Shorten the Time Window of Strategic Plans

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Shorten the Time Window of Strategic Plans
Srikumar Varma, Member
Setting goals is extremely important within the strategic framework. However, understanding that the business environment changes more and faster than before, it is advisable to formulate short term annual strategies.
Due to rapid changes in technology, products have to undergo complete transformation. Also competitive products will change overnight.
Shortened product life cycles necessitate each strategy to be be evaluated the next year to bring forth yet another innovative strategy.

Shorten the Time Window of Strategic Plans
Dr Robin C Hesler
In strategic planning there needs to be both short and long term strategies, which are the major paths to reach the goals or end states of the plan.
I agree that there also need to be short term strategies and these should be multiple in that they are steps or stages of the main, long term strategies.
They should be based on decision points. When a decision point is met, one may have to take a different short term strategy/path.
This means setting up indicators so one can tell if things are changing. If that is in place one is in a position to evaluate each strategy.



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