Steps to successful planning for business strategies-Edward Herzstock

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Steps to successful planning for business
strategies
Edward James Herzstock
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Step 1 Develop a strategic mindset
Before you begin your functional planning
process, commit to maintaining a strategic
mentality and not allowing short-termism,
tactical execution plans, or other check the
box tasks to derail you. This includes your
approach to budgeting and expense management.
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Step 2 Outline your goals and objectives
To avoid managers and executives misinterpreting
one another and derailing the process, clearly
describe the enterprise and business context for
all stakeholders from the start. Outline each
participants duties, process timelines, and
expected outputs, especially if the planning and
budgeting procedures are cross-functional.
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Step 3 Confirm the business context
Interview company leaders and have them define
the current and desired future condition of the
business, as well as the goals and capabilities
needed to support and enable those ambitions, and
the appropriate metrics to track progress toward
those goals-Edward J. Herzstock
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Step 4 Establish goals
Create a prioritized list of objectives that
includes discrete and quantifiable stages that
indicate how each goal will be met. A few targets
with a one- to two-year time horizon can support
each strategic business goal-Edward James
Herzstock.To ensure timely fulfillment,
objectives should be explicit, measurable,
actionable, and relevant. They should also be
attached to a short-term deadline. 
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