ts due to fa ctor s outs ide of yo ur c ontrol?

Did your revenue skyr ocket f ar past what yo u expected?

Has your stra tegic frame work chang ed enti rel y?

It is likely that yo ur organization has shi fted in one way or another in the past year, maybe in a way you did not anticipate. If this is the case, taking s tock of your strategy annual ly is the perfect time to address these changes. If your strategic pl an does not align with the actual perfo rmance or direction of your organizati on, it is going to be that much more chal lenging for you to achieve your goals and ult imately achieve success at a high level. For years, ClearPoint has helped organizations man age t heir strategic plans efficiently and effectively, and we have seen first hand the negative impact a misaligned str ategic plan can have on an organizati on. Entering a new year offers a fresh start of sorts, so take advan tage of it. Adjust your strategic pl an if it needs adjustin g; identify how these adjustments will impac t your organization; and finally, effectively commun icate these adjustments to the rest of your division, department or team. If everyone is on the same page and wor king toward a common goal, it is much more likely that your organ ization will achieve success as a whole.

INTRODUCTION

At the end of each section we ’ve included a checklist to help your organizat ion account for each step in the strateg ic plan review. There is also a quick referen ce guide with all of the templates and checklists on the last few pages.

Through out each chapter you will find management reporting bes t practices in an orange bo x.

MANAGEMENT REPORT ING: STRATEGIC PLAN REVIEW

I

If you’d like to skip to a particular section, use t he t able of contents below:

Chapter 1: Strategic Plan Review And Refresh

Chapter 2: Managing Your Last- Ye ar An d Fut ure-Year S trat egi c Plans Simultane ousl y Chapter 3: What To Do If Y ou Are Aba ndo ning You r Current S trategic Framework Entirely

TABLE OF CONTENTS

When your organization is preparing to launch into a new year , evaluating yo ur overall strategy should be the first call to action. This n ot only means a full-on review of your big picture st rategy, includi ng your mission, vision , and values, but also a deep dive into the more granul ar aspects of your plan, incl uding objectives, measures, and i nitiatives that you may have established when you initially constructed your strategi c plan. The annual rollover is the perfect ti me to focus on th is process. If you put the time and energy into reviewing your strategy now, it will save you and the rest of your organizatio n significant time , energy, and resources in the l ong run.

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 1: STRATEGIC PLAN REVIEW AND R EFRESH

CHAPTER 1: STRATEGIC

PLAN REVIEW AND

REFRESH

Step 1: Review The Big Picture

Feeling overwhelmed? You’re not alone, but a strategy review doesn’ t have to be as challenging as you mig ht think. Our recommendation? Start big! Ask, “Is our big picture s trategy still valid?” In theory , this should be the easy part. It is a yes or no question that shouldn’t require a who le l ot of energy to answer, and nine times out of ten, the answer will be yes. Let’s say you’re taking a look at the five-year st rategic plan you began to implement over the past year. Begin by evaluating your mission, otherwise known as why you exist as an organization. Has your mi ssion evolved in any way over the past year? It’s po ssible that it has, but more often th an not your mission will remain c onstant. Every aspect of your strategi c plan should ultimately tie back to your overarching mission, and if some p art of your mission has shifted, it is important that this c hange is reflected in your strategic plan. For example, if you are a private elementary schoo l looking to expand to a high school, t his is a good time to reexamine your mission.

Next, look at your organization’s vision. This aspect of your high -l evel st rategy paints a picture of where you want to be in the future, or, for this example, where you want to be five years down the line. To keep your str ategy on track, make sure your vision is feasible, based on ambitious b ut achievable targets that will inspire and energize in dividuals at all levels of the organi zation. If you are a healthcare organ ization, your vision co uld be disrupted by a major breakthroug h in science or techn ology. Finally, address your values. What do you stand for as an organi zation? Has this chan ged in the past year? The answer is often no , but if your values have indeed shifted, be sure that this shift is captured in your strategic plan for th e years to come. Sometimes we see a shift in values as a result of some crisis that the organizati on or industry has gone thr ough, like a recogn ition of new global manufacturing s tandards (fair pay , child labor, etc.).

Where you are in your current strateg ic plan may impact how you adjust it at the annual rollover. If you are at year two of a five-year strategic pl an, your process should be different than if you are enterin g year five of a five-year plan. If you are at year two, you are still in the early s tages, so making tweaks and changes is to be expected. If you are entering into year five, tweaks and ch anges should be less significan t, although they may still be present. If you are in the final stages of your plan but have not updated it for quite some time, it is likely that some of your strategic elements wi ll need to be revised or removed, depending on how you are performing now versus how you had expected to perform. At thi s point it is p ossible that you may even need to add new objectives, measures, or initiatives that you had not considered initially , but now feel are i mp ortant to track and report on. Never theless, at these late stages you will lik ely be spending less time tweakin g details for the year ahead, and more time preparing to implement a completely new strategic pl an once you have completed that fifth year .

Where are you in your current strategic plan?

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 1: STRATEGIC PLAN REVIEW AND R EFRESH

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 1: STRATEGIC PLAN REVIEW AND R EFRESH

FACTORS THAT AFFECT A STRATEGIC PLAN

If you need to make drastic changes to your plan, it could be because of factors within or outside of your organizat ion. In ternal factor s that could affect your plan in clude organizational restruct uring such as mergers and acquisitio ns, or the unexpected success or failure of a new product or pr ocess. We have also seen external factors significantly affect strategic p lans. Some of these factors includ e:

Of course this all depends on the purpose of your org anization, but more often than not these are the five main areas that could make an impact on your high-level strateg y.

1. Economic—such as a recession. 2. Enviro nmental—such as a natural disaster. 3. Competitive—such as a competitor releasing a revolutionary new prod uct. 4. Political—such as the government taking over studen t lending. 5. Technological—such as a revolutionary breakt hrough in medical technology .

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 1: STRATEGIC PLAN REVIEW AND R EFRESH

Activity: Use this template to revie

w your

Vision, Mission, and Values

Elements

to update

Current

state

How far along

are you in your

strategic plan?

Factors A

ffecting

affecting your

strategy

Changes

VISION Still Applies 2 out of 5 years None at this level Non e

MISSION Still Applies 2 out of 5 years None at this level None

VALUES Still Applies 2 out of 5 years

Several new competitors

More emphasis on customer service

Checklist

Review missi on. Review vi sio n. Review va lue s. Review i nter nal and externa l f act ors.

Objectives

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 1: STRATEGIC PLAN REVIEW AND R EFRESH

Step 2: Review Details Of The Plan Itself

Once you have reviewed your big picture strategy, it’s time to get down to the details. While evaluatin g your big picture strategy is impo rtant, it doesn ’t mean a whole lot if you don ’t address the actual components of your strategic plan (your objectives, measures, an d initiatives). Lo oking at these details and evaluating how things have evolved since the initial creation of your s trategic plan will help ensure that each of the metrics i ncluded in your plan are not only reali stic, but also relevant.

If you need inspirati on, many organizations use P orter’s Five Forces analysi s as a startin g point. In a nutshell, this analys is draws on the five competitive forces that shape every industry, and ultimately determine th e st rengths and weaknesses of your organ ization. The five forces to consider when evaluating your strategy at the ann ual rollover include competiti on within your industry , the threat of new entrant s to your industry , the power of suppliers, the power of your customers, and fin ally the threat of substituti ons to be used in place of your product s or services. If you are interested in reading more about P orter’s Five Forces, here’s an article to get you started. When looki ng at these five fo rces, consider what has changed over the past year in those areas that relate dir ec tly to your high-level go als. Do your objectives still app ropriately address each of the forces in a realistic and relevant way? Is everything c aptured? Are you overlooki ng any aspect of the five areas? Lookin g ahead to the upcoming year,

Start with your objectives. At the annual rollover you sho uld be asking, “Do our objectives st ill capture our high-level goals as an or ganization?” The changes that you make to yo ur objectives could be as small as a word change (for example, chan ging the word “customer” to “client”), or they could be as drastic as removing an entire objective and replacing it wit h one focused on a completely different area of your o rganization. Rat her than relying on your gut, force yourself to look across various f actors and components of yo ur organizati onal model to determine where objectives need to be adjusted.

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 1: STRATEGIC PLAN REVIEW AND R EFRESH

do your objectives still align with your high-level goals in the same way as l ast year?

For each objecti ve, the outcome should be one of four opti ons. The first is that you leave it alone. If the objec tive is still valid and appro priately reflects your goals, there is no need to alter it. The second and third op tions would be to either tweak the objective in a minor way or to alter it majorly , depending on how much has shifted wi thin your organizatio n and how much you had accounted fo r that shift in your orig inal strategy. The final opt ion would be to delete the objective entirely if you no longer think it is relevant or neces sary to track. While it may take some time and effort to come to an agreement as an organization regarding which obj ec tives need to be changed and which don ’t, ensuring that your objectives appropriately reflect yo ur high-level goals will make it easier to manage and track your st rategy moving forward into the new year .

Activity: Use this checklist to review the factors influencing

your strategy refresh and to track what changes you need to

make to your objectives. List your objectives in the left column

and, together with your leadership team, validate the object

ive

or suggest changes. Once finished, review and make final

adjustments to your st

rategy.

Five Forces

Changes that could impact your current strategy

Competition New Entrants Suppliers Customers Substitution s

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 1: STRATEGIC PLAN REVIEW AND R EFRESH

Objectives

Validate Owner C hanges Increase Shareholder Value ✓

AF

Grow Number of Locatio ns X

AF

We are changing ownership of this objective as we’ve hired new employees specific to this go al.

High Employee Ownership ✓

AH

Next, focus on your measures. Just lik e your objectives, use the annual rol lover to evaluate if the measures you had in place the previous year st ill make sense going forwar d based on where your organization is to day. Given that you may have changed some objectives or goals entirely, there will be the op portunity to adjust your measures accor dingly. We have seen many changes during the adjustment pr ocess for measures. The first is that you leave the measure alone if no changes need to be made. The second is that you al ter the target of your measure, either makin g it higher or lower depending on yo ur performance in the last year (see call-out box). The third option is to change the formula for yo ur measur e, if you decide to start measuring in a different way altogether. The last option is to remove the measure if you come to the conclusio n that it is no longer relevant or necess ary to track. Typ ically these changes will be made by the leadership respon sible for your organization’s strategy, an d we sugg es t that a half-day meeting at minimum be dedicated to this process. If you’d like to tak e th is a step further—and many organizations do—scheduling an off-site meeting can be benefici al as well . The measure change template below is a great place to start when asses sing your measures.

Measures and Targets

SETTING TARGETS

When building a five-year strategic plan, for example, you will want to set targets for your measures t hat are at the plan deadline. Then you should break down the five-year target into a tar get that works fo r this year, and every year within the rest of the five-year plan. This ar ticle will help you with some tips to best build your target s.

https://www.clearpointstrategy.com/how-to-set-kpi-targets/

So why does this matter? This con cept is important to consider at the annual rollover when you are doing your s trategic plan review as you will need to evaluate whether or not your assumptions for reaching that five-year mark have changed or not. Ultimately , this will affect how you set your targets. If at the initial con struction of the strategic plan you had set an ambitious target f or one of your financial measures and you are now facing an economic recess ion, for example, your targets will undoubtedly need to be lowered.

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 1: STRATEGIC PLAN REVIEW AND R EFRESH

Activity: Si

milar to your objectives, track your changes, including

any changes to your targets, that you need to mak

e for your

measures. Check with the measure owners and leadership team

to make sure everyone is on the same page.

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 1: STRATEGIC PLAN REVIEW AND R EFRESH

Now that you have addressed both your o bjectives and your measures, it is time to focus on your i nitiatives. What will your new strategic in itiatives be in the upcoming year? Which i nitiatives can you retire , and which will you continue to track and report on after the annual refresh? When we tal k about initiatives or strategic projects, we are talking about the lon g-term p rojects that your organization is tracking. They typically have a bus iness plan, budget, and oth er resources allocated to them. These k ey projects will inevitab ly change in some way from year to year. One key piece of advice is that if you can’t tie an initiati ve directly back to one of your strategic objectives , you probably do not need to be tracking that initiative in your overall pl an. At ClearPoint, we are advocates for strateg ic alignment, and have seen firsthand how much more successf ul organizati ons are in the long run when each of their elements are fully integr ated into their st rategic plans and are link ed to organization al goals.

Initiatives

Measures

Validate

Owner

C

hanges

Revenue

✓

AF

# Customer Complaints

X

JW

Break this down into severity of complaint

Average Wage

X

AH

Show overall for company and by level in the organizatio n

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CHAPTER 1: STRATEGIC PLAN REVIEW AND R EFRESH

It is also important to remember th at your initiatives vary sligh tly from other strategic elements due to the influence of one unique element: your budget. If you no longer have the budget you di d in the previous year , or you have a higher budget now than you did before, it coul d influence your ability to execute more or fewer projects over time . Similar to your other st rategic elements, there are four possible opt ions when reviewing your initiatives at the annual rollover. The firs t option is to leave an initiative alone, which is likely the most common o utcome of the four. If the initiative is good as it is and you wish to conti nue t racking and reportin g on it in the upcoming year, leave it. The second opti on when assessing your initiat ives is that your project goals need to be readjusted. This is li ke adjusting your bus iness plan. If it is a capital project, maybe some engineering design or a different solution is proposed. Maybe during the first phase of the p roject, you realize you can accomplish different goals or the goals of your strategy have changed and t hus this initiative needs to change. The thi rd option is that detail s of your initiative such as your budget or due dates need to be shi fted, usually as a result of changes in performance that you di d not anticipate due to either intern al or external factors that may have arisen unexpectedly. The fourth option is that you d ec ide to stop or start a new project, whi ch would require you to either add in a new initiative to your plan or remove one entirely .

Initiatives

Validate

Owner

C

hanges

Create new employee training X

AH

Completed and new train- ing program is in plac e, re- moving from strateg ic plan

Create new strategy resources for customers

✓

AF

Increase social media presence

✓

AH

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 1: STRATEGIC PLAN REVIEW AND R EFRESH

Step 3: Improve Your Reports

Reporting is a cr itical aspect of strategy management. Most or ganizations pull together monthly, quarterly, and annual reports for differen t a ud iences (divisions, executives, boards/councils). The annual strategy refresh is the perfect time to make sure your reports are meeting the need s of each audience. You will need to update the reports with any new content from the exer cises above. Also, check with report recipients to see what is being used and i gnored in these reports. Y ou can revise the entire reporting pro cess. First, fix the little things. Take the time to go thro ug h your reports and update the goals, measures, and initiatives. Update any targets, ownersh ip, and oth er items that changed earl ier in the process. If you are using ClearP oint or another reporting software, this should be pretty easy. Your report will update its el f, so you won’t need to worry about fixi ng your reports if you have changed your goals, measures, and i nitiatives in ClearPo int. Now, don’t forget the opportunity to impr ove yo ur overall reporting. The best place to get started wit h this is to look at your org anization ’s reporting calendar. Ask a few questions:

Activity: Time to update your init

iatives! Use this template to

record your changes.

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 1: STRATEGIC PLAN REVIEW AND R EFRESH

How freque ntly a re you mee ting on st rate gy ? Quarte rly ? Monthly ?

Is all t he in forma tion that you p rep are use d in the meet ings?

Are the meeti ngs effec tive ?

What type s of qu esti ons do you ge t after each report and meeting ? Can t hat i nfor matio n go into the rep orts ?

Who is doing the prepa rati on, and what does this pro cess look li k e ?

Is th is e nough? T oo often ?

Are people reviewi ng th e d etailed inf orma tion or just t he summa ry inf orma tion?

How much t ime do you spe nd p reparing for each mee ting?

What about the g ener al r ep ort s truc ture? Does it l ook l ik e 1989 or 2021? Sometimes the way a report is presented cou ld make a difference.

Then look at the contents of the reports and ask a few more questions:

IS YOUR PROCESS AUTOMATED?

If there is a more efficient or automated way of carrying out this process , and you can somehow automatically generate your rep orts, you sh ould be taking advantage of t his. We’ve worked with organization s to automate their process and save 75% of the time it takes to create their reports. ClearPo int is not the only solution, b ut we do enco urage you to take advantage of some sort of management reporting software to help you get the job don e more effectively and efficiently. If you’re interested in talking with one of our exper ts to see if ClearPoint is the right option to automate your process, request a demo.

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 1: STRATEGIC PLAN REVIEW AND R EFRESH

When looking at the rep orting process you sho uld also consider how it is documented, and whether or not it is run with fidelity. Be smart, and ensur e you always have people to act as backups who c an get the job done if one person leaves or is sick. If you are relying on one or two peopl e to manage and carry out the entire reporting process, you will have nobody on deck to pick up the pieces when necessary, which wil l ultimately lead to your entire process fall ing apart. To avoid this, make sure your organization is set up in a way that, if f or some reason you lost your reporting team, your organization c ould function without s kipping a beat when it comes to executing your strategy.

Step 4: Co

mmunicate Changes To Your Organization

You’ve reviewed your strategy and updated yo ur strategic plan. Now what? Time to create that organi zational buy-in! Just because you and your team accept and underst and your new strategic plan doesn ’t mean the rest of your organization or division has full y ad opted these changes. Once you have completed the plan review the next step is to effectively commun icate changes to the rest of your organization. After all, ens uring that the strategic pl an is adopted across your organization will br ing you one step closer to staying on track with your strategy, and will ultimately help you to ac hieve yo ur high-level

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 1: STRATEGIC PLAN REVIEW AND R EFRESH

goals. There are a few ways you can effectively communicate these strategic changes, and the best way to do so will vary depending on your organi zation. One of our clients, a large financial organization based o ut of New Y or k, learned that communicati on is the key to success when it comes to implementin g a new strategic planning process. They introduced a n ew str ategic plan and the Balanced Scorecard as the framework to manage it. As an in ternational financial institution that serves over 100,000 members through out the world, they knew they needed to ensure organizati onal alignment to reach their str ategic goals. The first step? Gain support for the new strategi c plan across all levels of the organization. To do this, the organization effectively communicat ed i ts new plan and Balanced Scorecard to al l staff using videos, prog ress reports, brochures, posters, and its internal c orporate social network. On top of all that, key stakeholders were provided with discussion guides so t hey c ould continue the conversation. The strategy team distributed journals to every emplo yee that included a p rinted copy of the organizat ion’s cor porate strategy map on the inside of the cover. And when it came time to celebrate the rollout of the Balanced Scorecard, an image of thei r strategy map was imprinted onto a cak e. These integrated efforts ensured that strategy was recognized as part of the organizati on’s core culture. Communicati on is often the most overlook ed aspect of strategy, but as we have seen firsthand from this organizatio n’s success, it is absolutely cruc ial for creating buy-in and momentum when it comes to executing a new strategic plan.

Checklist

Review objectives. Review me asur es & tar get s. Review i nitiatives. Updat e report s. Communicate chan ges .

Now that you have decided on the changes you will be making to your strategy for the upcoming year , you need to determine how to handle the current strategy you have in place for the remainder of your fiscal year. What is the bes t way to manage and track these two plans simul taneously? What if you pl an on completely chan ging your measures in the new year? Should you still be tracking and reporting on your current measures unt il you switch over to the new plan? Unfortunately the answer isn’t a simple yes or no. While we cannot give you a concrete answer, we can give you tip s and tricks and best pract ices based on what we’ve seen from the way our current customers manage th e annual rollover. One of our clients, a large western ut ility, has th ei r process down to a T. As a large organization with several divisions and over 10,000 employees, it is crucial to them that their strategic planning and management proc es s does not fall by the wayside during their annual rollover. To ensure this is not the case, th ey have developed an organized and streaml ined strategic review process that allows them to effectively report on the last period befor e the rollover, whil e al so maintaining their commitment to strategy improvement for the upcomi ng year. Enter the Process Reengineer ing Team (PRT). The PRT is not only respons ible for heading the entire Clear Point process , they also act as the liaison between all other departments in regards to strategic chan ges that occur at the annual rollover. To manage this process in a streamlined and effective manner , the PRT created a uniform template that is distributed to each of the departments t oward the end of the calendar year to see what changes in t heir strategy need to be made where, while simultaneously maintaining focus on their curren t year ’s measures.

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 2: MANAGING YOUR STRATEGIC PLANS SIMULTANEOUSLY

CHAPTER 2: MANAGING

YOUR LAST-YEAR AND

FUTURE-YEAR STRATEGIC

PLANS SIMULTANEOUSLY

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 2: MANAGING YOUR STRATEGIC PLANS SIMULTANEOUSLY

The template, which is essen tially a simple Excel file, asks indivi duals from each department to fill in various element s such as name, descrip tion, what the measure is compared to, what it’s evaluated against, whether or not it s hould be entered into ClearPoint, etc. Some metrics end up getting retired, some get tweaked, and some will simply get used again. Even the metrics th at go away, however, will still be ar chived within ClearPoin t so they can be brought back and measured if need be. Once they have determined how their metrics will be changed for the upcoming year, they adjust their r ep orts and briefing books. By addressing each area of their strategic plan in an org anized and straightfor war d manner, they are able to manage both thei r current year strategy as well as their upcoming year strategic plan simultaneously , with little to no delay or declin e in performance or efficiency.

While this level of sophistication in regar d to managing a current-year and future-year strategic pl an simultaneously is impressive for any or ganization, it is especially impressive for such a large organization with so many movi ng parts. Even if your organization is significantly small er , we suggest you approach your strategy review at the annual rollover in a similar manner.

Example Template:

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 2: MANAGING YOUR STRATEGIC PLANS SIMULTANEOUSLY

So this utility reports on everything in the previous year pl an through the last month of that year, even if the p lan is changing. Followin g that lead will work well for most organizations with a stable business model because t he metri cs will typically be stab le, even if the targets change from one year to the next. On the other hand, if your strategy is changing or you have di ves ted of certain operations or decided not to proceed in some areas, you may need to stop reporting on that part of your strategy even before the end of the year. The important th ing is to implement an organized and well-thoug ht out rollover process that allows you to effectively assess which parts of yo ur strategy need to be altered for next year’ s plan.

Knowing how to manage your current- and future-year s trategic plans simultaneously is imp ortant, but what if your organ ization is ditchin g your current strategic framework altogether? We’ve seen this h appen on numerous occasions, and often this can create chaos an d distress across an org anization, ultimately leading to a decl ine in performance. We’re going to let you in on a secret, however , that we’ve learned over the years: It doesn’t have to be this way! Just because you decide to throw out your entire current management repor ting format and replace it with anot her does not mean your strategy as a whole needs to suffer. Let’s say, for example, that your organization has been using the Balanced Scorecard f ormat for the past several years, and at the annual rollover you have a new CEO or d irector who plans to launch an en tirely new strategy management framework in the upcoming year. If you are using ClearPoint or some other management reporting software, this does not mean that th e so ftware has to be thrown out along with the sco recard or discarded framework. Typically, if your organization is mai ntaining a relatively steady traject ory, you are going to con tinue to look at a common set of metrics surro unding your high- level goals. Oftentimes those hi gh-level goals relate to the following fo ur areas: financial, customer, internal processes, an d people. You will still need some way to track these metrics in an effective and streamlined manner , you just need a different framework for doing so. Your data will s till come from multiple places, and you will still have multi ple “owners” througho ut the organization.

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 3: CHANGING YOUR STRATEGIC FRAMEWORK

CHAPTER 3: WHAT TO DO

IF YOU ARE ABANDONING

YOUR CURRENT

STRATEGIC FRAMEWORK

CHAPTER 1: PRESERVING INFORMATION

CHAPTER 3: CHANGING YOUR STRATEGIC FRAMEWORK

One of the many great things about ClearPoint is that we make it easy for you to relabel and restruc ture, as well as customize and rebrand to meet your new management reporting pr ocess or framework. We work with you to realig n to your new framework and help you come up with a streamlined and effecti ve approach to rear ranging your elements within our too l. Abandoning your current strategic framework will i nevitably require a good amount of time and effort on your part to assure continued alignment ac ross your organization, but this process c an be made sig nificantly easier by not wasting any time on implementing and training your users in an entirely n ew tool.

We know that the annual rol lover process can be a challenge for many aspects of an organi zation. Our hope, however, is that by usi ng this guide, your strategic review at the end of each fiscal year will n ot only be streamlined and straigh tforward, but also thor ough and effective. We also want you to keep in mind th at we are always here to act as your par tner throughout this process. Whether you need someone to bounce ideas o ff of or you are looking for more hands-on guidance , we are here to supp ort you. Our years of experience have given us the benefit of seeing what works and what doesn’t. Our cl ients have conducted thousand s of strategic plan reviews over the years, and we’ve partnered with them to k eep them focused on their strategy. Don’t be intimidated by the strategic plan review process . We encourage you to embrace it, and turn to us for help along the way! Please reach out to us at support@clearpointstrategy.com with any questions, comments, or co ncerns. Thank you for c hoosing ClearPoin t and best of luck on your strategy execution journey!

Conclusion

REVIEW VISION, MISSION, AND VALUES:

EVALUATE INTERN

AL AND EXTERNAL FACTORS:

CHAPTER 1: PRESERVING INFORMATION

QUICK REFERENCE GUIDE

Elements

to update

Current

state

How far along

are you in your

strategic plan?

Factors affecting

your strategy

Changes

Five Forces

Changes that could impact your current strategy

Competition New Entrants Suppliers Customers Substitution s

REVIEW OBJECTIVES:

REVIEW MEASURES:

CHAPTER 1: PRESERVING INFORMATION

QUICK REFERENCE GUIDE

Objectives

Validate

Owner

C

hanges

Measures

Validate

Owner

C

hanges

Initatives

Validate

Owner

C

hanges

REVIEW INITIATIVES:

CHAPTER 1: PRESERVING INFORMATION

QUICK REFERENCE GUIDE

Update reporting calendar. Remove unneeded information from repo rts. Add new information to reports. Update structure of reports.

Decide what changes need to be communicated to whom. Create communication material s. Distribute materi als and make yourself available to answer questi ons.