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Use Cvent to increase attendance by 20%, increase productivity by 27%, decrease cost by 30%. Meetings are an essential component of any organization, with face-to-face meetings often being cited as a top driver of company goals, employee engagement, and revenue. Whether your organization has initiated a full program or is just starting out, Cvent can assist you by providing a comprehensive solution that helps drive your company's goals.
Not ready for a full program or don't need all the bells and whistles?Check out "Simply", the lighter less complex offering for meetings management.
Read the SMM Matters Series which breaks Implementation, Budgeting & Tracking, Meeting Spend, Comprehensive HCP Compliance, Strategic Sourcing, Attendee Management, Product Adoption, SMM Reporting and Data Analysis, and Going Global into individual, bite sized portions.
Nearly 80% of organizations view Strategic Meetings Management (SMM) as a moderate-to-high priority function.
Ultimately, all actions taken by an organization are a consequence of decisions made by groups or individuals within an organization. Allows your team to DERIVE priorities of your strategic objectives either on your own (A-Synchronous) or as a Group in Real Time (Synchronous). Rank each proposed strategic initiative against the weighted strategic objectives either on your own (A-Synchronous) or as a Group in Real Time (Synchronous). Strategic PlanningThe question that one needs to ask is “What exactly is meant by strategic”?
The Strategic Planning Process – A Framework Boundary Conditions and Specification of decision criteria This is the first stage in the planning process. Industry AnalysisThis area is taught well at academic institutions and there are abundant tools available for analyzing industries. Articulation of Strategic RoadmapOnce the strategic options have been assessed, the strategic plan is put up for approval to the decision makers.
Yet, when it comes to costs most companies have no idea how much they are spending, or where they are spending it.
From meeting planning and event management, to travel management and sourcing, Cvent can help you attain organizational objectives.
There are hundreds of books written on this subject and its use in business is nothing new, therefore Strategic Planning should be relatively simple, right?
Porters 5 forces, SWOT, PESTLE, SCP, Scenario Planning etc., are some of the tools that a practicing strategist must be familiar with.

Note that sensitivity analysis and scenario planning are sometimes used interchangeably, but they are different tools that are to be used for different objectives. With such a high level of spend, an effective Meetings Management solution is essential to increase visibility, engagement, and results for any corporation. These decisions would be unique to a particular organization, would be unique to achieve a particular goal at a particular point in time and these decisions are taken in a series The key question that practitioners often face is what is the process that is used to answer the above questions?
Appropriate use of these tools would reveal opportunities and highlight areas of weakness in your organization.
What are the exit clauses?It may involve a couple of rounds of iteration before it is finalized. Note that this article is designed to touch upon the process that is used for strategic planning in a corporate setting about which little has been written, rather than the tools that are needed to craft a strategy about which sufficient literature already exists. They might also have limitations on the resources available and the time horizon for the strategic plan. Rather than dwell upon the relevant merits and demerits of these tools, it’s important to determine how to take this learning to the next level and get organization-wide buy-in.
For instance, a changing tax regime for tobacco from specific taxation (fixed tax based on length of cigarette) to ad-valorem taxation (tax based on price) would call for a scenario planning type of exercise whereas the change in volume in response to a change in price would call for a sensitivity analysis.
Here it is important to note that the strategic plan is a roadmap for where the organization aspires to be in a couple of years and what it would look like when compared against the pre-decided decision criteria.
The following framework is one such attempt to throw some light on the process that can be followed by practicing strategic planners in order to craft the strategies of their respective organizations.
Status Quo AnalysisThis analysis assumes that the organization does not implement any major course correction over the planning horizon and carries on business-as-usual. Are they really decisions, or are they merely an articulation of statement of intent that’s important for their respective organizations? Also, it’s important to get buy-in on what would be the criteria that would be used by the management team to choose from various strategic options that the team will subsequently develop. The organization continues to develop operational effectiveness and tactical initiatives to achieve higher profitability, lower cost structure, and increased market share. The purpose of doing this exercise is to create a baseline that sheds light on where the organization might be in a few years’ time, had it been business-as-usual. Maximizing market share and profitability in a manner that increases shareholder value while minimizing cost, basically means that the decision maker doesn’t know what he wants and is hedging his bets. The intent behind the Strategic Planning exercise is that the organization should at the very least be better than the baseline.
Deconstructing the plan into specific activities, timelines, responsibilities etc is part of deployment of strategy. Wouldn’t your competitors in the same industry say similar things about their intent?
Strategic Options GenerationThis step involves formulation of widely different but equally viable strategic options that might be available to the firm in question, and is often the most complicated of all the steps.

Deployment of StrategyNow that you have a strategy document which has been agreed to by the leadership team, what are you supposed to do? Having loosely defined criteria results in an inability to choose and sign off on a particular strategic direction.
Also, it becomes important not to have too many criteria or else the practicising manager faces the possibility of having multiple strategic options, many of which may meet some decision criteria, thereby making decision making difficult if not impossible.
The skill of the practicing strategist lies in getting the leadership team to articulate the logic behind a particular strategic option rather than moving directly into an evaluation stage.
This enables line-of-sight between the overall corporate objective and the key result areas of the foot soldiers, as can be seen from the chart below.It is the role of the practicing strategist to deconstruct the strategic plan into its various elements and ensure that they are put into timelines with clear responsibilities that dovetail into the Performance Management System within the organization. Combining the two often leads to premature assessment and circular reasoning without any closure.The quality of the industry analysis done, gaps highlighted, relative positioning in the industry versus competition and consumers, as well as understanding of revenue drivers and key success factors, all play a critical role in framing different strategic options.
Options Assessment and EvaluationThis step is often executed in conjunction with the project team one level below the Senior Leadership Team.
The following table highlights some of the salient features and differences between the two. Significant financial analysis is involved at this stage and all modern tools of sensitivity analysis and scenario planning are used. Many times people ask whether Strategic Planning as a discipline is still relevant today, given that business conditions change so rapidly. The advent of technology, globalization, hyper competition, increasing legislation, and shortening of product life cycles are all making the business environment increasingly complex and shortening the planning horizon. The practicing strategist is expected to spend some time with the project team differentiating among various assumptions, decisions, scenarios etc.
The nature of the planning exercise needs to be adapted to reflect the nuances of the industry in question and economic conditions prevailing at that point in time. The fundamental principles of planning such as direction setting remain the same, only the application needs to be modified. However, the subsequent volume that one could achieve in the future as a result of the price, among other things, is an uncertainty hence assumptions around it would need to be made. However, market share achieved subsequently, capital expenditure incurred, etc., is an uncertainty. Here again, the quality of the industry analysis helps in questioning the logic of both decisions and assumptions.

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