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RiskCommentary.caFoundation for ERM: you must have the best organizational planning practice you can muster.
Recap: 3 basic steps in strategic planning process
- internal
- environmental scan
- goal formulation
Three types of planning
- internal organization
- strategic
- operational
Broader schema
- to try to relate planning and management practices (Agile, Lean, ERP, etc.)
- see Robertson Strategic Planning
- review to see where you might make changes
Is strategic planning dead?
- Mintzberg’s article “The Rise and Fall of Strategic Planning“
- strategic planning is popular; yet somehow mysterious and ineffective (kinda sounds like ERM!)
- his true complaint: not predictive; focused on quantitative targets; not participatory
Recommended practices in strategic planning:
- an iterative process; participatory, involving dialogue and exchange
- well-informed by detection of trends, conditions and emergent issues
- helps promote an integrated culture
Note on the use of academic studies
Conclusions: significance of good strategic planning:
- research and discussion
- common understanding that is developed
- resulting meaningful action
Is it too much to ask that risk managers look at planning?
Summary
KEY QUOTE
“Traditional planning fails to take into account the creative processes and discoveries that generate breakthroughs.” (article ~ Wall, S. and Wall ,S.R.)