These issues can be problems, opportunities, market shifts or anything else that is keeping you awake at night and begging for a solution or decision. Everyone that works at BBG is so nice and goes above and beyond, which is appreciated more than they know. Think carefully about your immediate target audience or area to know it’s status and demand patterns. BBG truly has top notch professionals that consistently provide excellent and proactive customer service. Begin your strategic planning process by agreeing on: It is important to focus and agree on the organization’s vision to be in three to five years or at the end of the period covered by the strategic plan. Employers, employees, and stakeholders in a company all play a pivotal role in the strategic planning process. This also gives an idea of the strategic planning process is been done and implemented in the right manner or not. Strategic planning is a process by which an organization develops a long-term vision and a plan to implement it. Once the team has identified all strengths, weaknesses, opportunities and threats, you can work together to develop new goals that will help your business face these possibilities in a more positive way. Once you have established your strategic position, you will want to bring in the people who will be involved in the planning process. By closing this banner, scrolling this page, clicking a link or continuing to browse otherwise, you agree to our Privacy Policy. We cannot say enough about their customer support, and recommend them to anybody looking for benefits consulting and insurance. I imagine they'd do very well for large businesses. Their relationship has been invaluable, and is clearly superior to systems that try to automate insurance and benefits consulting. It is essential to delegate lesser regular day-to-day responsibilities of the staff and Board members who are the key participants in developing the strategic plan. The vision describes the organization and: The development of a shared vision is best done with both Board and staff involvement and coerciveness. Everyone at BBG is knowledgeable and their willingness to make themselves available to not only our company, but our employees is unmatched. Strategic planning is crucial to the growth of any organization. Next, determine what steps you will take to accomplish these objectives. This year, with BBG's insightful advice and patient guidance, we were able to save a significant amount of money at benefit renewal time while actually improving our offerings from the prior year. Processes – methods, and strategies that are operating, and. Remarkable team of folks. We have an incredible rep who responds to our questions and concerns day or night and the technology platforms they have on offer have allowed us to streamline our HR functions to save us time and money. This field is for validation purposes and should be left unchanged. Review organizational values and operating principles as these define the organization. If you find that you are not meeting your objectives, make any necessary changes. Determine possible opportunities and challenges related to resources and financing. I also cannot imagine not having such a great broker relationship, as I know they are always looking our for our interests and make recommendations that can be helpful. Your strategic planning process will not be effective unless everyone is doing their part. Developing a strategic plan is a multi-step process and one step builds off of the other. However, yearly action plans are required. Originally, the word strategy has been derived from the Greek word, ‘strategos’ which means generalship. BBG has been terrific all around! There are organizations that follow the written values and principles guiding their decision-making process and related activities. Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results, and assess and adjust the organization’s direction in response to a changing environment. As a department of one I know I can count on them to provide me with timely and accurate customer service when I need help. They have become an integral part of our HR/Benefit strategy and an extension of our own "family oriented culture" as a company who puts this kind of service acumen and care at its forefront. Earlier this year we interviewed severally companies for benefits administration and BBG was hands down the best service and takes professionalism and service to whole nother level. I truly appreciate their dedication and expertise. The result of the environmental scan should be an analysis of organizational strengths and weaknesses and external opportunities and threats. The major emphasis should be on broad strategies, which should be related to specific goals. Couldn't be happier. I've worked with numerous benefits brokers over the years and they are second to none. The staff’s expertise lies in the implementation of plans and strategies based on policies set by the Board. Guided by the business vision, the firm's leaders can define measurable financial and strategic objectives. Strategic objectives are related to the firm's business position, and may include measures such as market shareand reputation. We have used BBG to manage our company benefits for 10 plus years now. ALL RIGHTS RESERVED. A strategic plan looks at all the things your small business could do and narrows it down to the things it is actually good at doing. Strategy is a framework of plans or methods that help and organisation to achievement of the main objective. Make sure there is an agreement on why the organization’s existence, what goals it seeks to achieve, and whom it serves. There are various approaches and action steps for strategic planning. Use the plan as a compass, but not an inflexible blueprint for action. According to Sharplin, “Strategic Management is defined as the formulation and implementation of plans and carrying out of activities relating to the matters which are of vital, pervasive or contusing importance to the total organization”. Identify actions plans to achieve the strategy 4. Ensure that any data you use is accurate so that you make informed decisions backed up by facts. Consider political, economic, social, and technological factors and their impact on your organization. Learn more about the strategic planning process and how qualified benefits consultants can help you get started with your plan. Start by making everyone involved in the plan aware of your strategy. Continue to collect new and relevant data to help with any future strategic planning that may occur. BBG is always extremely responsive and help answer any questions. Understand the factors that are necessary for the organization’s continuous success. Digital marketing, conversion rate optimization, customer relationship management & others. This process differs from the project planning process, which is used to scope and assign tasks for individual projects, or strategy mapping, which helps you determine your mission, vision, and goals. In the simplest terms, the strategic planning process is the method that organizations use to develop plans to achieve overall, long-term goals. This is a long-term strategic planning tool, so goal time frames are typically about three to five years. Working with BBG has been a game changer for our company. When identifying your strategic position, remember that your goals should be realistic and measurable. Strategic Planning Process  Strategic management is process of the regular and continuous planning, leading and analysis of all the necessary actions that help an organization to meet its goals and objectives. We have been a customer of BBG for many years, and have absolutely no complaints. A strategic planning process is designed to drive businesses in the right direction and promote the exchange of useful ideas between people with similar goals. It is a course of acti… The level of support, guidance, and assistance they provide as a broker is above and beyond. Michelle Milam is an incredible person! This requires you to constantly monitor and manage performance and tweak any components that are not leading to satisfactory results. This might be done in several ways. BBG defines excellence. Strategy Implementation 5. Know that it may be necessary to repeat the strategic management process if any corrective actions you take are not successful. It is the ultimate way to help your business reach its full potential. Mac and his team are professional, responsive, and easy to work with. Strategic planning can also help you uncover ways to improve performance in the workplace and meet your unique objectives. Strategic Planning 101. They were able to provide great benefits and cost saving for our employees as well! The strategic planning process is essentially a list of steps that managers should follow to complete and implement a strategy within a company. These steps are a recommendation, but not the recipe for creating a strategic plan. This process is known as “SWOT Analysis” that stands for: strengths, weaknesses, opportunities, and threats. They have also been scaling with our business, which has been growing by several employees every year. To ensure that your strategic plan is working, you will need to determine the best way to measure your progress. The aforementioned has been particularly appreciated during our Open Enrollment process. One of which has been summarized below. It may be useful to ask other people in your business for their input, such as employees, customers, or partners. They are all easy to work with and just made life easy. They have amazing customer service across all of their departments. Developing objectives and annual work plans require the Board’s and staff’s regular input, wherein the staff takes up program-related goals and objectives, and the Board developing goals and objectives related to governance, once the Board has defined organizational goals. 5 Step Process for Developing a Strategic Plan Step 1: Write a Vision Statement. I recommend her to everyone. This planning process helps prevent companies from aimlessly performing business tasks without set priorities or a real purpose. The development and execution of strategic plans is a well-thought-out plan performed in three critical steps: Great staff, always willing to go that extra mile to get things done for you. I would highly recommend them!! In an industry that is ever changing, BBG is consistent in their level of service. When indicated, the strategic plan must be converted into actions (i.e. We’ll even give a relevant example, so you can imagine how the strategic planning process might work at your own organization. They are very knowledgeable in their area of expertise and you can always count on them to provide the best advice/counsel regarding various applicable matters. Strategic Management Training (21 Courses, 13 Case Studies/Projects). Monitor and update plan The Board plays a critical role in reviewing progress and changing the strategies when needed; the staff generates the documentation and necessary information for this review, as well as performing timely assessment and making reports to the Board. Therefore it becomes difficult to develop particularized annual plans except for the first or perhaps the second year covered by the strategic objective. It is a course of action that is designed to reach smaller goals thus leading to the main aim of the company. So happy I made the switch to BBG! Assess current organizational performance in terms of: The committee responsible to assist the environmental scan can contact the company’s external members like suppliers, stakeholders, etc to get an external view and the staff can provide an internal assessment. Once you have your strategic plan in place, you are ready to implement it. The strategy is the sum of determining the purpose or mission and the basic long-term objectives of an enterprise and the adoption of courses of action and allocation of resources necessary to achieve these aims. Yearly program goals should be time-based and measurable, as it shows the progress made by the organization according to the plans made. Financial objectives involve measures such as sales targets and earnings growth. From managing our annual benefit renewals to the day to day customer service they provide for our team and members, every individual we interact with is extremely knowledgeable and provides excellent customer service. Regular assessments of the industry and the market to bring its business partners the best tools, strategies, resources, and expertise, are just a few of the "benefits" of BBG. If there is no agreement on general directions and organizational goals at all, it becomes necessary to find issue priorities and learn critical choices. She is also relentless in providing excellent Customer Service! Vision for the community which is viewed as your reflection of what the community would be like if your values were shared and practiced by all. The process of strategic planning is disciplined in that it raises a sequence of questions that helps organizational leadership examine experience, test assumptions, gather and incorporate information about the present, and anticipate the environment in which the organization will be working in the future. A strategic planning process is designed to drive businesses in the right direction and promote the exchange of useful ideas between people with similar goals. They are a full service firm that doesn't just sign companies up for benefit coverages, they act as a strategic advisor to determine what solutions fit best for each company's situation and demographic. The output of the planning process is a strategic plan that describes what must be accomplished and addresses a series of goals and objectives that aim to meet the defined needs. Thanks Michelle!!! The steps above are just one of the approaches to developing and implementing a strategic plan. To achieve your goals, you must first have a clear vision. Identify the purpose 2. Derek Winn, the Senior Benefits Consultant, is exceptional! Their quick responses are helpful & direct. We highly recommend BBG! Successful businesses have a plan in place and know where they are heading in the future. If there is some discrepancy about issues of the organization, it is possible to move immediately to the main objective and then goals. What can be categorically said about the planning process is that it isn’t simply about creating a plan. The key to a successful strategic plan Your strategic plan should be a living, breathing, dynamic document that you visit often, revising and tweaking as your company changes and grows. Here are some articles that will help you to get more detail about the Strategic Planning Process so just go through the link. The planning committee should determine the strategic issues from the environmental assessment, with individuals identifying issues and indicating why each of them is strategic, including the pros and cons of addressing and not addressing it. The strategic planning process is broader—it helps you create a roadmap for which strategic objectives you should put effort into achieving and which initiatives will be less helpfu… The strategic planning process is the end-to-end process of developing and implementing mission, vision, principles, goals, strategy and plans to achieve these things. Thereafter, the planning committee must always consider the reasons to properly delegate responsibilities for their implementation. Outstanding, prompt and friendly service. There are several key components that make up the strategic planning process, including common phases like strategic analysis and strategy formulation, along with implementation and monitoring. It is extremely important to divide the vision into a series of major objectives of the organization, as status statements that describe the organization. Understand what strategic planning process is and how it is done, its importance to the organization, towards providing a common vision, with agreed-upon objectives and strategies, and what steps can be taken to establish and implement a strategic plan; Examine all the costs involved in doing strategic planning, in terms of human resources, time and other resources – needed to develop an effective plan; in case of organizational instability or financial crisis or any such situation, it would not be easy or a wise decision to enter into a strategic planning process until the current problems and needs have been properly addressed; Agree upon one common procedure and set responsibilities at all levels in the strategic planning process, dedicating proper time for. A SWOT analysis can also lead you in the right direction and towards your goals. By following a strategic planning process, organizations can improve outcomes for their business and avoid taking on unexpected risks due to lack of foresight and futuristic approach. Strategic planning process requires a well-structured plan for how to optimally allocate time, human capital and financial resources. The meeting for the strategic planning process begins with a presentation of these results of the environmental assessment. However, the steps outlined below describe the basic work that needs to be done and the typical products of the process. We just recently went through open enrollment and it went incredibly smoothly. Mac, Walter and the BBG team are all top-notch folks. Today’s whiteboard video is an overview of the strategic planning process. BBG is more than an insurance broker. We highly recommend them and look forward to our continued partnership!
2020 strategic planning process