Page 23 - Becom Your Own CEO

Become Your Own CEO
First Principals
First principles are a step removed from values. Values are beliefs. First principles are rules. We all have first principles we live by as do companies. As with values, a company must define its first principles because they are the rules they and their team will follow when executing the strategic plan.
Brainstor ming
Planning requires creativity, imagination
and plenty of ideas. Great ideas can come from anywhere and from anyone. Therefore, many companies solicit ideas from their team. They have brainstorming meetings where their teams discuss ideas, goals
and how to achieve them. Sometimes the best ideas come from unexpected places. Encouraging and facilitating an environment
where teams can think out loud, share ideas, hold them up to the light, have them undergo vigorous debate and see which ones have legs benefits everyone. Great companies incorporate brainstorming into their strategic planning.
The Plan
Once the foundation has been laid and ideas discussed, companies craft a strategic plan. They define long term success, sometimes 5 years out, sometimes 10, sometimes more. They start with the end game and work backwards and forwards to determine how best to get to the finish line.
©2021 Federation of Defense & Corporate Counsel
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SECTION 02 CORPORATE STRATEGIC PLANNING