134 Chapter Two – Lesson One

Chapter 2: Implementation and Evaluation of Strategic Plans for Managers

 Setting the direction

Let’s start by reviewing the difference between a strategic and operational plan.

(Oh, Angel, 2023)

Now, it is important to remember that the operational plan supports the strategic plan by laying out an action plan for that particular goal or project. It can also help map out individual departments strategies for contributing. Typically, operational plans are short-term over the course of the year.

Because operational planning is broader in scope, there’s no singular recipe for an operational plan. But typically, operational plans will cover:

Goals: Lay out required tasks, goals, staffing needs, and management processes to ensure that the operational plan furthers a component of the strategic plan.

Timeline: Calendarize what needs to happen and when.

Requirements: Itemize people, processes, supplies, and technology needed to execute the operational plan.

Parameters: Outline KPIs and markers of success.

Budget: Create a budget that includes all project, task, and activity costs.

Reporting: Determine milestones for evaluation during the execution of the plan.

Implementing a strategic plan

There are many different ways to implement a strategic plan. Here is one of the seven key steps.

1. Set Clear Goals and Define Key Variables

The initial phase of the process is clear-cut: You need to pinpoint the objectives that the new strategy should accomplish. Without a clear understanding of what you intend to achieve, devising a plan to get there can prove to be challenging.

One mistake that people often make while setting their goals – whether it’s for personal development, professional expansion, or business growth – is striving for targets that are unattainable. Keep in mind that your goals need to be feasible. Establishing unrealistic objectives can leave you and your team feeling overwhelmed, uninspired, deflated, and possibly exhausted.

To avert causing low morale inadvertently, it’s essential to review the outcomes and performance of past transformational initiatives. This analysis will help you determine what is achievable with your allocated resources and timeframe. You can leverage past experiences to determine what success looks like.

In addition to defining the goals, it’s crucial to identify potential barriers that may hinder you and your team from reaching them. You need to come up with contingency plans to mitigate the risks effectively. The more prepared you are, the higher the probability of a successful implementation.

2.  Determine Roles, Responsibilities, and Relationships

Once you have identified your objectives and potential obstacles, it is essential to devise a step-by-step plan to attain them. It is crucial to set expectations among your team and communicate the implementation strategy clearly to avoid any confusion.

It can be beneficial to compile all the available resources such as employees, teams, and departments that will be involved in this process. Outline each resource’s tasks and responsibilities explicitly and establish a clear communication process that must be followed.

As a manager, building robust relationships is pivotal for implementing strategic plans smoothly. You must communicate the process of interaction, decision-making, accountability, and how to handle unexpected issues amongst your team effectively.

3. Delegate the Work

After identifying the steps necessary for success, allot tasks to suitable team members and designate clear deadlines using your original timeline and objectives. It’s crucial to communicate the company’s vision to your team and assign specific roles to each individual to avoid confusion. Additionally, it’s good practice to avoid imposing excessive pressure by implementing realistic deadlines while keeping yourself focused on achieving your goals and be wary of micromanagement.

4. Execute the Plan, Monitor Profess and Performance, and Provide Continued Support

Executing the plan involves implementing the proposed strategies and actions, ensuring that each task is carried out according to the predetermined timeline and objectives. Monitoring progress and performance involves regularly assessing the outcomes and milestones achieved, comparing them against the set goals, and making necessary adjustments to optimize effectiveness and efficiency. Providing continued support entails offering ongoing assistance, guidance, and resources to individuals or teams involved in the project, addressing any challenges or concerns that arise, and fostering an environment conducive to sustained success.

5. Take Corrective Action (Adjust or Revise, as Necessary)

The implementation process is not a one-time effort, but rather an ongoing and iterative one with the potential for mid-course changes and unforeseen challenges. As such, it’s crucial to remain vigilant, adaptable, and open to adjusting plans and goals as needed throughout the project.

Rather than sticking rigidly to preconceived ideas, it’s essential to periodically evaluate and reassess progress, asking questions such as: Do we need to pivot in a new direction? Should we make adjustments to our strategy? By doing so, you and your team can remain on track and reach your objectives efficiently.

6. Get Closure on the Project, and Agreement on the Output

To ensure success, it’s crucial for all members of the team to come to a consensus about the final product’s appearance in relation to the initial objectives. Once the plan is executed effectively, it’s essential to touch base with the team and departments to confirm that they have all the necessary resources to complete their tasks and feel satisfied with their efforts.

To keep the management team informed, gather feedback, specifics, and outcomes from team members, which allows you to present an accurate depiction of progress to the higher-ups.

7. Conduct a Retrospective or Review of How the Process Went

After completely putting your strategy into action, reflect on the process and assess its outcomes. Pose inquiries such as:

Did we successfully accomplish our objectives?
If not, what hindered us? What actions can we take to move towards attaining our goals?
What obstacles or difficulties arose during the project that were predictable? How can we prevent encountering them again?
Overall, what insights can be gained from this process?

Although a malfunctioning or unsuccessful strategy implementation is never the aspiration, it can still be an advantageous educational opportunity for a company as long as they take the time to comprehend what caused the setback and why.

The Role of Objectives and Key Results

Strategic objectives play a crucial role as they guide the prioritization of tasks, allocation of resources, determination of required capabilities, and budgeting activities. They also inform the individual and team objectives that align the efforts of all employees while shaping the marketing, operations, IT, and human resources plans for upcoming years.

To ensure employees focus on essential outcomes and track progress towards objectives more frequently, organizations may introduce Objectives and Key Results processes. Such processes can also increase transparency, accountability, inspiration, and empowerment among employees, while informing budgeting and resource allocation processes to improve overall organizational performance.

Implementation of an Operational Plan

Make sure to provide the necessary resources, such as funds for budgets, to enable your team to put the strategic plan into action. It is crucial to prioritize this as without sufficient resources, the plan cannot be achieved. To ensure your team has the resources they need, begin with a clear understanding of the end goal and the project’s objectives, deliverables, timeline, available budget, skills, and other resources. With a well-defined and easily shared project plan, implementation will be smoother.

Before executing the plan, it is vital to ensure that all decision-makers and stakeholders agree on the strategic plan to avoid second-guessing. A shared understanding of the larger strategic plan throughout the organization creates alignment and helps to evolve the strategy with new challenges and opportunities. Effective communication is critical during the planning process and beyond to maintain alignment with your colleagues.

Carry out the Strategy

An operational plan details a company’s objectives and the ways in which they can be realized. It serves as a guide to ensure that projects are executed smoothly and improves day-to-day practices. Familiarity with operational plans is essential for careers in business or operations management. This article explores the significance of operational plans in business and what they entail.

Operational plans are crucial to the success of a business mainly because they clarify the company’s objectives and provide a roadmap towards achieving them. This makes it easier for employees to understand their roles in contributing to the company’s goals hence facilitating the execution of actions that guarantee success. Moreover, a detailed operational plan enhances accountability and monitoring by ensuring that a business stays on track for a particular project timeline.

Constructing an operational plan can also reveal weak areas of the business, for example, inadequate resources to meet production targets. This realization allows the organization to identify the challenge and consider other ways of improving revenue to invest in necessary machinery for increased productivity.

An operational plan has no blueprint to follow as each business faces unique operational challenges that require customized approaches. Nonetheless, a crucial aspect to ensure success is aligning the strategic and operational plans. Here are seven essential steps to crafting an operational plan:

1. Map out business processes and workflows that lead to the realization of strategic goals.
2. Set specific operational-level goals that contribute to the end objectives.
3. Determine a timeline for the implementation of the operational plan.
4. Define the required resources for executing the plan.
5. Estimate the costs and create an operational budget.
6. Create a hiring plan to fill any skills gaps within the business.
7. Develop key performance indicators, metrics, and procedures for tracking the team’s performance towards achieving the objectives.

References

Oh, A. (2023). Strategic planning vs. operational planning: 7 main differences: Clearpoint strategy. Brand. https://www.clearpointstrategy.com/blog/strategic-planning-vs-operational-planning