Strategy Magazine published

All members will soon be receiving their copies of the December issue of Strategy Magazine. As strategists we have to hold our hands up to a collective failure to predict the downturn. In this latest issue, we examine the roots of that failure, and how the profession can move on. What have strategists learned from their shortcomings, and what new thinking is emerging from a time of turmoil?
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SPS supports Henley Knowledge Management Forum event

The Strategic Planning Society is pleased to support the Henley Knowledge Management Forum event at Greenlands, Henley Business School on 24-25 February 2010.

The conference will address the right conditions to generate new working knowledge and support better knowledge exchange. For strategists it will highlight how to build the adaptability that successful strategy needs in a fast-changing world.

The conference will focus on three key areas: understanding what influences individuals' capacity to develop and share their knowledge and expertise; appreciating how to harness the collective potential of personal and enterprise networks for enhanced knowledge benefits; and exploring the practices that can improve the returns from relating at all levels.

SPS members can receive a 15% discount on the conference entry fee of GBP1,125. To gain your discount visit the Henley website and enter the code HBSPS2010kmf or email Jane McKenzie at Henley. Non-member newsletter readers will receive a 5% discount.

The annual strategy review is being challenged

Traditions of the annual strategic review are established at many companies. However, in our latest poll on the SPS website we asked how often you update strategic plans, and discovered the norm is far from established.

While 29% of people review their plans once a year, more regular updates are becoming more common. Almost a fifth (18%) review plans four times a year, and another 12% review them twice a year. The idea of timetabling reviews has also taken a knock in rapidly changing times. Some 12% review plans continually, and another 12% do so whenever it is appropriate.

This month we ask, will your leaders return from the Christmas break with a New Year's resolution for business strategy? Add your vote now »

Do financial goals qualify as strategic objectives?

Members of the SPS LinkedIn Group have been discussing whether financial goals can be strategic objectives. One member said most plans he had come across read as a compendium of financial goals.

Another argued that financial results should be the result of achieving objectives rather than objectives in themselves. And a third pointed out that numbers are not the basis of strategy they are just 'keeping score.'

However, one member disagreed, saying a strategic plan that has no mention of financial elements risks appearing ungrounded in real world considerations - although he added that if financial objectives come to dominate, the risk is the strategic plan turns into a financial plan.

Other subjects under discussion include what should come after SWOT analysis, what would encourage a business owner to try strategy and how credible is your business plan?

Join the debate with over 800 strategists in the SPS Group on LinkedIn »

Instant insight

Organisations and individuals make vital decisions every day, but the way we do so may be both time-consuming and wide of the mark when it should be fast and frugal. Dan Goldstein, Assistant Professor of Marketing at London Business School, argues that instead of accumulating as much information as possible and considering all possible options, business leaders may be best with a simple rule of thumb.

Read the full article »

Social capital, psychological safety and learning behaviours from failures in organisations

In volume 40, number 1, of Long Range Planning, author Abraham Carmeli says that all organisations are capable of making mistakes, but some are more capable than others of learning from them. His paper explores failure-based learning behaviours in organisations, examining the role of social capital in their development. He concludes that social capital builds psychological safety and when people feel psychologically safe, learning from failures is enabled.

Read the full executive summary »

Social enterprise to the rescue

There has been much talk, in the wake of the financial crisis, of a new 'normal' emerging; more regulation; doing things differently. One aspect of that new normal could be the emergence of more social enterprises and greater incentive for social investment.

More information about Shaping Tomorrow »

2010 SPS Annual General Meeting

The AGM of the Strategic Planning Society will be held on 20 January 2010 in the Mountbatten Room at the Royal Over-Seas League, Over-Seas House, Park Place, St James's Street, London, SW1A 1LR at 6pm (the nearest tube station is Green Park). The AGM is open to all members, so please do try and come along - there will be canapes and wine for all. If you would like to be there please email us so we can ensure all members are catered for.

Ashridge Open Programmes

The SPS and Ashridge have teamed up to offer SPS members some exclusive benefits, the first of which is a 10% discount on any of Ashridge's open strategy programmes.

Ashridge has a wide variety of short, residential programmes to help individuals and organisations to achieve their development needs. These programmes focus on blending the practical experience of their faculty with leading-edge business thinking, to inspire and challenge you.

In addition, learning in small classes – typically between 12 and 30 participants – promotes collaboration on your own issues and ensures individual support, enabling all participants to return, better able to transfer learning to the workplace.

For more details, visit Ashridge. Please quote your SPS membership number when booking.