The Strategic Planning Process 25
and other requirements for carrying out a strategic initiative. Each
priority issue typically generates two to three action plans. For ex-
ample, if customer retention is a priority, it may lead to two action
plans: one for improving customer service and another for devel-
oping a customer loyalty program.
Once a unit has developed its action plans, the unit leaders
send the plans to senior management for review and discussion. If
revisions are necessary, senior management will ask the units to
refine their action plans. At a resource-allocation meeting, the re-
fined action plans are approved, any cross-functional teams are
designated, and senior management allocates the resources re-
quired to carry out the plans. Senior ...