In today’s VUCA (Volatility, Uncertainty, Complexity, and Ambiguity), a clear and decisive strategy is the North Star guiding businesses through the vast and often tumultuous sea of industry. Chris Lischewski, former CEO of Bumble Bee and celebrated transformative leader talks about the need for Strategic and Tactical plans to help businesses navigate this complex dynamic. Lischewski recently unveiled a series of business lessons and 7 Mantras for Business Success that can help leaders conquer this uncertain landscape. To use a maritime metaphor, a captain uses both a distant star and an accurate map to navigate. Similarly, a business leader needs to balance longer-term strategy with shorter-term tactical plans.
According to Lischewski the business landscape is ever-changing and increasingly becoming more complex. This truth rings loud and clear when we consider the longevity of the companies listed in the S&P 500 – only a small fraction of whom have weathered the storms of time and change. To join the ranks of these survivors, the careful orchestration of strategies and tactics becomes an indispensable tool for the modern business leader.
Strategic Planning: Defining the Destination
In his lessons, Chris Lischewski defines long-term strategic planning as setting the direction for your business. It essentially answers the question, “Where do we want to go?” A strategic plan encompasses the company’s mission and vision, identifies the overall goals, and outlines the steps necessary to achieve them. This plan serves as the business’s compass, providing direction and focus.
Development of a strategic plan should consider many elements like the company’s strengths and weaknesses, market trends, the competitive landscape, opportunities, and threats. This helps the business define its source of competitive advantage and “Reason to Be” in alignment with the organizational structure and culture.
Tactical Planning
While strategic planning sets the direction, tactical planning outlines the specific steps or the ‘how to’ of the process. It focuses on the actions needed in the near term to support the longer-term strategic objectives.
Lischewski emphasises that implementation of tactical plans guides day-to-day operations and decisions. “They include concrete tasks, timelines, and resource allocations necessary for achieving tactical objectives. For instance, if a strategic goal is to expand to a new market, a tactical plan could include steps like market research, developing new marketing campaigns, or modifying the product to meet the new market’s needs”.
Synchronizing Strategy and Tactics
The magic happens when your strategic and tactical plans work in harmony. Together, they create a powerful synergy that aligns the broader vision with daily operations. The strategy serves as the compass providing the direction, while tactics are the roadmap that guides the journey.
According to Lischewski, successful leaders understand this synergy and ensure that every tactical decision supports the strategic plan. On the other hand, they also reassess and modify the strategy based on the realities and results of tactical execution. “This continuous loop of planning, executing, evaluating, and adjusting is what keeps a business nimble and poised for success.”
Navigating Change: Adaptability is Key
Lischewski insists that it is vital to understand the role of adaptability in long-term success. “Plans cannot be set in stone as the only constant in business is change. Be it changes in the market, competition, or internal operations, your tactical and strategic plans must be flexible enough to adapt.”
Business leaders should foster an organizational culture that is not just capable of adapting quickly but also thrives on change. An agile mindset ensures that your business stays ahead of the curve, ready to seize opportunities that change presents.
Strategic and tactical planning play an instrumental role in business success. It involves balancing the broader vision of the organization with immediate needs and realities. As we navigate this complex process, it’s crucial to remember that adaptability is equally important to planning.
About Chris Lischewski
Chris Lischewski is been a prominent leader in the food industry, renowned for his ability to lead successful turnarounds of struggling companies. His strategic vision, innovative leadership style, and decades of experience in driving growth at underachieving organizations have resulted in remarkable transformations and success stories. Recently, Lischewski has distilled his insights into seven success mantras designed to help businesses navigate the complexities of a VUCA (volatility, uncertainty, complexity, and ambiguity) world.
In this ongoing series, Lischewski delves into the synergies between strategic and tactical planning, providing organizations with a comprehensive roadmap to realize their vision, execute their mission, and ensure their ongoing success.
Source – Orissa post
