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SNAPSHOT
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Sometimes
“process” is the missing component from a “Strategic
Planning Process.” Innolect helped a Fortune 50 team
of 70 managers logically create an “ideal business scenario.”
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Developing an Ideal Business Scenario
“Strategic
Planning” is such a common business phrase that the words can sound
humdrum. Nevertheless, the “strategic” and “planning” elements of
business management that often prove the most daunting.
To help achieve Clarity around its 3-to-5 year Plan, the President and executive leaders of a Fortune 50 global technology company engaged Innolect Associates to help refine the strategic thinking and planning process. A secondary goal was to create shared understanding and commitment to goals and strategies throughout the manufacturing organization.
Innolect Associates designed a multi-phase, highly participative
three-day event for 70 executive leaders and managers. The result
was a structured, consensus-based, participative decision making
process, in which participants:
- Brainstormed opportunities
- Developed an “ideal” future business scenario
- Considered pros and cons of specific initiatives
- Outlined an implementation plan and accountabilities
Results. Achievements attributed to the process and plan included cost savings of 22 percent over two years.
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