Summary
In the field of strategy, the admission that assumptions are being made in the preparation of strategic plans needs to be acknowledged. This article posits that the identification and in-depth analysis of an organization's strategic assumptions need to become an integral part of the strategic planning process, and that the presentation of these underlying strategic assumptions should become an implied and required part of any written strategic plan. There are several benefits which result from demanding to see the set of strategic assumptions included in a strategic plan: 1. Inclusion facilitates the analysis of any organization's business plan by a financial institution, venture capitalist or angel investor. 2. Knowing they need to exit a strategic planning process with a complete, shared set of strategic assumptions forces a management team to use a much more rigorous strategic planning process. 3. Developing and debating strategic assumptions with groups of employees is an excellent way to gain buy-in and commitment to the organization.
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Strategic Assumptions: The Essential (and Missing) Element of Your Strategic Plan
In the field of strategy, the admission that assumptions are being made in the preparation of strategic plans needs to be acknowledged. Moreover, transparency and discussion surrounding these assumptions need to be viewed as key elements and the responsibility of the strategy creators.
In doing so, the practitioners themselves - be they CEOs, consultants, Chief Strategy Officers, or employees in the Strategy Management Office - will be forced to elevate both their own performance standards and the rigor of the strategy process to a level comparable to that exercised in the fields of science, economics and finance, where the publication and debate of assumptions are the norm. This will pave the way for strategy creators to gain greater credibility and build a stronger voice on executive teams. Finally, it will provi...See the full content of this document
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