What are the gaps in your organization's strategic plan?

All plans have gaps. You can't possibly fill them all. But you must make an honest assessment. Is the gap part of a strategic priority or not?

To achieve success in any business, strategic planning is crucial. Business leaders need to identify the strengths and capabilities of their organization, as well as its current situation and desired future state, to deliver a successful strategy. The challenge is to translate abstract strategic priorities into practical objectives. The strategy should address the question, "What are we capable of right now?" Without a clear strategy, ambitious goals become like a moonshot without coordinates for the landing zone.

Skills, technology, processes, culture, market, competition, customer needs, and results are a byproduct of human capital and the necessity of its continued investment (often a strategic gap). One of the biggest single biggest losses of resources that organizations suffer every day that is not considered in strategic development is most people are doing a second job no one is paying them for: spending time and energy covering up their weaknesses, managing other people’s impressions of them, showing themselves to their best advantage, playing politics, hiding their inadequacies, uncertainties, and limitations.

Every year and regularly, businesses must conduct an evaluation and assessment of their strategy to identify any gaps that may be hindering their achievement of targets across various aspects of their operations. Personally, I prefer using basic tools and occasionally rely on a business health assessment tool that I created for my clients.

Many strategy execution processes fail because “new strategies” are often not strategies at all but are, in fact, just goals or, worse, nebulous bullet lists. Others may represent ten or so of the firm’s priorities but fail to explain the logic behind the choices. It does not tell you what you will do but only the expected outcome.

To achieve strategic velocity in an organisation, it is essential to have a deep understanding of the critical drivers of success. This includes bringing cross-functional domain experts together to work across silos and tackle complex challenges. A clear and cohesive set of objectives is necessary to make this work. Having a long list of objectives can be confusing and difficult to understand, making it challenging to influence employee behaviour. Therefore, you need to clearly understand your objectives and how they fit together. This will help you develop an effective strategy rather than just a slide deck.

Personally, I prefer using the Balanced Scorecard, SWOT/TWOS, Pulse Surveys and occasionally rely on a business health assessment tool that I created for my clients.

I recently did a piece of work on this, combining the external PEST analysis with an inward-looking SWOT analysis. Combining the two is a powerful method to help strategic leaders take a more holistic view of their strengths and risks analysing the internal and external as one. From it I created one key priority of each section which we can create meaningful goals from.

Once the gaps are identified, strategic action plans with clear timelines, owners and project teams are formulated to not only meet the minimum business targets but also unlock their maximum potential. On a biweekly and monthly basis check-in meetings and review meetings are held to ensure no one drops the ball, sharing best practices and wins.

So, your organization's strategic plan is playing hide and seek? Classic. It's like that puzzle missing a few crucial pieces, but fear not, puzzle master! Let's Sherlock Holmes our way through this. Conduct a swanky analysis—think of it as your strategic CSI. Identify those gaps like you're finding Easter eggs at Coachella. Then, gather your squad, because closing these gaps is a team sport. Your strategy should be a masterpiece, not some abstract art with missing corners. So, engage your team, because, let's be real, no one wants a puzzle with holes in it. Close those gaps, and voila! You've just crafted the Mona Lisa of organizational strategies.

So, your organization's strategic plan has some gaps – it's not the end of the world, it's a strategic game of chess. Instead of seeing those gaps as a total bummer, flip the script and treat them like the secret weapons in your arsenal. Just like a chess pro strategically exploits the opponent's moves, leaders should embrace these gaps as the perfect setup for some epic strategic maneuvers. Craft a plan that's not just ahead of the game but practically predicting the future, and voila, you're the chess grandmaster of the corporate world, making moves others only dream of.

Knowing that gaps exist should be celebrated. It's demonstration that an organization as taking the time and energy to critically think about all areas of its plan. Only when the gap has been identified can you leverage it as a source of innovation, differentiation, and competitive advantage.

To address the gaps already mentioned organizations should conduct regular reviews, solicit feedback, and be open to adjustments. Continuous monitoring is essential for refining strategic plans.