A guide to Vision Based Planning

When you are embarking upon the task of creating a strategic plan for your business, it is vital to be clear about your desired end point. The purpose of a business vision statement is to outline where your business will be, following the implementation of a successful strategy.

Vision based planning describes the process of a Business Management team collaborating, in order to decide upon specific business goals (and identifying any plans required in order to achieve them), taking into consideration;

  • Customers
  • The business
  • Employees
  • Suppliers
  • Shareholders
  • Personal goals

 

The process:

7-Step-Strategic-Planning-Process-300x162

 

Careful planning and execution determine the success of vision based planning. Companies who see consistent growth tend to have two things in common; a strategic operating plan that is clearly thought through and brought to fruition throughout an organisation – and a team that effectively executes critical success factors to optimal effect:

Strategy-Quadrant-300x178

 

The creation of a coherent and viable plan, with full stakeholder buy-in, can be a somewhat complex task. For the best chance of success, you will need:

  • An effective planning process
  • Well-presented data in a useful format
  • Honesty throughout the team
  • The inclusion of SMART objectives/actions:

S – specific, significant, stretching
M – measurable, meaningful, motivational
A – agreed-upon, attainable, achievable, acceptable, action-oriented
R – realistic, relevant, reasonable, rewarding, results-oriented
T – time-based, timely, tangible, track-able

Many businesses discover that the most difficult aspect of the planning process is finding sufficient time and the appropriate environment to get the right people together; however, it is vital to create time wherever needed in order to realise long-term goals.

On formulation of a vision based plan, companies must consider the best way to execute defined objectives. Ask yourself if you and your team can:

  • Identify vital critical success factors?
  • Make these factors a reality over time?

You can boost your chances of answering yes to these questions by measuring your progress – and success – with numbers. Balance objectives with resources; try to avoid creating too many objectives relative to the limited resources available, instead, create a smaller list and add to it as and when required. Link incentives to performance; employees are generally more motivated to accomplish goals if they have a reward in sight.

Make sure that all of your goals and objectives are aligned to your overall vision for business performance and create a culture of accountability. Try to stay disciplined and retain focus on objectives by measuring progress at regular intervals and holding individuals accountable for specific actions.

A full PDF version of the guide is available to Transmentum members here.

Planning and Strategy
Transmentum
About Transmentum
Transmentum are a specialist business working with growing IT, technology and software companies in the managed services industry.. With a proven track record of helping businesses to grow business revenues, profits, skills, and people, Transmentum add value to those who are building a recurring revenue model – including those who aspire to move into the Cloud or develop their own managed service propositions.