For 2025, Choose Strategic Thinking Over Strategic Planning
Strategic planning season is upon us. Determining on an annual basis 'what will we do' and 'how' is a vital activity that many cannabis firm don’t do well - if they do at all.
Ignoring annual planning is risky; it could lead to strategic confusion, missed market opportunities and poor capital & resource allocation. Planning is also a good time to align your team around the ‘current state’ and revisit key operating assumptions.
If you don’t have the time or resources to run a formal strategic planning exercise the next best thing is to take your leadership through a bespoke and facilitated 'strategic thinking' process.
As opposed to extended, large and formal exercises, strategic thinking sessions rely on fewer but more senior participants, compressed timelines, and practical analytical & planning methodologies.
Think Seal Team 6 squad versus a battalion of soldiers.
In many cases, small groups of collaborative leaders in facilitated workshops are much better at developing integrated strategies and action plans than larger teams in a drawn out, multi-faceted process.
The kernel
This approach to strategy development mirrors Bertrand Russell’s definition of philosophy. He wrote “it is not a theory, but an activity... [which] consists essentially of elucidations”. It serves not to propose “‘philosophical propositions’, but to make propositions clear”.
In other words, strategic thinking aims to validate strategic hypotheses, force practical ‘thinking’ and have a bias for action.
Participants
> Max. 8 representing key functions;
> Strategically minded, P&L responsible;
> An external facilitator with coalition-building skills, industry expertise, and the chops to deliver a contrarian POV.
Required inputs
> Upfront alignment on expectations, key hypotheses and business goals;
> Potential scenarios based on different market sizes & growth, threats and regulatory outcomes;
> A proper financial model to evaluate the impact of strategic options on different scenarios.
The process
> Perform analytical pre work to understand the ‘current state’ of the business, customers, and industry:
> Run a strategy building workshop spread over 1.5 days;
> Utilize powerful decision making and planning tools such as an OGSM;
> Develop a 100-day implementation plan
Strategic thinking techniques come in different forms.
Companies often face major strategic decisions such as whether to pursue a M&A transaction or launch a new product.
Advanced strategy tools such as Game Theory and Business War Gaming can be used to help evaluate big & risky decisions, explore competitive reactions and secure leadership alignment.
Call me. I help leadership teams solve difficult strategic, cost & organizational problems, plan and capitalize on growth opportunities.
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