CSS Strategic Planning Flashcards

Which planning horizon is typically associated with strategic plans?

Answer: Three to five years or longer

Strategic plans usually span a multi-year horizon of roughly three to five years or more.

What is the relationship between strategy and tactics?

Answer: Strategy is the overall plan; tactics are the specific actions to execute it

Strategy provides overall direction while tactics are the concrete actions used to carry it out.

What does a 'value proposition' communicate in strategic planning?

Answer: The unique benefit an organization offers its customers

A value proposition articulates the distinct benefit and value delivered to customers.

Which best describes contingency planning within strategy?

Answer: Preparing alternative actions in case primary plans fail

Contingency planning develops backup actions to deploy if the main strategy encounters problems.

What is the benefit of benchmarking in strategic planning?

Answer: Comparing performance against best practices or competitors to identify improvements

Benchmarking measures performance against peers or best practices to reveal areas for improvement.

Why is executive sponsorship important for strategy execution?

Answer: Leadership support secures resources and signals organizational commitment

Executive sponsorship provides the authority, resources, and visibility needed for successful execution.

What is a common reason strategic plans fail during implementation?

Answer: Poor communication and lack of alignment across the organization

Many strategies fail because they are poorly communicated and not aligned throughout the organization.