Unlike almost every other area of your business, Strategic Planning probably looks pretty similar today to how it did five years ago. Meanwhile, all around us the world has rapidly changed.
Rather than T9 texting on a flip phone, we quickly voice-to-text on an iPhone. We no longer walk around the mall and window shop for what we want to buy. For many of us, every item of clothing we’ve bought in the last year has been shipped directly to our doorsteps.
And just like texting and shopping have evolved, it’s time for Strategic Planning to evolve too.
For most companies, the gap between where Strategic Planning is today and where it needs to go is only growing wider.
Challenges with Traditional Planning
Traditional planning can’t keep up with the speed of your business. Traditional planning is built annually, checked quarterly, and outdated quickly.
Traditional planning is:
Resistant to change
An annual plan is set without the flexibility to react to change or unexpected turns.
Focused on the Tactical
Time is spent focusing on what we’re doing, vs. where we’re going.
Reactive & Unstable
When plans change in traditional strategic planning, the business must react with large swings and complete pivots, rather than smaller course corrections.
Additionally, traditional planning leaves no room for innovation. Things move fast, but traditional plans can’t keep up.
You can’t predict every unexpected turn in the market, technology shifts that will happen, or where your competition will go.
If you aren’t regularly revisiting your plan or setting it up to be dynamic in nature, you’ll find yourself on your heels. This makes it much harder to pivot, leading your company to lose momentum, time, and money.
Dynamic Planning is the Answer
As we navigate ever changing market conditions, dynamic planning is a must have.
Dynamic Planning is how leading companies adapt to change, make better decisions, and move faster together.
Want to learn more about what Dynamic Planning is and how it can help your company make execution a competitive advantage? Sign up for our webinar 8 Ways to Amplify Your 2023 Strategic Plan.