Posted by Lancing Farrell
This is the sixth post in a series. Michael Mankins and Richard Steele propose an alternative model of strategic planning. They believe that strategic planning can’t influence organisation performance if it doesn’t drive decision making. And it can’t drive organisational decision making while it is focussed on individual business units and limited to an annual planning process. They describe some of the changes that organisations can make to their strategic planning to produce more, better and faster decisions.
They separate – but integrate – decision making and planning. Decisions are taken out of the planning process into a parallel process for developing strategy. Executives can identify the decisions that they need to make to create more value over time. The output of this process is a set of decision that management can codify into future business plans through the planning process. Continue reading