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Six Steps to Successfully Executing a Strategic Plan

58 BONEZONE March 2013 BUSINESS CRITICALSix Steps to Successfully Executing a Strategic PlanA Strategic planning process (SPP) provides a systematic way of mapping the handful of key decisions that an organization must get right in order to survive and thrive during the next several de!nition: Strategic = gaining a competitive advantage, long termPlanning = preparation for certaintyProcess = systematic approach to a conclusionThe proposed annual six-step Strategic planning process, shown in Exhibit 1 on the following page, may prove essential for those working in most corporations. It provides an oppor-tunity for senior leaders to assist in formulating a company s Strategic plan, implementing the Strategic plan and connecting strategy and implementation to a rewards , before starting the process, secure the commitment of the leadership team up front or quickly abort.

BONEZONE • March 2013 59 • Government policy assumptions and interactions • People planning assumptions Takeaway: Critically identify and openly discuss

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