The following joke has stuck with me since I was a kid: The Green Giant stands over the corn and peas.
In the evolving landscape of professional services firms from leadership transitions to mergers and acquisitions, strategic planning is essential. Yet, confusion can arise when fundamental strategic business planning tools are perceived as marketing-centric rather than business-centric. Perhaps, strategic business planning tools such as the four Ps of marketing (I humorously associate with the Green Giant joke) unintentionally fosters this confusion. Jokes aside, going to market has and continues to evolve due to accelerating changes in society.
Many strategic planning tools have surfaced since the 1950s when Neil Borden was credited with popularizing the four Ps. Even though the four Ps of marketing tends to indicate marketing-centricity, it is one of many tools meant to foster executive team collaboration by integrating an organization’s purpose with strategic operating decisions. Conversely, there are business-centric tools such as the V/TO or the Business Model Canvas... that were developed more recently than the 4Ps of marketing tool and were built to intentionally foster cross-functional strategic business go-to-market decisions.
What tools do you prefer for strategic planning? Share your insights in the comments below!
I’ve enjoyed challenges at the executive level and the opportunities that arise from understanding and applying elements from a diverse set of strategic business planning tools to companies beyond my primary industry, drawing valuable lessons for my core market. A compelling example is the Wall Street Journal article: “The Executive Who Revived Barbie Has a New Long-Shot Mission: Save Gap.”
For example, several strategic business planning decisions can be inferred from this section of the article:
Dickson is in stores constantly and one thing that irked him right away was the sleepy music. “It was like spa music,” Dickson said. “We should be playing music that gives you a bump in your step, that when you try something on, makes you feel like you have a little attitude.” He directed his store managers to play happier music and turn up the volume.
On a subsequent store visit, the music was snappy. It was also earsplitting.
“It’s very loud,” Dickson recalled telling a sales associate, who didn’t know he was the CEO.
She agreed that the music was loud, he said.
“Why don’t you turn it down?” he asked her.
Because she was under strict orders to turn it up, the sales associate responded.
Earlier in my career, the executives I worked with questioned some of the traditional tools as they felt the tools didn’t address professional services specifically. The beauty of tools like these is in how they are applied and how they help define strategic operating decisions for creating value for customers, clients, society…
Through luck, I found Marketing Plans for Service Businesses by Malcolm McDonald and Adrian Payne. Their book expands on the four Ps of marketing and reinforces what I knew of traditional strategic marketing planning constructs related to professional services specific to the value barriers my executive-level partners perceived.
Malcolm and Adrian expanded on the four Ps of marketing and offer a six Ps (again triggering the corn and peas joke) plus customer service strategic business planning tool. These three additional fundamentals were the light bulb in my head - reinforcing an intentional understanding of the value of cross-functional leadership integration and partnership for making strategic operations and organizational choices that strengthen and inform the efficacy of marketing investments.
Simply, this is Malcolm’s and Adrian’s iteration of the four Ps of marketing:
Applying this strategic business planning tool to the Gap example reveals:
- The sales associate knows the music is too loud for their customers: People.
- The manager followed Dickson’s direction to play happier music and turn up the volume – but how loud?: Processes & Customer service.
- I’ll presume there is new guidance on volume levels in stores: Processes & Place.
- Dickson, Gap’s CEO, visiting stores (article shares a mandate for leadership to regularly visit stores across the Gap portfolio of brands): People & Processes.
Key Takeaways for Professional Services Executives
- Strategic business planning tools perceived as marketing-centric offer broad organizational value.
- Fundamental business principles apply across industries and organizational structures.
- Visionary leadership, cross-functional partnerships, and active executive participation transform organizations.
I always enjoy seeing success coming from hard work. Based on this Wall Street Journal article about the Gap: “Gap’s Look Is Finally Back on Point,” it looks like Dickson’s executive team is integrated, are activating the strategy, and are not like the Green Giant standing over the corn and peas.
Silos are best used in agriculture to store fermented feed. Are you seeking to break down strategic business planning silos to optimize your go-to-market opportunities? I help professional services firms navigate the complexities of applying cross-functional strategic business planning tools for impactful growth. Optimizing the growth potential of crops needs more than a strong fertilizer plan. Your strategic planning business tools should reach across and engage each of your core functions and all your business operating decisions. Reach out to connect for a conversation as your next step to optimize your integrated strategic planning.
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