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Strategic Planning for the New Financial Year Consulting & Solutions e-update

Release Date

19 July 2013

It’s almost the end of the first month of the new financial year. Many of you would still be closing off ledgers, finalising last minute invoices and doing everything you can to try and make your budgets look healthier.

Some of you might not have received your final figures yet, leaving you unclear about where the downfalls are in your business inhibiting your ability to plan for the future. This combined with the sudden change in government and whispers about changes to the election date, makes it difficult to formulate long term strategies in the traditional manner.

Since the GFC, the business landscape has changed. Markets are more turbulent, trends are fluctuating and buyers are becoming increasingly fickle, making it hard to predict movement, future growth patterns and changes in market needs.
This uncertainty necessitates a lean strategy where traditional models and employee practices are no longer considered the status quo. In order to create significant efficiencies and overcome obstacles, Agile Strategic Planning Principles should be considered.

Strategic Planning is the process of defining an organisations plans for achieving its objectives. Agile Strategic Planning maintains the same principle; however the value set and factors to be considered are different.

The primary objective of Agile Strategic Planning is to maximize the economic value that companies deliver to the market and their stakeholders. In implementing such a model, an organisation is able to be fluid and respond quickly to changing market needs. This fluidity enables organisations to employ rapid changes to their product and service portfolios, enter new markets and transcend traditional barriers to business.

This degree of flexibility is ideal in the current economy. A change in government could drastically impact on consumer confidences, industry sectors receiving funding and the overall strength of the Australian dollar.

In order to survive in the current economy, we need to instill agility building processes integrated with viable support programs in order to future proof our business. Maintaining rigid, annually reviewed strategies and not reflecting on, assessing and modifying strategic plans on a regular basis may result in a less than optimal business outcome and compromised relevancy with your customers.

All the best for the new financial year.

Paula Martin
General Manager
Australian Business Consulting & Solutions

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