So what is Strategy?
There are many textbook definitions for a Strategic Plan, but in basic terms it could be described as:
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- A high level roadmap for the business
- A “compass” for the business vision and direction
- A platform for communicating the vision, mission and goals for the business
The following mind map provides a visual overview of a typical Strategic Planning framework…
1. Review Past Performance
Most Strategy Planning starts with a review of past performance – a critical look at “current situation” where each area of the business is reviewed in terms of performance, what worked well, what didn’t go so well, and areas for improvement
This is an important facet of kick-starting any strategic review or plan and provides meaningful insights into both positive and negative aspects of previous and/or current performance. There are many ways of doing this, including tools and techniques such as SWOT analysis, but it is important to execute this part of the involving the right people (for credible and accurate insights and for decision-making and direction setting as the exercise progresses).
2. Develop a Vision Statement
A Vision Statement should be both an aspirational and inspirational description of where the business is going and what it aims to achieve in the medium to long-term.
It serves as a clear guide for the direction the business wishes to take, setting out the high level primary goals.
3. Develop a Mission Statement
A Mission Statement outlines the core purpose of a business and its reason for existing. It should help guide the business strategies, articulate its overall goals, provide a roadmap and guide any decision making.
A Mission Statement should also clearly outline products and services, which markets will be served and how; and communicate intended direction to the organisation, customers, and stakeholders.
4. Identify Strategic Objectives
At this stage, the aim is to develop a set of high-level Objectives for all areas of the business. They need to highlight the priorities, goals and objectives that will ensure delivery of the vision and mission. A view of the end-objectives and results required for each objective is a must.
Aligned with the first stage of Review, in particular the SWOT analysis, other key aspects of setting these objectives would be: building on the identified strengths; ensuring plans and actions are in place to take care of areas of weakness; identified opportunities are factored in and included; actions are in place to counter any perceived threats.
This stage is very much aligned with the next stage of implementation…
5. Implementation Plans
The distillation from the Vision, Mission and higher-level Strategic Objectives needs to filter down to Departmental, Team and individual Objectives and Action Plans. The “who, what, where, when, and how” needs to be agreed and communicated.
Plans are now more “operational” and “process” aligned with SMART (specific, measurable, achievable, realistic and time-related) objectives agreed and put in place. These objectives also need to take into account Performance Indicators, Resource allocation and budget requirements.
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6. Performance Management
All the Objectives and Action Plans need to be continually reviewed against the agreed outcomes or Key Performance Indicators (KPIs). Targets and results need be continually monitored and reviewed.
The whole Strategy and related objectives, plans, projects, etc, must be managed in such a way that strengths and weaknesses can be quickly and easily identified and acted on, with the ethos of continuous improvement and business excellence at the core of the strategy.
In terms of the executing and managing the whole end-to-end process of Strategic Planning, an increasing number of planners, managers, directors and business leaders are now turning to business mind mapping software to map, visualize, shape, present and communicate in key aspects of:
• Brainstorming sessions at the scoping and planning stages
• Creatively applying problem solving and other tools and techniques such as SWOT, etc.
• More efficient and focussed planning, running and follow-up of meetings
• Capturing individual and team contributions to ideas, knowledge and experience
• Gaining understanding on the both the big picture and component parts
• Better, well-informed decision making and prioritisation
• Scoping, planning and authoring documents, reports and presentations
• Creating, allocating, monitoring and managing Objectives, Tasks and Actions
• Planning, scheduling and managing Projects
For those of you engaged in any of the Strategic Planning process, from the initial performance review, through to implementing and managing objectives, actions, and projects, I would thoroughly recommend the use of mind mapping software.
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It truly does augment and add value to your existing suite of daily-use applications through its highly intuitive and engaging “capture – visualize – manage” processes and functions, enabling increased productivity, clarity on all work activities and higher quality outputs (to name but a few!).
For a contemplated Partnership, Strategic Alliance or Joint Venture (JV) between [COMPANY A] (or “COMPANY A”), [COMPANY B] (or “COMPANY B”).
Submitted by: COMPANY B
.
This proposal contains the proprietary information of [COMPANY B] and shall not be shared outside of the above named parties.
PandaTip: This sample business partnership proposal is a preliminary proposal with a specific partnership in mind. Feel free to customize to suit your needs.
Background.
[COMPANY B] met with COMPANY A and COMPANY C and shared with them its plans related to [DESCRIBE THE BUSINESS VENTURE].
[COMPANY B] possesses rare insights and expertise necessary to develop systems and applications related to the above, while COMPANY A has the resources needed to develop such systems and applications.
The parties believe there may be mutual benefit in forming a business partnership or strategic alliance and pooling their resources and assets in order to pursue the objectives below.
Objectives of the parties.
PandaTip: It’s important to show that you understand the objectives and that both parties are aligned in terms of what those objectives are.
Catalog Management –
- A DIY web-based platform wherein… (COMPANY A & COMPANY B)
- A more sophisticated application for comprehensive project-based catalog management services (COMPANY B)
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Data & Analytics –
- A web-based data and analytics platform that will give… (COMPANY A & COMPANY B)
Contributions & responsibilities of the parties.
PandaTip: In a partnership, it’s imperative that you show what each party’s contributions and responsibilities will be. In this business partnership proposal template, Company B is a startup business that has certain ideas and intellectual property while Company A has the means to bring those ideas to life with capital and human resources.
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COMPANY B owns intellectual property, including, but not limited to, plans, methods and processes needed for the development of the systems and applications contemplated above.
COMPANY A brings capital/resources and marketing and business development expertise as well as expertise in hosting and managing online subscription-based platforms. NOTE: the arrangement could be set up where funding is sought from outside COMPANY A.
The below table shows each parties’ anticipated contributions during the development and execution phases of any strategic alliance or partnership that may be entered into.
| COMPANY B | COMPANY A | ||
| DEVELOPMENT PHASE | Web-based DIY Catalog Management platform | Intellectual property, including plans & know-how. | Capital/Software Development |
| Project-based Catalog Management application | Intellectual property, including plans & know-how. | Capital/Software Development | |
| Web-based Data & Analytics platform | Intellectual property, including plans & know-how. | Capital/Software Development | |
| Intellectual property, including plans & know-how. | Capital/Software Development | ||
| Intellectual property, including plans & know-how. | COMPANY A clients | ||
| Intellectual property, including plans & know-how. | Capital/Software Development | ||
| EXECUTION PHASE | Web-based DIY Catalog Management platform | Consult on upgrades & sales support | Website hosting & maintenance & customer service & sales & marketing |
| Project-based Catalog Management | COMPANY B will perform all efforts related to project-based/non-DIY services | ||
| Web-based Data & Analytics platform | COMPANY B will share data & provide sales support | Website hosting & maintenance & customer service & sales & marketing | |
| COMPANY B will perform all royalty accounting | |||
| Sales support | Sales & marketing | ||
| COMPANY B will have right of first refusal for these services |
Rights in Developed Software & Services.
PandaTip: Ownership of jointly developed or funded intellectual property (IP) can be contentious, so it’s important to set expectations early on in the process.
The following depends on legal structure of the arrangement. The below assumes a strategic alliance will be formed.
| COMPANY B | COMPANY A | ||
| DEVELOPMENT PHASE | Web-based DIY Catalog Management platform | Ownership of IP and Tech | Perpetual License to be agreed |
| Project-based Catalog Management application | Ownership of IP and Tech | Perpetual License to be agreed | |
| Web-based Data & Analytics platform | Ownership of IP and Tech | Perpetual License to be agreed | |
| Ownership of IP and Tech | COMPANY B may opt to license as add-on to DIY catalog mgmt. platform | ||
| Rights/ownership in musical works in whole or part to be agreed – subject to existing agmts. | |||
| Right of first refusal on… |
Legal considerations.
This potential alliance or partnership could take a number of forms. Given the complexities, a strategic alliance agreement may make the most sense, but we need to clarify a number of items for that kind of agreement (e.g. revenue/profit splits or royalty payments). A JV could be construed as a partnership and if a JV is desired, it may make sense to set the JV up as an LLC for liability reasons. This could get complicated.
Revenue or profit splits / royalties.
A discussion around revenue share, profit share or royalties is dependent on the legal considerations above. We will leave this TBD for now.
AGREED BY THE PARTIES:
___________________________ ______________
[COMPANY A REP]
[COMPANY A]
___________________________ ______________
[COMPANY B REP]
[COMPANY B]