8JUNE 2024OPINIONIN MYInterestingly, I get this question a lot and it's usually under the context of whether it's better to develop a three-year or five-year strategic plan. To me, it doesn't matter what time horizon a company chooses as it relates to the shelf life of a strategic plan because the answer is the same: zero - it has no shelf life!Strategic plans need to be living, breathing documents to be effective and should never be literally or proverbially placed on a shelf. To help `make it real,' there are three areas of focus that help ensure actionable strategic plans: strategic and operational planning alignment, transparent accountability, and rigorous execution.Alignment of Strategic & Operational PlanningThe overall planning cycle includes strategic and operational planning that should be aligned to increase efficiency and improve results. For organizations on a calendar year-end, I like STRATEGIC PLANNING: WHAT IS THE SHELF LIFE OF A NEW STRATEGIC PLAN?By Paul S. Young, Chief Financial Officer, Liberty Bank
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