You don’t have to be a business leader to know a thing or two about planning. We all make plans, whether mapping out a vacation, reconnecting with a friend over coffee, or setting up a doctor’s appointment. In the business world, planning plays an important role in moving an organization forward. While there’s always room for spontaneity, charging forward without some sort of blueprint is often unwise, unproductive, and even destructive.
Unlike the plans we as individuals make on a regular basis, an organizational plan must adopt a longer, incremental, more strategic view. A comprehensive strategic plan can allow an organization to soar. However, many of these plans fail to reach their full potential. Here we will explore why traditional strategic plans fail so often, and how the Entrepreneurial Operating System (EOS)® Model can help.
The Difference Between a Strategic Plan & EOS
What is a Strategic Plan?
Simply put, a strategic plan is a guiding framework that establishes priorities, goals, roles, procedures, and outcomes that will help lead an organization in the desired direction. This direction is based on the company’s vision and values. Also included in a strategic plan are methods and checkpoints for assessing the plan’s and organization’s success, and whether changes need to be made.
Where Standard Strategic Plans Go Wrong
Every good strategic plan must be propped up by a strong foundation, or else it will collapse. This foundation is the intention behind the plan, the “why.” Your company can set priorities and goals all day long, but if there is no clear, motivated, unified reason behind these efforts, they will be for nothing. In other words, the process of strategic planning should begin by reflecting on questions regarding your company’s mission, vision, and position in the marketplace.
Crafting an effective strategic plan isn’t just about asking the right questions, though, but also coming to an organization-wide consensus on the answers. When strategic plans fail, it’s often due to a lack of alignment, engagement, and/or clarity on these matters. One leader might disagree with another on the newly forming vision. Or, leaders may struggle to clearly communicate their ideas and priorities with their team and create buy-in. Ultimately, an organizational culture transformation may be required to resolve these conflicts of interest, engagement, and communication.
The Entrepreneurial Operating System® Approach
The transformation mentioned above may be achieved via the implementation of the Entrepreneurial Operating System (EOS)®. The EOS model breaks down Six Key Components™ for achieving business and strategic planning success and leadership development: Vision, People, Data, Issues, Process, and Traction®. When combined, these Components serve to establish more clarity, accountability, and engagement in your organization. This boost not only cultivates a high performance culture, but unifies your company’s vision to inform a stronger strategic plan.
How EOS Implementers™ Make a Difference
EOS Implementers™ help organizations improve their strategic planning by applying the EOS Model™ to the company’s specific needs and challenges. This particular brand of business leadership coaching helps businesses stay on the same page via 90-Minute Meetings™ to get leaders on the same page, Focus Days™ and Vision Building™ Days that introduce key terms and tools and explain their importance, and much more. All of these efforts help leaders learn and re-establish effective leadership skills that can be used to build a stronger foundation for strategic planning moving forward. When your entire organization is in agreement on its vision and priorities, you can do more than just achieve your goals.
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