1.ToolboxDEVELOPING A STRATEGIC BUSINESS PLAN

2. Strategic Planning is the managerial process ofdeveloping and maintaining a strategicfit between the organization'sobjectives and resources and itschanging market opportunities. Resources Strategic Fit Org ObjectivesChanging Environment 3. The Role of Strategy Strategy: CorporateCorporateOperating Mission &Business Plans ObjectivesFunctional 4. Vision and Strategy 5. Sun Tze on StrategyKnow your enemy, know yourself, and your victory will not be threatened. Know the terrain, know the weather, and your victory will be complete. 6. Strategic Marketing Marketing Strategy is a series ofintegrated actions leading to asustainable competitive advantage.John Scully 7. Corporate Mission Broad purposes of the organization General criteria for assessing the long-term organizational effectiveness Driven by heritage & environment Mission statements are increasingly being developed at the SBU level as well 8. Examples of Corporate Mission SINGAPORE AIRLINES is engaged inair transportation and relatedbusinesses. It operates world-wide asthe flag carrier of the Republic ofSingapore, aiming to provide servicesof the highest quality at reasonableprices for customers and a profit forthe company 9. Examples of Corporate Mission (contd)MARRIOTTS Mission Statement:We are committed to being the bestlodging and food service company inthe world, by treating employees inways that create extraordinarycustomer service and shareholdervalue 10. Corporate Culture The most abstract level of managerial thinking How do you define culture? What is the significance of culture to an organization? How does marketing affect culture in the organization? 11. Corporate Objectives & Goals An objective is a long-range purpose Not quantified and not limited to a time period E.g. increasing the return on shareholders equity A goal is a measurable objective of the business Attainable at some specific future date through planned actions E.g. 10% growth in the next two years 12. Strategic planningGoals / Objectives SWOT AnalysisStrategy Implementation Measurement and Evaluation 13. STRATEGIC PLANDEVELOPMENT Environmental and internal assessment Strategic definition and implications What are the major What strategy will youIndustryStrategy changes in industrypursue over the next 3dynamics andarticulation dynamics and years?implications resulting opportunities and risks?+ + What are your What will be the impact ofCompetitive Strategic competitive strengthsmajor strategic initiatives?assessmentinitiatives and weaknesses? + + How does your current What are the expectedInternalFinancial business emphasis fitfinancial returns of yourassessmentprojections with industrystrategy? opportunity and competitive + landscape? What strategic alternativesRisk/contingen-have you considered?cies & strategicalternatives 14. The Usual Business Planning HierarchyVisionMission Objectives StrategiesTactics Plans 15. Strategic Planning Many Sub PlansVision MissionObjectives Strategies Tactics PlansObjectives Strategies Tactics PlansObjectives Strategies Tactics Plans 16. Framework of a Successful Organisation 17. Business Planning and DeliveryStrategic Plan New Information BusinessPlanFeed Back Regional or Sales &IndustryMarketing Sales Plan Plan State Sales Plans 18. Vision is a Critical Driver To succeed in the long term, our businessVISION needs a vision of how we will change and Consistently Provides future improve in the future.followed anddirection measured without a vision, the people perish The vision of the business gives its energy.Expresses a Must be fully consumer It helps motivate us.communicatedbenefit It helps set the direction of corporate and marketing strategy.Is motivatingIs realistic 19. Values underpin all we do Values form the foundation of a business management style. Values provide the justification of behaviour and, therefore, exert significant influence on marketing decisions. An example is provided by BT Group - defining its values:BT's activities are underpinned by a set of values that all BT people are asked to respect: We put customers first We are professional We respect each other We work as one team We are committed to continuous improvement. These are supported by our vision of a communications-rich world - a world in which everyone can benefit from the power of communication skills and technology.A society in which individuals, organisations and communities have unlimited access to one another and to a world of knowledge, via a multiplicity of communications technologies including voice, data, mobile, internet - regardless of nationality, culture, class or education. Our job is to facilitate effective communication, irrespective of geography, distance, time or complexity.Source: BT Group plc website 20. Has the Company got a strongClear Mission? The Business Mission is important to ourPURPOSE why sales & marketingthe business exists planning It provides an outline of how the marketing plan should seek to fulfil the mission STRATEGY & VALUES & SCOPE what CULTURE what It provides a means of business are we in management evaluating and screeningand how? believes in the marketing plan; are marketing decisions consistent with the mission?STANDARDS & It provides an incentive to BEHAVIOUR therules that guide implement the marketinghow we operate plan 21. quot;Strategy is the direction and scope of an organisation over the long-term: which achieves advantage for the organisation through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfil stakeholder expectationsquot;. 22. Strategic Audit - ensuring that the Company resources and competencies are understood and evaluated Resource AuditValue Chain AnalysisCore Competence AnalysisPerformance AnalysisPortfolio AnalysisSWOT / PEST Analysis 23. Need to work within Company Resources & ConstraintsFinancial Existing Funds New Funds Physical Production Marketing Sales R&D & Technical Information Technology Human Existing Staff Future Staff Requirements Training & Development Intangible Goodwill Reputation Brands Intellectual Property 24. Objectives - Corporate & Functional Examples might include:Corporate We aim for a return on investment of at least15% We aim to achieve an operating profit of over$10 million on sales of at least $100 millionThese are objectives that We aim to increase earnings per share by atconcern the business or least 10% every year for the foreseeable futureorganisation as a whole Examples might include: We aim to build customer database of at least Functional 250,000 households within the next 12 months We aim to achieve a market share of 10% We aim to achieve 75% customer awareness ofSpecific objectives for sales & our brand in our target markets We aim to sell $2m of xyz product into ABCmarketing activitiesmarket over the next 6 months 25. Value Chain Analysis Value Chain Analysis describes the activities that take place in a business and relates them to an analysis of the competitive strength of the business. Michael Porter suggested that the activities of a business could be grouped under two headings: 1.Primary Activities - those that are directly concerned with creating and delivering a product (e.g. component assembly); and 2.Support Activities, which whilst they are not directly involved in production, may increase effectiveness or efficiency (e.g. human resource management). It is rare for a business to undertake all primary and support activities. Value Chain Analysis is one way of identifying which activities are best undertaken by our business and which are best provided by others (quot;outsourcedquot;).Linking Value Chain Analysis to Competitive Advantage What activities a business undertakes is directly linked to achieving competitive advantage. For example, if we wish to outperform our competitors through differentiating ourselves through higher quality then we will have to perform our value chain activities better than the opposition. But if we adopt a strategy based on seeking cost leadership this will require a reduction in the costs associated with the value chain activities, or a reduction in the total amount of resources used. 26. Primary Activities Primary value chain activities include:Primary Description Activity Inbound All those activities concerned with receiving and storing externally sourced logistics materials OperationsThe manufacture of products and services - the way in which resource inputs (e.g. materials) are converted to outputs (e.g. products)OutboundAll those activities associated with getting finished goods and services to buyers logistics Marketing and Essentially an information activity - informing buyers and consumers about sales products and services (benefits, use, price etc.) Service All those activities associated with maintaining product performance after the product has been sold 27. Support Activities Support activities include:SecondaryDescription Activity ProcurementThis concerns how resources are acquired for a business (e.g. sourcingand negotiating with materials suppliers) Human Resource Those activities concerned with recruiting, developing, motivating and Management rewarding the workforce of a business Technology Activities concerned with managing information processing and the Developmentdevelopment and protection of quot;knowledgequot; in a business Infrastructure Concerned with a wide range of support systems and functions such asfinance, planning, quality control and general senior management 28. Steps in a Value Chain AnalysisBreak down a market / organisation into its key activitiesAssess the potential for adding value viacost advantage or differentiation, or identifycurrent activities where a business appearsto be at a competitive disadvantage; Determine strategies built around focusingon activities where competitive advantagecan be sustained 29. Core competencies Core competencies are those capabilities that are critical to a business achieving competitive advantage. The starting point for analysing core competencies is recognising that competition between businesses is as much a race for competence mastery as it is for market position and market power. Senior management cannot focus on all activities of a business and the competencies required to undertake them. So the goal is for management to focus attention on competencies that really affect competitive advantage. Core Competencies are not seen as being fixed. Core Competencies should change in response to changes in the company's environment. They are flexible and evolve over time. As a business evolves and adapts to new circumstances and opportunities, so its Core Competencies will have to adapt and change. We need to understand what we are good and what makes us better and to hone these advantages and to develop new ones to underpin the business strategy 30. Identifying Core Competencies Prahalad and Hamel suggest three factors to help identify core competencies in any business:What does the Core CompetenceComments Achieve?Provides potentialThe key core competencies are those that enable the creation of new access to a wideproducts and services. variety of marketsMakes a significant Core competencies are the skills that enable a business to deliver a contribution to the fundamental customer benefit - in other words: what is it that causes perceived customercustomers to choose one product over another? To identify core benefits of the end competencies in a particular market, ask questions such as quot;why is the product customer willing to pay more or less for one product or service than another?quot; quot;What is a customer actually paying for?Difficult for A core competence should be quot;competitively uniquequot;: In many competitors toindustries, most skills can be considered a prerequisite for participation imitate and do not provide any significant competitor differentiation. To qualify as quot;corequot;, a competence should be something that other competitors wish they had within their own business. 31. What is Competitive Advantage? Competitive advantage is a companys ability to perform in one or more ways that competitors cannot or will not match. Philip Kotler If you dont have a competitive advantage, dont compete. Jack Welch, GE 32. Four Generic StrategiesLower Cost DifferentiationBroad Cost TargetDifferentiationLeadership ScopeDifferentiationCost FocusNarrowFocusTarget 33. Other Characteristics of Competitive AdvantageSubstantiality Is it substantial enough to make adifference?Sustainability Can it be neutralized by competitorsquickly?Ability to be leveraged into visiblebusiness attributes that will influencecustomers (Source: Strategic Marketing Management, Aakers) 34. Seeking Competitive Advantages Positions of advantage Superior customer value Lower relative total cost Performance advantages Customer satisfaction, Loyalty, Market Share, Profit Sources of advantages Superior skills & knowledge, Superior resources, Superior business process 35. WHERE TO COMPETE? Target customers and segments Which customers are you trying to target or attract? Which are you willing to serve, but will not spend resources to attract? Which would you prefer not to serve?Customers Geographical scope of business activitiesHow does the entity Geographic limits to thereach its target business? Geographiccustomers Local, regional, multi-Channels Which distribution channelsmarkets local, national, will you use? international, or global What customer segments player? can they reach? If local, which localities?Products Quality and breadth of the product line Breadth of the product line? Quality of the product line? Product bundles or a series of unrelated products? 36. Capability platform: assessment of sources of competitive advantage (1/2) Example BHPs low-cost mines Physical asset Telecomm/media company with rights Location/quot;spacequot; radio spectrumPrivilegedassets Avons representatives Distribution/sales network Coca-Cola Brand/reputation Pharmaceutical company with a quot;wonder Patent Necessary drug capabilities in order to quot;Favored nationquot; status with a key Relationship with quot;licensequot; succeed in allocator minister in liberalizing economy the industry 3M with new products Innovation McDonalds with QSC&V Cross-functionalDistinctive coordinationcompetencies J&J with branded consumer health products Market positioning Emerson Electrics Best Cost Producer Cost/efficiency program management P&G brand management program Talent development 37. Extremely relevant Capability platform: assessment ofSomewhat relevantsources of competitive advantage (2/2)IrrelevantSegmentsBU OverallABCPhysical asset Location/quot;spacequot; Privileged assets Distribution/sales network Brand/reputation NecessaryPatent capabilities in order toRelationship with quot;licensequot; succeed in theallocator industryInnovation Cross-functionalcoordination Distinctive competenciesMarket positioning Cost/efficiencymanagement Talentdevelopment Step 2: Assess your overall position relative toStep 1: Ensure that these are the the capabilities required to succeed in the industry.capabilities required to succeed in the Also, determine if these capabilities are relevant toindustry. Use this list as a thought the segments you servestarter, add and delete as you seeappropriate 38. Competitor capability comparisonCompetitors BU Overall A B C Physical asset Location/quot;spacequot;Privileged assets Distribution/sales network Brand/reputation Necessary Patent capabilities in order to Relationship with quot;licensequot; succeed in allocator the Innovation industry Cross-functional coordinationDistinctivecompetencies Market positioningCost/efficiency management Talent developmentStep 3: Compare the strengths and weaknesses of your competitive position vs. the necessary skills 39. Porters 5 Forces of Competitive Position DiagramNew MarketEntrantsSupplier Competitive Buyer Power Power Rivalry Product &Technology Development 40. Porter 5 Forces 41. Porters 5 Forces of Competitive Position version #2 42. Porters 5 Forces of Competitive Position #3 Entry Barriers Economies of Scale Brand Identity Rivalry Determinants Capital Requirements Industry Growth Fixed CostsNewProduct Differences Entrants Determinants of Supplier PowerBrand Identity Switching Costs Exit Barriers Supplier Volume Impact Forward IntegrationIndustry CompetitorsSuppliersBuyers Intensity of Rivalry Determinants of Buyer PowerBuyer Concentration Determinants ofBuyer Volume Substitution ThreatBackward Integration Relative Price PerformanceSubstitutes Switching Costs 43. Forces at work framework2. Determinants of barriers to entry 1. Determinants of supplier power Economies of scale Differentiation of inputs Proprietary product differences Switching costs of suppliers and firms in the Brand identityindustry Switching costs Presence of substitute inputs Capital requirements Supplier concentration Access to distribution Importance of volume to supplier Absolute cost advantages Cost relative to total purchases in the industry2. New entrants Proprietary learning curve Impact of inputs on cost or differentiation Access to necessary inputs Threat of forward integration relative to threat Proprietary, low-cost product designof backward integration by firms in the industry Government policy 5. Industry competitors Expected retaliation 1. Suppliers 3. BuyersIntensity of rivalry3. Determinants of buying power Bargaining leverage 5. Rivalry determinants Buyer concentration vs. firm Industry growth Fixed (or storage) cost/value addedconcentration 4. Substitutes Buyer volume Intermittent overcapacity Buyer switching costs relative to firm Product differences Brand identity switching costs4. Determinants of Buyer information Switching costs substitution threat Ability to backward integrate Concentration and balance Relative price performance of Substitute products Informational complexity substitutes Pull-through Diversity of competitors Switching costs Price sensitivity Corporate stakes Buyer propensity to substitute Price/total purchases Exit barriers Product differences Brand Identity Impact on quality perception Buyer profits Decision makers' incentives 44. Ninety ways to measure demand (6 x 5 x 3) WorldGeographical Level RegionCountry TerritoryClient Total sales Sector salesCompanys sales ProductProduct linesLevel Product configProduct items Short Medium LongtermtermtermTiming Level 45. Strategic Planning Link with Marketing PlanningBusinesses that succeed do so by creating and keeping customers. They do this by providing better value for the customer than the competition. Marketing management constantly have to assess which customers they are trying to reach and how they can design products and services that providebetter value (competitive advantage).The main problem with this process is that the environment in which businesses operate is constantly changing.So a business must adapt to reflect changes in the environment and make decisions about how to change the marketing mix in order to succeed.This process of adapting and decision-making is known as marketing planning.Key Strategic Business Marketing Regional IndustryAccountSales Plan State Plan PlanPlan Plan PlanPlan Plan 46. Strategic vs. Marketing Plans Strategic planning is concerned about the overall direction of the business. It is concerned with marketing, of course. But it also involves decision-making about production and operations, finance, human resource management and other business issues. The objective of a strategic plan is to set the direction of a business and create its shape so that the products and services it provides meet the overall business objectives.Marketing has a key role to play in strategic planning, because it is the job of marketing management to understand and manage the links between the business and the environment. Sometimes this is quite a straightforward task. For example, in many small businesses there is only one geographical market and a limited number of products (perhaps only one product!). However, consider the challenge faced by marketing management in a multinational business, with hundreds of business units located around the globe, producing a wide range of products. Keeping control of marketing decision-making in such a complex situation calls for well-organised marketing planning. 47. Key issues in strategic and marketing planning? The following questions are key in the marketing and strategic planning process: Where are we now? How did we get there? Where are we heading? Where would we like to be? How do we get there? Are we on course? A marketing plan helps to: The ability of a business to achieve profitable sales is impacted by dozens of environmental factors, many of which are inter-connected Identify sources of competitive advantage Gain commitment to a strategy Get resources needed to invest in and build the business Inform stakeholders in the business Set objectives and strategies Measure performance 48. Situation Analysis Internal Analysiscompany; capability etc. External Analysiscustomers, market definition, industry structure SWOT Analysis Strengths, Weaknesses, Opportunities & Threats Identify & prioritize major problems and opportunities: selection of key issues Based on the firms core competencies, decide on future options 49. SWOT Internal Environment StrengthsWeaknesses World class product Technical support Financial resources Internal processes Know-howChannels networkExternal Environment OpportunitiesThreats Water & Energy crises Competitors market share Environment awareness Euro X Dollar Productivity improvementTechnology development 50. SWOT ANALYSIS Opportunities/Threats How are demand and supply expected to NEUTRALIZE evolve? THREATS How do you expect the industry chain economics to evolve? What are the potential major industry discontinuities?YOUR What competitor BUILD ON CONVERTBUSINESS actions do you expect? STRENGTHSOPPORTUNITIES Strengths/ Weaknesses What are your BUsSurfaces potential assets/competenciesADDRESS opportunities/threats arising that solidify your WEAK- from factors external to the competitive position?NESSES business What are your BUs assets/competencies that weaken your competitive position?Can be used as a thought starter for competitiveanalysis and internalassessment 51. SWOT Analysis is still a useful Tool 52. TOWS matrix StrengthsWeaknesses OpportunitiesS-O strategiesW-O strategies ThreatsS-T strategiesW-T strategies S-O strategies pursue opportunities that are a good fit to the companies strengths. W-O strategies overcome weaknesses to pursue opportunities. S-T strategies identify ways that the firm can use its strengths to reduce its vulnerability to external threats. W-T strategies establish a defensive plan to prevent the firm's weaknesses from making it highly susceptible to external threats. 53. PEST analysis A scan of the external macro- environment in which the company wants to operate (or operates) and can be expressed in terms of the following factors: Political Economic Social Technological 54. PEST Analysis - market, business, proposition, etc. POLITICALECONOMIC ecological/environmental issueshome economy situation current legislation home markethome economy trends future legislation overseas economies and trends European/international legislation general taxation issues regulatory bodies and processestaxation specific to product/services government policiesseasonality/weather issues government term and change market and trade cycles trading policies specific industry factors funding, grants and initiativesmarket routes and distribution trends home market lobbying/pressure groups customer/end-user drivers international pressure groupsinterest and exchange rates wars and conflictinternational trade/monetary issuesSOCIAL TECHNOLOGICAL lifestyle trends competing technology development demographics research funding consumer attitudes and opinionsassociated/dependent technologies media viewsreplacement technology/solutions law changes affecting social factors maturity of technology brand, company, technology image manufacturing maturity and capacity consumer buying patterns information and communications fashion and role modelsconsumer buying mechanisms/technology major events and influencestechnology legislation buying access and trends innovation potential ethnic/religious factors technology access, licencing, patents advertising and publicityintellectual property issues ethical issues global communications 55. PEST or SWOT A PEST analysis most commonly measures a market; a SWOT analysis measures a business unit, a proposition or idea. Generally speaking a SWOT analysis measures a business unit or proposition, whereas a PEST analysis measures the market potential and situation, particularly indicating growth or decline, and thereby market attractiveness, business potential, and suitability of access - market potential and 'fit' in other words. PEST analysis uses four perspectives, which give a logical structure, in this case organized by the PEST format, that helps understanding, presentation, discussion and decision- making. PEST analysis can be used for marketing and business development assessment and decision-making, and the PEST template encourages proactive thinking, rather than relying on habitual or instinctive reactions. 56. Structure-conduct-performance (SCP)model IndustryProducers ExternalS CPtructureonduct erformanceshocks Feedback TechnologyEconomics of demand Marketing Finance Availability of substitutes Pricing Profitabilitybreakthroughs Changes in Differentiability of products Volume Value creation Rate of growth Advertising/promotiongovernment Technological progress Volatility/cyclicality New products/R&Dpolicy/regulations Employment objectives Domestic Distribution Economics of supply International Concentration of producersCapacity change Import competition Expansion/contraction Diversity of producers Entry/exit Fixed/variable cost structure Acquisition/merger/ divestiture Capacity utilizationVertical integration Entry/exit barriers Forward/backward integration Vertical joint ventures Industry chain economics Bargaining power of input Long-term contracts suppliers Internal efficiency Bargaining power of customers Cost control Logistics Process R&D Organization effectiveness 57. Definition of risks Definition Risk of loss due to changes in industry and competitive Business riskenvironment, as well as shifts in customer preferences Risk due to changes in regulatory environment (e.g. Regulatory riskderegulation) Risk due to major changes in technology Technology risk Risk of failures due to business processes and Integrity risk operations or peoples behavior, either intentional (e.g.fraud) or unintentional (e.g. errors) Risk of loss due to changes in the political, social, or Macroeconomiceconomic environments risk 58. Management Management, control and evaluation 59. Five disciplines Peter Senge Personal Mastery: Aspiration involves formulating a coherent picture of the results people most desire to gain as individuals, alongside a realistic assessment of the current state of their lives today. Learning to cultivate the tension between vision and reality can expand people's capacity to make better choices, and to achieve more of the results that they have chosen. Mental Models: Reflection and inquiry skills is focused around developing awareness of the attitudes and perceptions that influence thought and interaction. By continually reflecting upon, talking about, and reconsidering these internal pictures of the world, people can gain more capability in governing their actions and decisions. 60. Five disciplines Peter Senge Shared Vision: Establishes a focus on mutual purpose. People learn to nourish a sense of commitment in a group or organization by developing shared images of the future they seek to create, and the principles and guiding practices by which they hope to get there.Team Learning: Group interaction. Through techniques like dialogue and skillful discussion, teams transform their collective thinking, learning to mobilize their energies and actions to achieve common goals, and drawing forth an intelligence and ability greater than the sum of individual members' talents. 61. Five disciplines Peter Senge Systems Thinking: People learn to better understand interdependency and change, and thereby to deal more effectively with the forces that shape the consequences of our actions. Systems thinking is based upon a growing body of theory about the behavior of feedback and complexity - the innate tendencies of a system that lead to growth or stability over time. To help people see how to change systems more effectively and how to act more in tune with the larger processes of the natural and economic world. 62. Project management - processes 63. Project management a process 64. Project management process chain 65. Project management risk analysis 66. Success Keys - DeploymentDeployment - Completing the Plan SuccessFailure >Assign roles and responsibilities>No accountability for deployment>Establish priorities >Too many goals, strategies, or objectives - no apparent priority>Involve mid-level management as>Plan in a vacuum-functional focus active participants>Think it through - decide how to >No overall strategy to implement manage implementation>Charge mid-level management with >Make no attempt to link with day-to-day aligning lower-level plansoperations>Make careful choices about the >Not being thorough-glossing over the contents of the plan and form it will details take 67. Success Keys - CommunicationDeployment - CommunicatingSuccessFailure Assign roles and responsibilities No accountabilityCommunicate the plan constantly Never talk about the plan and consistentlyRecognize the change processIgnore the emotional impact of change Help people through the change process Focus only on task accomplishment 68. Success Keys - ImplementationImplementing - ISuccess Failure Assign roles and responsibilities No accountabilityInvolve senior leadersDisengagement from processDefine an infrastructureUnmanaged activityLink goal groupsFragmented accomplishment of objectives leads to sub-optimizationPhase integration ofForce people to choose between implementationimplementation and daily work; too actions with workload many teamsInvolve everyone within the No alignment of strategies organization 69. Success Keys - Implementation Implementing - IISuccessFailure Allocate resources forFocus only on short term need for implementationresourcesIgnore or avoid change Manage the change process No measurement system Evaluate results Hide mistakes/lay blame; Share lessons learned;limited/no communication acknowledge successes through open and frequent communication 70. Success Keys - MeasurementStrategic Measurement - I SuccessFailure Assign roles and responsibilitiesNo accountabilityUse measurement to understandSub-optimization: focus only on the organization efficienciesUse measurement to provide a Use measures that provide no real consistent viewpoint from which to information on performance; use gauge performancetoo many measuresUse measurement to provide anUse measurement to focus on the integrated, focused view of thebottom-line only future 71. Success Keys - Measurement Strategic Measurement - II SuccessFailure Use measurement to communicate Use measurement to control policy (new strategic direction)Update the measurement system Never review measuresUse measurement to provideFail to use measurement to make quality feedback to the strategic strategic, fact-based decisions; use management processonly for control 72. Success Keys - EvaluationEvaluationSuccessFailure Assign roles and responsibilitiesNo accountabilityRecognize when to update the planPoor timing and not recognizingexternal forcesModify strategic planning process to Rigid application of strategic accommodate the more matureplanning process; ignore lessons organization learned from previous efforts Ignore impact of new leaders Incorporate new leaders into the strategic planning processDon't use measurement Integrate measurement with strategic information planningShortcut the process Use experienced strategic planning facilitators 73. Best Companies Spend more timeon Forward Planning than HistoricalAnalysis Achieving Agility Through a New Approach to Forecasting In todays turbulent economy, rolling forecasts are proving to be an important new tool in changing the way budgeting and planning has traditionally been handled. Mary Brandel 74. Benefits of Rolling Forecasts