Page 34 - MS Perspectives 2014 YIR

“We really don’t need to worry about them. The real focus of planning is on our
objectives and initiatives.” My follow up question might have been, “Then, why
bother?” I’m fairly certain that if I had asked this out loud that the response would
have been, “Because everybody does it!” Stated differently, Mission, Vision, and
Values are merely “boiler-plate,” customarily included because they are customarily
included!

My impression from recent discussions with leaders of companies that use this
approach is, in fact, that they are just “checking the box” of what is perceived as
best practice which, in turn, leads to them wasting time creating something that is
really of little value.

Based upon our research and experience, having a clear statement of values is
important to a company’s success (and, even more important is the effective
management of these values), but we would argue that values are not really a
foundational element of a strategic plan. Instead, how the company is going to
communicate, manage, and reinforce its values should be included in the form of
objectives and goals in the strategic plan.

How are Mission, Vision, and Values Linked to the Rest of the Strategic
Plan

Sometimes, there is very little clear linkage OR it is a struggle to identify how the
initiatives, strategies, objectives, goals, etc. that comprise the remainder of the
plan are actually linked to the mission, vision, and values.

The Solution: Create a True Strategic Planning “System” with Clear
Definitions, a Clear Purpose to Every Component, and Clear Linkages
between Components

In Management Systems’ approach to strategic planning (for in depth discussion –
click here) every concept or component is clearly defined and adds value.
Components are linked up in a specific way so as to create a true planning system
not just a set of ill-defined terms.

The first element in our strategic plans, the “Business Concept”, identifies what the
company is in the business to do – who its customer are and what the company is
focused on doing for these customers. The next element, the “Strategic Mission,”
identifies VERY CLEARLY what the company will be working to achieve over the next
three to five years. The third component, the “Core Strategy,” identifies how the
company will compete. Taken together, these comprise what we term “the business
foundation.” The remainder of our plans consist of Objectives and Goals –
organized by specific Key Result Areas for Organizational Success – that detail the
results that the company will be working to achieve (in the long- and short- term)
to promote the realization of the company’s Strategic Mission.

Having clear definitions of terms takes the ambiguity out of the plan development
process because everyone on the planning team is clear what they are working to

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