As we approach the Festive Season, it is time to schedule the mid- year review of your strategic plan.
The period between 15 January and 15 February is a common time to review progress on your plan, as second quarter financial reports are completed, and the leadership team have had the opportunity to enjoy a break and reflect on the company’s performance over the last six months.
A progress review of the strategic plan should include the following areas,
- Review financial performance for the 6 months ending 31 December 2021.
- Review success or failure of strategies implemented.
- Discuss outstanding actions at 31 December 2021, and agree new completion dates.
- From a strategic perspective, identify and discuss what has worked and has not worked in the last 6 months.
- Identify and discuss any new market trends.
- Develop new strategies and actions.
- Confirm or reset quarterly strategic priorities for March 2022 and June 2022.
- Confirm the Core Values and Purpose of the business are alive in the organisation.
- Review the team meeting schedule for the first 6 months and make any necessary amendments for the next 6 months.
- Review and confirm KPI’s for the next 6 months.
Once the review is complete, the strategic plan should be updated, and new team action accountabilities allocated.
A review of your plan may also identify weaknesses in your strategic planning process.
It is important your process is one that is relatively consistent each year.
If you would like to assess your current strategic planning process, why not use our free Diagnostic Tool at Organisational Problem Solving | Brisbane
If you do not have a strategic plan for your business; you should!
If you would like to know more, please contact us for your complimentary meeting to discuss your strategic planning needs.