When Should and Organization Conduct a Strategic Planning Meeting

When Should an Organization Conduct a Strategic Planning Meeting? – October 3, 2019
By Eric Schulz, MBA

Annual strategic planning meetings are commonplace. In this scenario, the leadership team gets together once a year and gives the organization a direction for the next twelve months. However, many organizations confront situations that challenge their strategic plan. When there is a challenge to an organization’s business, this is a great time to revisit and potentially revise the strategic plan.

The choice to revisit a strategic plan in the face of a business challenge should not be made lightly. When developed well, a strategic plan should serve the organization for 3-5 years. However, certain business challenges can change the organizational elements that the strategic plan is built on. In these cases, conducting a facilitated strategic planning meeting is recommended.
The following are three instances that should prompt an organization to conduct a strategic planning meeting and revisit its strategic plan.

The Organization is going through a significant leadership change.

Many of us have experienced a new leader coming into our organization and building a new strategic plan to fit their ideas and leadership style. There is nothing wrong with a new leader putting their mark on the organization’s strategy by revising the organization’s strategic plan. However, wouldn’t it be more beneficial to hire a leader that fits the organization’s strategic plan rather than the other way around? The most successful businesses build their strategic plans around the organization, not around a specific person or leader.

Imagine the caliber of leader an organization could hire if it revisited its strategic plan in preparation for the hiring process. That organization would be much more likely to bring in a leader that believed in the mission, could drive the vision, and embodied the values that the organization holds dear. Should your organization find itself in a significant leadership change, consider conducting a strategic planning meeting of the remaining leaders to polish up the strategic plan to ensure your hiring process selects a leader that reflects your strategy.

The competitive landscape around the organization is changing.

All strategic plans take the environment around the organization into account. A crucial part of that environment is an organization’s competitors. Competitors open and close critical elements of an organization’s marketplace by affecting the way an organization’s clients, customers, or members interact with it. They are a fundamental element of any well-developed strategy.

When there is a new competitor in the market or a competitor leaves, it’s a great time to conduct a facilitated strategic planning meeting. During that meeting, your organization can focus on how the new competitive landscape affects its strategic plan. Your team can make any changes to the strategic plan that are necessary to preserve the sustainability of your business.

The organization is considering partnering with a new organization.

To enter into a successful partnership, an organization must have a good handle on its strategy. What is its purpose (its mission)? What does success look like (its vision)? What is it willing to do to achieve success (its values)? Organizations with an intentionally designed and current strategic plan can accurately assess if another organization will be a strategic fit.
If your organization is entertaining a new acquisition, partnership, or merger, it is a great time to conduct a strategic planning meeting. A current strategic plan ensures your organization’s strategy is on target as it enters into discussions with its potential partner. When your strategic plan is fresh, your organization will be able to align with your potential partner behind a shared vision for the future.

The Bottom Line

A well-timed strategic planning meeting can bring clarity to an organization during times of stress and change.

• Strategic planning before hiring a new leader ensures a business hires a leader who is aligned with the organization’s strategic plan.
• Conducting a strategic planning meeting when a competitor enters or leaves an organization’s market adjusts the plan to the new competitive environment.
• Strategic planning before an organization explores a new partnership allows it to know if the partner is an excellent strategic fit.

In all three cases, a well-planned and facilitated strategic planning meeting is a great way to bring intention to the organization and align everyone behind a relevant vision for the future.

Eric Schulz is a strategist and business consultant who works with DataDx Consulting. He helps his clients bring strategic planning to life by facilitating strategic planning meetings that are outcome-focused and built to engage every participant. To learn more about how Eric can help your organization align behind a shared vision for the future, contact him at eschulz@datadx.com.