Michael Saltzstein on Strategic Planning: An Overview

There's something truly magical about a team that's fully invested in a company's mission and vision. When everyone is on board and excited about the big ideas and even bigger goals that lie ahead, it becomes clear that anything is possible. Perhaps your company aims to make a real difference in the world, whether it's through charitable contributions or sustainable business practices. Or maybe your focus is on delivering top-notch customer care that truly sets your brand apart from the competition. Whatever your specific goal may be, it's clear that your team has bought in and is ready to make it happen.
But now's the hardest part: How do you transform an idea into an actionable strategy?
Michael Saltzstein says the strategic planning process can be challenging, but a strategic planning framework can make it easier. You can use a framework (or frameworks) to tackle a specific element of the strategic planning process with zero eye rolls and plenty of enthusiasm and energy.

Who needs a strategic planning framework?

Here's the short answer: Anyone who has a strategic plan, whether it's a strategic plan for a single project or the whole organization, says Michael Saltzstein.
The good news is that these frameworks are straightforward. Anyone from your grandma to your cat will be able to use them.

What is a strategic planning framework?

A strategic planning framework is a simple tool you and your team can use to focus on a specific part of your strategic plan.
Your entire strategic plan has to cover a lot, including:
Where you are now
Where you want to go next
How you'll achieve specific goals

Pulling all of that together can be challenging, but a solid strategic planning framework will help you chip away at that iceberg, notes Michael Saltzstein.
For instance, the objectives and key results (OKRs) framework can be used to iron out the goals included in your strategic plan. Or you might use another framework called Porter's five forces to determine how competitive factors will impact your organization's future.

Strategic planning frameworks help delve into a specific section of your strategic plan to create something comprehensive that helps you turn ideas into action, notes Michael Saltzstein.

Michael Saltzstein spearheads global risk services, financial structures, multi-line claims, and strategic planning and enterprise initiatives. For more on Michael and his insights, click this link.