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This category examines how an organization develops stra-tegic objectives and action plans; from the 2011-2012 Crite-ria for Performance Excellence p. 10-12. Strategic planning is a process; a series of steps designed to create a strategic plan. When executed systematically and effectively the strategic planning process adds tremendous value to any organization by providing focus on the vision, the goals and the key requirements of stakeholders. The process then guides the creation of a plan that contains the most value-adding, change initiatives to implement in pur-suit of achieving the organization’s goals and meeting the key requirements of stakeholders. An effective strategic planning process will not only create a strategic plan to support achievement of goals, but will also manage the execution of the strategic plan and the sustainability of the results proposed by the action plan. Additional benefits of an effective strategic planning proc-ess include high levels of innovation and employee engage-ment. This handout gives an overview of MidwayUSA’s strategic planning process. Additional detailed information is avail-able in the strategic plan development timeline, which is available upon request.

Strategic Planning

Baldrige Performance Excellence Program, Criteria for Performance Excellence Category 2: Strategic Planning

Important Definitions

Action Plan - The individual ideas for improvement that have been extensively detailed with who, what, where, when and how.

Strategic Objectives - Broad statements that communicate what an organization must achieve to remain or become competitive and ensure long-term sustainability.

Key Requirements - The most important needs of a stakeholder that must be met to achieve stakeholder satis-faction.

Stakeholders - Any group or individual that is or might be affected by an organization’s actions and success.

Strategy - The methods use to achieve organizational goals and long-term sustainability.

ISO 9001:2008 Registered 2009 Recipient of Baldrige National Quality Award

v.10.5.11

Frequency

1. Opening Comments Monthly

a. From the President Monthly

b. Review Meeting Purpose Monthly

c. Next steps in the Strategic Planning Process Monthly

2. Review Direction

a. Mission Statement, Company Goals and Stakeholder Key Requirements Monthly

i. Finalize recommendations (if any) for changes to Mission Statement Annually - Q1

ii. Discuss any changes from BOD (to stakeholders, shareholder key requirements, MS, CGs) Annually - Q1

b. Company Strategies Annually - Q1

c. Company SWOT Analysis (Review) Semi-Annually Q1 & Q4

d. Review Strategic Planning Process handout Annually - Q4

3. Review Strategic Objectives - 2012 Monthly

a. Discuss recommendations for future strategic objectives Annually - Q1

4. Operational Analysis

a. Results Review Monthly

b. Review Level 1 CARs Monthly

c. SWOT Analysis Annually - Q4

d. Core competencies, strategic advantages and challenges Semi-Annually Q2 & Q4

5. Review Bucket List (top 20 and new ideas) Monthly

a. Top 20 Monthly

b. Additions to Bucket List Monthly

i. New ideas added Monthly

ii. New ideas to consider adding Monthly

c. Identify ideas to move to 2012 Strategic Plan Monthly Q1 & Q2

6. Create Strategic Plan - Analyze and Select Company Action Plans (CAPs) Monthly Q1 & Q2

2012

a. Review Action Plans on 2012 Plan Monthly Q1 & Q2

b. Prioritize CAPs Monthly Q1 & Q2

c. Review Gantt chart of 2012 Strategic Plan and Master Resource Pool Monthly Q2

d. Discuss and resolve capacity conflicts Monthly Q2 & Q3

e. Finalize 2012 Strategic Plan September

f. Discuss timeline for 2012 Strategic Plan Monthly Q3

7. Create Long-Term Strategic Plan

2013-2014 Annually - Q4

8. Review Execution of the 2011 Strategic Plan

a. Discuss status of active 2011 CAPs Monthly

9. Control the Results of Action Plans

a. Review completed CAPs results matrix Monthly

Monthly Strategic Planning Meeting Agenda

Purpose: To facilitate the execution of the Strategic Planning Process by reviewing the Company direction; deploying

the strategic objectives; creating the strategic plan; managing the execution of the current year's strategic plan; and

controlling the results of implemented action plans. For more information see the Strategic Planning Process handout.

Strategic Planning Meeting Agenda

Below is a sample agenda for a monthly strategic planning meeting that aligns with the process described in this

handout. Each item is covered as indicated in the frequency column.

Strategic Planning Process

1

Set the Direction

January

2

Deploy the

Strategic Objectives

February, May, August

3

Create Strategic Plan

October—October

4

Deploy the

Strategic Plan

November

5

Execute the

Strategic Plan

January-December

6

Control the

Results of APs

January-December

Validate Mission

Statement

To ensure guidance to the

organization is aligned

with current business needs and direction

BOD, CEO and President

A

Validate Key

Stakeholders

To ensure groups with a

vested interest in the or-

ganization’s success are represented.

BOD, CEO and President

B

Validate

Organizational Goals

To ensure goals are

aligned with current busi-

ness needs and direction.

Goals owned by BOD.

Future performance levels

for goals set by CEO and

President

Our goals are to satisfy our

key stakeholders

BOD, CEO and President

C

Validate Shareholder

Key Requirements

To ensure current under-

standing of the key re-

quirements hat must be met to achieve the share-

holder satisfaction goal.

CEO and BOD

D

Validate Company

Strategies

To provide guidance in

decision-making.

BOD, CEO and President

E

Validate other

Stakeholder Key

Requirements

To ensure current under-

standing of the key re-quirements that must be

met to achieve the respec-

tive stakeholder satisfac-tion goal.

President and SLT

F

Results Review

To identify opportunities

to address, both actual and

projected performance are reviewed against goals.

CEO and President

G

Conduct Company

SWOT Analysis

Strengths, weaknesses,

opportunities and threats in

relation to the current and future environment are

analyzed.

Strategic advantages,

challenges and core com-petencies are validated.

Reviewed with the BOD to

identify blind spots.

Chairman, CEO and SLT

H

Create Strategic

Objectives

To define the initiatives to

undertake to remain com-

petitive and achieve cur-rent and future goals.

Major APs may be identi-

fied.

Reviewed with the BOD to

identify blind spots.

CEO and President

I

Strategic Objectives

Deployed

To all Employees with a

formal call for innovation.

Employees submit ideas

for APs.

Employees help identify

blind spots.

CEO and SLT

J

Ideas Categorized

To identify strategic ideas

for consideration as APs

on the strategic plan

SLT

K

Innovation

Sources include*:

Employees

Customers

Vendors

Shareholders

Strategic Thinking Teams

Strategic Planning Meetings

*ideas also used in process manage-

ment process to improve processes.

Results Review

To identify opportunities

to address, actual and

projected performance are

reviewed against goals

SLT

L

Operational Analysis

Review Company

SWOT Analysis and

Conduct Department

SWOT Analyses

SLT

M

Review

To create a focus on fac-

tors or capabilities to

utilize or overcome in the

strategic plan, core compe-tencies, strategic advan-

tage and challenges are

reviewed.

SLT

N

Innovation

Strategic ideas for APs to

achieve strategic objec-

tives captured.

SLT

Analyze and Select

Ideas for APs for Next

Year’s Strategic Plan

To determine the most

important APs to imple-ment next year to achieve

strategic objectives and

goals.

SLT

O

Analyze and Select

APS for Long-Term

Strategic Plans

To determine the most

important APs to imple-ment as a part of the long-

term strategic plan (2-5

years out) to achieve fu-ture strategic objectives

and goals.

SLT

P

Prioritize APs

To determine the appropri-

ate importance level of each AP.

SLT

Q

Integrate Strategic

Plan with Workforce

Planning

To ensure the resources

needed to execute the strategic plan are inte-

grated into workforce

plans.

SLT

R

Integrate Strategic

Plan with Financial

Plan

To ensure the impacts to

financial plans are identi-fied and incorporated into

the budget.

SLT

S

Finalize and Approve

the Strategic Plan

To commit to a strategic

plan to implement in the

next year.

SLT finalizes the plan, the

CEO and President ap-

prove the plan, and the

BOD reviews the plan.

CEO and SLT

T

Deploy the Strategic

Plan

To the entire organization

to facilitate engagement

and acceptance of the plan.

SLT

U

Execute the Strategic

Plan

Implement the APs on the

current year’s strategic

plan.

SLT

V

Control the Results of

the APs

To ensure desired results

are achieved and sus-

tained.

SLT

W

S W

O T