One credit union I worked with on strategic planning was so proud of the previous year's plan, it was bound, had a fancy cover and was a document they were eager to show everyone.
Once I started breaking it down, I soon realized how this fancy document was essentially hollow and with even further exploration found barely any of the goals and objectives had even been attempted. The executive team and board were much more focused on creating a document than in creating a tool. We had plenty of work to do to really get a strategic focus that went beyond the creation of a fancy notebook.
A strategic plan as a tool is focused on taking a realistic vision and mapping out the steps to accomplishing that vision. Those steps should have a specific intent, an action or tactical plan complete with due dates, accountabilities, and a person, (a champion) in charge to drive this plan toward completion. Each area should also have a form of measurement to ensure everything is on target, is progressing well and most importantly; to identify when success is happening!
Simplified strategic planning is less about a fancy document, or a convoluted plan only someone with a doctorate in finance could understand. It's more about creating a simple, functional tool that everyone can understand, support, and dive into to make your vision a successful reality.
-- Russell
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