Strategic Planning Strategic planning : Set priorities Focus energy and resources Strengthen operations Ensure that stakeholders are working toward common goals Establish agreement around intended outcomes/results Assess and adjust direction in response to a changing environment Effective strategic planning articulates not only where an organization is going and the actions needed to make progress, but also how it will know if it is successful

Many entrepreneurs swept up in putting out fires instead of executing their plans.   Most fail at execution Need to connect strategy to the individual goals of each employee

Can you imagine losing $125 million ? In 1999 NASA lost a Mars orbiter one team used metric units for a calculation and the other team didn’t.

The key to proper execution lies in three core areas: People, strategy and operations. “The people process is more important than strategy or operations processes,” People make judgments about how markets are changing, create strategies based on those judgments, and translate the strategies into operational realities."   Larry Bossidy and Ram Charan Execution: The Discipline of Getting Things Done

By 2018 - A quarter of insurance industry employees will be within five to ten years of retirement By 2017 one in every three employees will be a Millennial By 2025 Millennials will comprise 75% of the global workforce

change is all around us It can come in the form of: rebuilding Stakeholder expectations Human resources The environment (Internal or external) Management Organizational structure Policies and processes Regulatory/legislated changes Cash flow Competition Products or services Merely acknowledging these changes is not sufficient to provide for successful business outcomes.

Knowing how to successfully navigate these changes and develop appropriate and effective processes to properly manage such change is a must. Virtually impossible for organizations to make sound strategic decisions and completely accomplish objectives when deprived of strong change management strategies. This is especially true in the world of property restoration where obstacles and ambiguity are inevitable at every juncture.

Required elements for Change: Shared vision Differentiated strategy Resourced goals Accountable action planning Consistent C-suite communication Strategy-based meetings When an organization puts money, energy, and time into making all of these happen contiguously, transformational change happens.

Embrace change, but put employees first Change often is seen as a bad thing It has the potential to be just the opposite Deploy people, processes and technologies effectively for the purpose of improving, progressing and building a stronger competitive advantage.

PUTTING EMPLOYEES FIRST  Cultivate a positive and productive internal environment Ensure employees have trust in the management team at all levels. Imperative employees feel and believe their contributions are highly valued Change will not negatively impact their roles within the organization. 

Strive to : Successfully identify Effectively manage Accurately measure Closely monitor Clearly communicate changes and change management strategies This will facilitate and drive business strategy in a way that positions organizations to achieve and maintain the levels of success they envision.

Changing business strategies Typically involves: Analyzing your current business practices Determine where and when adjustments are required. Adapting your business model involves risks Plan ahead Examine alternatives before taking any action Introduce changes slowly Be prepared to return to your previous strategies if your new strategies don’t pan out.

Examine your key performance indicators. Look at revenue, sales and other metrics. Speak to your clients to get more information. Changing customer requirements could dictate major changes by your company in order to remain competitive. Review industry benchmarks to see if there might be a long-term industry shift that may impact your business.

Communicate and train employees on new business strategies Rate employees on critical skills needed to adapt to new business strategies Identify performance gaps and, if necessary, recruit, interview and hire new personnel who possess these skills. Provide opportunities to coach and mentor existing personnel on new technology, techniques and practices to help your company succeed. Ensure your policies and procedures reflect your new strategic direction

Evaluate your business strategy adjustment Analyze the results and impact on operational metrics. Expand programs that show promise. Cut back or refine programs that produce less stellar results.