The strategic plan for the private foundation aims to define its mission and vision clearly. By gathering input from key stakeholders, conducting a SWOT analysis, and hosting workshops, the foundation ensures its mission aligns with broader objectives. For example, stakeholder feedback might suggest adjustments to better serve community needs. This inclusive process helps cement a shared understanding.
Setting strategic priorities involves identifying the foundation’s focus areas and benchmarking against similar entities to establish industry standards. This includes defining SMART goals and aligning resources to achieve them. Communicating these priorities broadly ensures organizational alignment and effective execution.
The implementation plan spells out action steps, assigns responsibilities, and develops a timeline. Establishing a project management system and using KPIs ensures progress tracking and accountability. Regular reviews and feedback loops allow for continuous refinement.
The strategies
⛳️ Strategy 1: Define the foundation's mission and vision
- Gather input from key stakeholders on the foundation’s purpose and goals
- Review and evaluate existing mission and vision statements if available
- Conduct a SWOT analysis to identify strengths, weaknesses, opportunities, and threats
- Host a strategic planning workshop to finalise mission and vision statements
- Ensure alignment of mission and vision with the overall objectives of the foundation
- Document the finalised mission and vision statements clearly
- Communicate the mission and vision to all stakeholders for feedback
- Create promotional materials to disseminate the mission and vision
- Incorporate the mission and vision into all strategic documents
- Review and update mission and vision annually to remain relevant
⛳️ Strategy 2: Set strategic priorities and goals
- Identify key focus areas of the foundation based on the mission
- Research and benchmark against similar foundations to establish industry standards
- Develop specific, measurable, achievable, relevant, and time-bound (SMART) goals
- Prioritise goals based on impact and feasibility
- Align resource allocation with prioritised goals
- Create departmental objectives to support overall strategic goals
- Establish performance indicators for monitoring progress
- Engage with programme leaders to ensure commitment to goals
- Review strategic priorities in consultation with the board
- Communicate the strategic priorities and goals across the organisation
⛳️ Strategy 3: Develop an implementation and evaluation plan
- Create an action plan detailing the steps required to achieve each strategic goal
- Assign responsibility for each action item to designated team members
- Develop a timeline for the implementation of strategic actions
- Identify required resources and potential funding sources
- Set up a project management system to track progress
- Establish a regular reporting schedule for progress updates
- Develop a process for evaluating and measuring outcomes, including KPIs
- Schedule periodic reviews to assess strategy implementation and make adjustments
- Solicit feedback from stakeholders to improve the strategic plan
- Conduct an annual comprehensive review to measure impact and redefine strategies for continuous improvement
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
