EXPERT’SVIEW
Time Is Ripe for Refreshing Your Strategic Plan Change in the industry means organizations must be agile and flexible
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ooking at the results over the past two years, our industry’s financial performance looks strong, with a bright future. We are seeing many organizations expand their offerings and services, work with additional customer analytics, and focus on improving the overall experience in the convenience channel. By Van Tarver, They are facing ever-changing The Tarver Group customer behaviors, demographics and generational movement, including significant changes in the workforce of the future. Manufacturers, distributors, equipment suppliers and service organizations continue to respond to the changing needs of the industry, including the redefining of the fresh category. All this change means it may be an excellent time to develop or refresh your strategic plan. This is the time for organizations to demonstrate their agility and flexibility. Here are some thoughts on how to develop or update your strategic plan. DEVELOPMENT PHASE
You start by answering two questions: What are the major disruptive market forces you will face in the coming years and how is your team prepared to address the challenges? Where does your current strategic plan take your company or store in the coming years vs. where the changing customer and workforce will be? The consumer is changing with demographic and generational shifts, wants and needs. Product and
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service offerings and new technology will provide the consumer more convenience options, even to the point of redefining the meaning of “convenience.” Effective organizations and individuals, regardless of their size (be it a single-store operator or a chain of 10,000 stores), need a set of goals and a footprint to reach those goals. This should be the groundwork for annual performance and improvement, as well as a long look and plan into the future. The strategic plan can be your vehicle to develop new pieces of your business model; to sustain and create new competitive advantages for the future. You should engage your associates and management team in the plan. Create the environment that it is everyone’s plan, and everyone’s responsibility to meet or exceed the goals. Then, communicate the goals for the company and how each associate’s role supports the plan. The most effective organizations work as one, regardless of their size, number of divisions or people. The strategic plan will set the vision, strategy, focus and priorities. In fact, companies with multiple divisions can prepare a building-block-type strategic plan that all works up to and supports the overall goals of the entire company. TIMING & QUESTIONS TO CONSIDER
This could be the ideal time of year to establish a schedule to create a refresh of your existing strategic plan. It is an opportunity to reevaluate your previous process and select the various planning team members to ensure you have key team members and