Achieving Business Excellence with John Spence

Strategic Execution Planning – the key to your success!

I was recently invited to return to the University of Pennsylvania’s Wharton School of Business for the fourth year in a row to teach a special class on strategic planning for the Securities Industry Institute. I called my contact a few months before the session to ask if it was possible to shift the class more from “strategic planning” to “strategic thinking” this year, but was surprised to find out that 98 executives had already signed up for the class based on the catalog description of it as “a solid look at how to write an effective strategic plan.” So, I decided to go back and take a hard look at the program and see if I could update it a bit and was surprised to have an epiphany of sorts…

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Some Coaching on Execution

Here is a copy of a recent note I sent to a CEO I am coaching. He is a fantastic guy, really, really smart and does a superior job with his company. He knows all of the things in this memo well (as you likely do too!) it is simply that he needed to be reminded of it – and more importantly, pushed hard to do a better job of executing these key ideas in a consistent way throughout his organization.
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Why Business Planning is So Important

Frankly it scares me. In working with literally hundreds of small to medium-sized business over the past decade I have been terrified at how few of them take their business planning seriously. Even more horrifying is that a fair number of them did not even have a business plan at all! Let me make this clear: sustained business success does not come from chance, fate or good luck. To run a successful and profitable company it is critical that you understand, implement and value the process of effective business planning. But rather than just jump up and down on my soap box, let me try to lay out for you a reasoned and well thought out case for why you should invest your time and energy in creating and maintaining a solid business plan. Continue reading “Why Business Planning is So Important” »