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Strategic planning is a great way to identify which initiatives can add the most value
to your organization. The next step is to prioritize initiatives with a systematic
method. Use our downloadable Priority Index Tool to guide you through the
prioritization process, and help you drill down on the value added for each proposed
initiative.
Feasibility
Strategic Fit
• Fit with Company Goals & Objectives (CG) - is this aligned to our goals?
• Ease of Implementation (EI) - how difficult would this be to do?
• Skills & Resources (SR) - do we have the required resources in-house?
Risk
Action Plan:
1. Consult your Strategic Plan - review your strategic plan and add each
proposed marketing initiative into your Priority Index Tool.
3. Sort your Priority Index - once you have completed the scoring process,
sort your initiatives by total overall score (highest to lowest).
4. Delegate & Execute - now that you have prioritized your initiatives, start
with your most important & urgent projects. To optimize your efficiency, hand
off less strategic initiatives to your team for completion.
5. Review Next Quarter - get into the habit of updating your strategic plan
each quarter, and revisit this prioritization process to ensure you can adapt to
changes in your business environment.
Bottom-line:
A strategic plan without rigorous prioritization will not be effective. Develop a strong
and systematic prioritization process to ensure you are delivering maximum value,
given your time & resources.