Strategic Planning and Ten-Ten Planning

Planning can be accomplished in a variety of ways. Figure 8.1 "The Planning Process (Adapted from May)" presents a typical model of the strategic planning process.Adapted from May. The mantra is an often-repeated phrase that provides the basis for the existence of the company. It is a slogan, a watchword, a byword, or a motto that breathes life into the firm's existence. The mantra is not a replacement for the mission statement. The mission statement is an overall view of the business at an abstract level. It describes what the company does and why it exists and how it satisfies customer needs. The mission statement can also include a statement reflecting whether the company will focus on product differentiation and niche markets, focus on being price-competitive, or focus on both. The mantra and the mission are rarely static but ever-changing and emerging throughout the life of the firm.

The essence of the planning process consists of looking-inside and looking-outside analysis. Analysis involves both introspection and extrospection. The internal and external organization environments are examined using a number of analytical approaches, several of which are included in Table 8.1 "Orientations of Strategic Planning Approaches". These techniques will be covered in the next section. There is a lot of confusion related to identifying goals and objectives. Many view the terms goals and objectives to be interchangeable. Goals are more abstract and broader than objectives. Objectives are generally more detailed. The important point that will be discussed in the next chapter is to identify the goals and objectives that will help support the mantra, the mission, and the value proposition over a certain time frame. The tactics are the activities the organization will use over the next 3 months to a year to reach their goals and objectives. The tactics can include timetables and schedules related to the goals and objectives. The key to the model in Figure 8.1 "The Planning Process (Adapted from May)" is that this is not a linear process. Sometimes a new mission emerges after analysis has been completed. Mission statements that change, reflect an organization that can adapt to dynamic environments.

Figure 8.1 The Planning Process (Adapted from May)

Table 8.1 Orientations of Strategic Planning Approaches

	Inter organizational focus	External competitive environments focus	Time to execute
Value and supply chain analysis	High	Low	Moderate
Porter's five force model	Low	High	Long
Resource-based framework	High	Moderate	Long
Strategy maps	High	Moderate	Long
Creating Blue Ocean markets using the strategy canvas	Moderate to high	Moderate to high	Short
SWOT analysis	Moderate to high	Moderate to high	Short

We will revisit the definitions in the next chapter and illustrate how the planning process can be streamlined and made more efficient and facilitate the development of business plans in a very short time span using the Ten–Ten planning process.