What Happens When Strategic Planning Is Transparent?
As the benefits of organizational transparency become increasingly apparent, businesses around the world are aiming to enhance visibility in their internal processes.
However, strategic planning is still one area in which many companies may be reluctant to open up. Is there really a need to involve everyone across the organization in the strategy execution process?
The advantages of transparent strategic planning are many – here are just four.
Collaboration is enhanced
How can you hope to achieve greater collaboration if your organization is fragmented and departments are working separately?
Implementing a transparent workflow encourages your organization to work on its strategy as a whole, rather than as disjointed groups with conflicting interests.
Information is better managed
Effective strategic planning relies on making sure the relevant people have the latest information at their fingertips.
Your organization can use strategy software, for example, to ensure that key information is transferred to the right departments in order to speed your strategy along to its execution.
Risks are identified quicker
By having a holistic, organization-wide view of the strategy at all times, anyone in your company can spot red flags that need to be addressed and alert the relevant people.
The best strategy planning software solutions have a dashboard feature that brings together the key components of the strategy in one page and help you spot anything that seems to be out of line.
Trust is built
Perhaps one of the biggest benefits of transparency is the trust it builds among employees.
When nothing is hidden and they are actively encouraged to participate in something as important as strategic planning, you can expect to see increased levels of trust and, in turn, morale and productivity.