Duration of Ideal Strategic Planning Retreat

“Francis”, clients sometimes ask, “Why do you recommend a two-day strategy retreat?” Usually, they want to get the most from their workshop, but also don’t wish to waste a moment. After all, top executive time is quite expensive.

Assuming that your company has agreed to such a workshop, what’s the difference between one, two, or more days?

Catch up on all past columns at https://blog.fwconsulting.com

This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit longtermstrategy.substack.com/subscribe

What’s Your Business Legacy?

You don’t normally think for long about the lasting impact your actions have on unknown business colleagues. This is particularly true if they haven’t even been born. But is there a reason to consider far-future generations of leadership in your company?

Antonio Guterres, who heads up the U.N., recently wrote a letter to his unborn great-great-granddaughter…for delivery in 2100. He titled it a “Climate-Change Apology” and began with the following question: “Will you open this letter in a spirit of happiness and gratitude—or with disappointment and anger at my generation?”

He further admits that humanity is “losing the fight of our lives: the battle against climate upheaval that threatens our planet.” But why is he unsure about her reaction? Simple: today, he sees two paths ahead and doesn’t know which one we will take.

The first leads to a trail of destruction. The other trends to planetary salvation. Given the information, tools and technology at our disposal in 2023, both are possible.

At the end, he imagines her wondering quietly: “What did you do to save our planet when you had the chance?”

His commitment is familiar to all creators of interwoven short/long-term strategic plans. As facilitators, we help clients convert game-changing commitments into immediate actions. Here are three steps I employ.

  1. Use Today’s Gripes

In a typical retreat, I ask, “What are some of the complaints you have about your organisation that should have been resolved some time ago?”

This question opens a floodgate of woes. Sometimes, they stretch all the way back to the inception of the company. In fact, older heads admit that the matters being raised were mentioned in previous meetings just like this one, but never addressed.

Then we ask: “What decisions did prior executives fail to make 10 years ago that would have prevented or resolved these issues? 20 years ago? More?”

This also unleashes a torrent of suggestions. In fact, it pays to pause before proceeding.

  1. Visit the Future

We then have the team envision a strategic planning retreat like this one, but 15-years down the line. “What are some of the complaints future leaders may have regarding tough decisions you failed to make today?”

Unfortunately, this query is frequently met with horrified silence.

After a few moments of reflection, the answers come out, slowly but surely. But this is a new question for most. Managers spend their days tackling immediate issues, and don’t often take a break to consider the distant future in a structured manner.

On occasion, they may speculate over lunch or drinks, and bemoan their organisation’s collective lack of foresight. But the next day, they are back in busy-mode. “We don’t have time to do interwoven short/long-term planning!”

  1. Point Out a Young Person

Finally, if there is a colleague in their twenties in attendance, I point them out by name. “Bob is likely to be in that future retreat.”

I add, “His colleagues will ask: ‘What happened at that planning meeting in 2023? Couldn’t they see what was happening?’”

Just like Guterres, Bob could have two contrasting stories to tell.

One could be a tale of courage. “Amazing experience! The executive team put itself at risk, set aside its fears, and made some difficult decisions. Today, we benefit from their wisdom.” Everyone applauds.

The alternate story could be one of cowardice and selfishness. “They realised there was a problem looming, but they decided to focus only on the short-term issues that affected them.”

Why such a contrast?

Some strategic planning teams fail to address the most salient challenges openly. Instead, they point fingers at the “Big Man”, board, government, customers, etc.

Other teams just don’t care. Attendees are coasting into the second-halves of their careers, and just want to make it into retirement with a pension. They place self before service. So their “strategic” plans don’t look past three to five years of tactics: the outer limit of their comfort zones.

You may think these are bad people, but nothing could be further from the truth. Instead, they are simply caught in a trap whose mechanics they cannot clearly see. Consequently, they do their best, but it’s not good enough.

In the end, regardless of their motivation, the result is the same. Disaster.

Jamaican companies, like many worldwide, are currently rife with short-termism. Blame COVID. Or inflation. Or the war, etc. As such, our leaders are becoming cynical.

Don’t yield. Challenge them to leave future managers of your organisation with more than a basket to carry water. Instead, ask them to create a legacy of kindness, not in the form of cash, but in the strategic decisions only they can make.

Francis Wade is the author of Perfect Time-Based Productivity, a keynote speaker and a management consultant. To search his prior columns on productivity, strategy, engagement and business processes, send email to columns@fwconsulting.com.

What’s Your Business Legacy?

You don’t normally think for long about the lasting impact your actions have on unknown business colleagues. This is particularly true if they haven’t even been born. But is there a reason to consider far-future generations of leadership in your company?

See past columns at https://blog.fwconsulting.com

This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit longtermstrategy.substack.com/subscribe

Time to Ditch the ”Pillars” in Your Strategic Planning

You finally have time to look back at outputs from prior strategic planning retreats. A quick glance reveals an approach they used which includes “pillars”. If so, be aware: there are some drawbacks to this technique that could lead to a weak plan.

Check out past columns at https://blog.fwconsulting.com

This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit longtermstrategy.substack.com/subscribe

Time to Ditch the “Pillars” in Your Strategic Planning

You finally have time to look back at outputs from prior strategic planning retreats. A quick glance reveals an approach they used which includes “pillars”. If so, be aware: there are some drawbacks to this technique that could lead to a weak plan.

But you must make a decision about what to use going forward. You need to craft an approach, but why should you be wary? To understand why, let’s go back to the process typically followed.

It usually begins with a review of the company’s vision and mission statements. Then, a SWOT and PESTEL analysis of the environment are also done. Next, the team brainstorms projects which are necessary for the organization to achieve the vision. Finally, these projects are grouped into three to five pillars based on common themes.

The final product is often diagrammed as a building with the vision and mission statements in the roof, supported by the pillars. However, its simplicity belies the fact that there are some good reasons to use a different approach.

  1. Pillars are merely semi-random lists

A review of the contents of each pillar shows that the link between its items is tenuous. They are simply a list of activities which are nice to do, grouped together using some common attribute. Why is this a problem?

As Peter Compo says in his groundbreaking new book, “The Emergent Approach to Strategy”, anything that resembles a to-do list is not a strategic plan.

Instead, he reasons that, at the heart of an overall framework, should be a triad: an aspiration, a bottleneck and a strategy. What is the role of each element?

  • The aspiration defines the overall goal or outcome desired.
  • The bottleneck represents the primary obstacle which stands in the way of achieving your accomplishment.
  • The strategy defines the way in which the bottleneck will be “beaten” or loosened so that the aspiration is easy to achieve.

Together, these three elements form a hypothesis. It represents the most important changes the organization needs to make. Plus, it evolves as further information and experiences are gathered.

Unfortunately, the pillars approach masks this important nuance. Instead, it assumes that all you need to do is mobilize staff to execute disconnected projects. If this were so, executing strategic plans would be easy.

Instead, in the real world, planning teams need to adjust their hypotheses on the fly as technology advances, government regulations change, competitors take action, and customer tastes change. Together, these shifts force changes in the original hypothesis, a fact of life the pillars approach ignores.

  1. Pillars hide relationships

Pillars also over-simplify reality. A mere list of activities hides the fact that projects are always interconnected. But more importantly, they only produce outcomes after the correct chain of causal relationships is followed.

For example, if you are a retailer, you may believe that an Easter Sale will bring in added revenue. However, to achieve the final result, a number of other actions need to take place.

You must become effective at reaching your audience with a promotion. Also, the sale should be launched on the right day of the month to hit paydays. Finally, the season has to be ideal for shopping, as some folks restrain their “retail therapy” during Lent.

The point is that the strategy relies on a number of variables which need to work together, but are imperfectly understood. As such, success is far from assured. The pillar approach obscures this reality and over-simplifies the challenge.

The truth is that strategy is an art in which your actions (causes) are separated from the results (the effects) in time and space. Sometimes the gap can be decades long, or thousands of miles apart.

Fortunately, there are better tools to use, like strategy maps, invented by Drs. Kaplan and Norton. These diagrams preserve the connection between key activities. Furthermore, they are easy to understand and explain to other employees.

3. Pillars emphasize short-term thinking

None of the pillar-approach strategic plans I have seen take into account long-term strategies and results. Instead, they tend to be so simple that they only work for plans which are five years or less in duration.

As such, the lists of projects in each pillar don’t tell a long-term narrative or story which builds a timeline.

Without it, complex undertakings lasting several decades aren’t possible. Think of the planning it takes to build a cathedral over a span of more than 200 years, for example.

Consequently, the list of projects found in a pillar only works for short-term tactical assignments in which the sequence doesn’t matter. This is a major drawback. The technique can’t be used to produce an inspiring, monumental accomplishment.

To craft an alternate approach, read my Gleaner article from March 19th 2023, as an example.

Francis Wade is the author of Perfect Time-Based Productivity, a keynote speaker and a management consultant. To search his prior columns on productivity, strategy, engagement and business processes, send email to columns@fwconsulting.com.

Stop Treating R&D as a Luxury

You agree with the general concept of having new products and services to offer your customers. After all, a company that relies on stale stuff is likely to fail. But how do you put together an effective R&D plan when budgets are limited?

It sounds like something only the biggest companies overseas do. Most think that “Research and Development” are two luxury items to be indulged in when times are good. And Jamaica’s economy has not shown sustained GDP growth in years.

But what if R&D is just a fancy name for innovations you cannot afford to delay? Sadly, some only realise this in retrospect. Today, they are out of business because they failed to abandon old, obsolete thinking. How can your firm ensure that it doesn’t destroy value because it’s too slow to learn?

  1. Be Hyper-Curious About the End

Most of us remember when videotape rental companies did a booming business. To most, this appeared to be a great niche, with guaranteed traffic every weekend.

I happened to live in the US when Netflix arrived, offering the chance to rent a DVD by mail. Initially, it was inconvenient to send items through the post. Compared to renting a video from Blockbuster, it took longer and stuff could get lost.

Apparently Netflix agreed and tried to sell itself to Blockbuster…who literally laughed as they left in embarrassment.

A few years later, after they closed 9,000 stores, the smiles were replaced by tears.

In retrospect, it was all very obvious to see what was happening. Today, we shake our heads at their arrogance in disbelief. But are you committing the same mistake in your organisation?

If you accept the fact that it’s just a matter of time before your industry is disrupted, congratulations. You are ahead of the game. Consider that, in your company, a short-term plan, by itself, may not go far enough to show that the clock is ticking.

If you are really curious, you should have a plan for exiting each major line of business. Create a deadline date: the moment when you intend to earn your last dollar from the pertinent product or service.

Alongside this doomsday prediction should be a plan to launch a new category of product or service. Where should these timelines come from? Your long-term R&D plan, of course.

For example, immediately after making a record year of profits in 2000, Fuji Film’s research showed it had a 10-15-year end-game. Kodak also had fantastic sales, but was never curious enough about the future to take the right actions. Consequently, Fuji thrives in a whole different industry. Kodak is just a single tiny business, having destroyed an estimated US$9 billion of value.

  1. Allow Competing Alternatives in Your Planning

How should your company determine these choices?

In your next strategic planning session, ensure that you permit attendees to propose various visions of the future. (If team-members share the same age, gender and background, consider that to be an impediment.)

You want different points of view to emerge for your “Vision 2040”, for example. First, make sure you are all starting with the same facts. Then, invite advocates to describe their preferred future. Even if it makes others uncomfortable. Get them to share details as they paint a vivid picture and draw fellow participants in to expand it.

Do not squelch your colleagues.

When you have a number of candidate futures, stand back collectively and assess them, because it’s time to choose which one(s) to pursue.

In this moment of truth, you should be scared witless. Why? You could easily and unwittingly fall into the path of more videotapes. Or film.

In other words, you could doom your company. Or save it. Agonize if you will, but understand that your decision cannot easily be reversed. It’s just not the kind of choice that can be revisited whenever the breeze changes direction.

  1. Decide and kill off alternatives

Instead, treat this moment of selection as a final verdict which will assign time, money, manpower and other corporate resources. You are making a bet which has an unsure outcome, but understand that the team must be willing to stand by its selection.

However, this means that if major assumptions change, then it’s your duty to revisit the plan. But this should be rare.

Blackberry needed to do this when the iPhone turned out to be a serious threat, for example. Only a dose of humility would have saved it from obsolescence.

Unfortunately, this advice isn’t easy to take. Most shy away from the kind of hard conversations required until it’s too late.

Don’t disappoint your shareholders, employees, suppliers, pensioners, and other stakeholders by being slow or cowardly. Instead, make the difference by investing in your organisation’s future.

Francis Wade is the author of Perfect Time-Based Productivity, a keynote speaker and a management consultant. To search his prior columns on productivity, strategy, engagement and business processes, send email to columns@fwconsulting.com.

Stop Treating R&D as a Luxury

You agree with the general concept of having new products and services to offer your customers. After all, a company that relies on stale stuff is likely to fail. But how do you put together an effective R&D plan when budgets are limited?

 

For past columns see https://blog.fwconsulting.com

This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit longtermstrategy.substack.com/subscribe

Planning for Profits vs. People vs. Purpose

You need to add a widget, row, or prebuilt layout before you’ll see anything here. 🙂

Like most other business-people, you have almost given up on the task of combining short-term and long-term strategic planning.


It’s not that you don’t believe in it at some level. You acknowledge there is value in thinking expansively and inspiring others with BHAGs (Big Hairy Audacious Goals).


At the same time, things are changing too fast nowadays. You can barely find time to focus on solving short-term problems, let alone anything pie-in-the-sky.


But what if the popular conventional wisdom, that long-term strategic planning is dead, is wrong?


What if there were huge gains to be made in the following areas from an interwoven short/long-term approach?


Area 1 – gaining competitive advantage by planning for horizons just a bit longer than others. (Amazon)
Area 2 – inspiring staff with commitments that create an irresistible future. (Unilever)
Area 3 – becoming a sustainable organization that takes care of its own, organic ESG concerns first. (CVS)


These areas could be the keys to unblocking multiple goals at once, while bypassing the worst tendency of companies to fall into short-termism.


In this webinar, you’ll be exposed to a practical method of doing interwoven short/long-term strategic planning. You’ll find out how to invest two or three days (rather than weeks) in a way that returns game-changing results. But maybe most importantly, you’ll be well-informed.


Register today.
Time: Thursday March 30, 2023, 12:30pm Eastern
Join Francis Wade, two-decade veteran of 50+ interwoven short/long-term strategic planning retreats in this one-hour introduction.
NB – Space is limited

Creating the Future

Have some people in your company become reaction-machines? In other words, do they run around all day responding to the latest crisis? Deep down, you know they are inefficient, but what can you do to shift to a culture in which the future is created rather than feared?

For past columns, see blog.fwconsulting.com

This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit longtermstrategy.substack.com/subscribe