Articles

Strategic Planning

Strategic planning is imperative for sustained profitability and growth. It allows an enterprise to elucidate and evaluate market strengths and opportunities in order to properly align resources with mission statement. The mission statement must be carefully and strategically implemented to direct the company's market objective. Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue that strategy. It extends to every aspect of corporate control including human capital, finance, operations, marketing, capital investment, R&D, executive compensation, corporate governance, and intellectual property, to guide the implementation and management of the organization's strategy.

We employ a variety of analytical tools and techniques to develop a custom strategic planning model to provide a solid framework for strategic planning model. Our strategic planning model employs fundamental, technical, and financial analysis taking into account micro and macro economics. Our planning models utilize PEST analysis, Scenario planning, Porter five forces analysis, which addresses industry attractiveness and rivalry through the bargaining power of buyers and suppliers and the threat of substitute products and new market entrants, SWOT analysis, Growth-share matrix, which involves portfolio decisions about which businesses to retain or divest, Balanced Scorecards and strategy maps, which creates a systematic framework for measuring and controlling strategy. We also employ Responsive Evaluation, which uses a constructivist evaluation approach to identify the outcomes of objectives, which then supports future strategic planning exercises. We analyze our client's market standing, and help them agree on organizational targets for achieving specific short, medium, and long range goals. Our strategic planning projects encompass the following features:

Targets. We help our client define and agree on targets and assist in developing specific projects, strategies and techniques to accomplish their agreed upon goals. We then advise, assist, and guide, our clients in implementing specific projects to bring the clients business in line with their expectation. We monitor the clients progress through fundamental, technical, and financial analysis tools charting their course to better efficiency and profitability.

Best Practices.We help institute best practices when designing strategic plans for developing organizations. At Millennium we specialize in organizational change management assistance, development of coaching skills, technology implementation, strategy development, and operational improvement techniques. Millennium generally uses proprietary methodologies or frameworks to guide the identification of problems, that serve as the basis for recommendations for more effective and efficient ways of performing business tasks.

Strategic Management.Strategic management initiatives encompasses the drafting, implementation, and evaluation of cross-functional decisions that will enable an organization to achieve its long-term objectives. We take into account and specify the organization mission, vision and objectives, develop policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, then assist in allocating resources to implement policies and plans, projects, and programs to achieve these objectives. We use a variety of techniques such as balanced scorecards to evaluate the overall performance of the business and its progress towards objectives.

Strategic management is a level of managerial activity under setting goals and over Tactics. Our Strategic management techniques provides overall direction to the enterprise and is closely related to the Organization Development aspects of management. In terms of business administration practices "strategic alignment" between the organization and its environment or "strategic consistency" is extremely important. We help develop strategic consistency resulting in the actions of an organization being consistent with the expectations of management, and personnel, these in turn are consistent with the market and the context of strategic management.

Change Management. Our Change Management Practice embodies a structured approach to shifting and transitioning individuals, teams, and organizations from a current state to a desired future state. It is an organizational process aimed at empowering employees to accept and embrace changes in their current business environment. Types of Organizational Change include: 1. Organization Mission changes 2. Strategic changes 3. Operational changes (including Structural changes) 4. Technological changes 5. Changing the attitudes and behaviors of personnel.

Project Management. Our Project Management services are designed to support strategic plan initiatives through selection, implementation, and management of specific projects that bring about strategic alignment of human capital, tangible and intangible assets for specific changes in organizational culture environment, attitudes, and corporate citizenship with the following strategic plan components:

1. Benefits management and realization defining measurable stakeholder goals, creating a business case for achievement, continuously updated, and assessment of assumptions, risks, dependencies, costs, return on investment, dis-benefits and cultural issues affecting the progress of the associated strategic project.

2. Effective Communications that inform various stakeholders of the reasons for the change, the benefits of successful implementation, as well as the details of the change (when? where? who is involved? how much will it cost? etc.).

3. Design an effective education, training and/or skills upgrading scheme for the organization.

4. Counter resistance from the employees and align them to overall strategic direction of the organization.

5. Provide personal counseling if required to alleviate any change related fears.

6. Monitoring of the implementation and fine-tuning as required.

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We ensure that your organization embrace best practices for effective market leadership. With our Project Management services we provide technical implementation for all in compliance with Best Practices standards. Contact us or call us at 800-791-6962 to discuss the impact and benefits of a customized Strategic Plan for maximum organizational effectiveness.