For any company or business leader that has undertaken strategic planning, you understand that tapping into the expertise of an outside partner can be an excellent investment. A firm skilled in conducting strategic planning will facilitate, provide a fresh perspective, and enable leadership to participate rather than lead planning sessions. But how can a company find the right firm?
Below, we outline key considerations as you look to develop or revise the strategic plan for your firm, plus we provide our choices for the top five strategic planning firms in the greater Philadelphia area.
Why Strategic Planning?
Strategic planning is a comprehensive process that involves setting goals, identifying opportunities and threats, and outlining specific actions to achieve long-term success. By engaging in strategic planning, mid-size companies can gain clarity on their mission, vision, and values, align their resources and capabilities, and adapt to changing market conditions. The result is a roadmap that guides decision-making, improves resource allocation, and increases the likelihood of success.
According to a survey by the Harvard Business Review, companies that engage in strategic planning outperform those that do not. The study found that companies with a formal strategic planning process had a 12% higher market value than those without.
Arguably the most important advantage of mid-sized companies undertaking the process of strategic planning – and a key reason to undertake the process – is that it helps leadership and their teams anticipate and prepare for future challenges. By analyzing market trends, customer preferences, and competitive forces, companies will identify potential threats and opportunities and develop strategies to mitigate risks and capitalize on emerging trends.
This proactive approach to business planning will help mid-size companies avoid costly mistakes and stay ahead of the competition.
Moreover, strategic planning can also help mid-sized companies build a cohesive and motivated workforce. When employees understand the company’s mission and vision, they are more likely to be engaged and committed to achieving the organization’s goals. A strategic plan can provide a sense of direction and purpose for employees, helping them feel more connected to the company’s overall vision.
Identifying the firm for my company
When determining the best firm to work with, there are three important steps to take:
- Define your goals and objectives for the strategic planning process. This will help you identify the specific skills and expertise you need in a consulting firm.
- Schedule a consultation with any company you will potentially partner with to discuss your goals and objectives defined above. Learn more about their approach to strategic planning, and importantly ask for references and case studies to evaluate their past performance.
- Consider the firm’s culture and values to ensure a good fit with your business. It’s important to work with a firm that shares your vision and has a collaborative approach to strategic planning.
Top Firms in the Philadelphia Area
The Philadelphia area has a wealth of companies that can help you and your team navigate the strategic planning process successfully. Here are five:
Empirical Consulting Solutions:
The ECS team works directly with your leadership team and facilitates your strategic planning process.
We deliver a roadmap that will grow your organization with aligned stakeholders, goals, strategies, and programs that are clearly communicated and strategies to successfully engage team members and external parties.
We know how to guide the process, so your team sees tangible, lasting results moving into the future.
EOS:
EOS is a simple, proven business operating system that can help your entrepreneurial organization clarify, simplify, and achieve its vision.
In 2010, I started my own firm to help small and midsize organizations build and execute their growth strategies. Seven years later I learned about EOS and quickly decided to become a Professional EOS Implementer. It’s been exciting to watch my clients make great improvements in their businesses with EOS. I love seeing them reach new levels in revenue growth and become more cohesive, effective leadership teams rather than a group of individuals who make detached decisions.
PPT Consulting:
Business Transformation, whether driven by M&A activity, new corporate strategy or the need to affect the bottom line, requires the alignment of People, Process and Technology with business strategy and vision.
And in most cases transformation centers on process improvement and optimization, commonly enabled by technology. PPT provides end-to-end services for companies facing Business Transformation on any level.
From determining transformation strategies, identifying process improvement opportunities and technology recommendations to managing implementations and defining the best support model to sustain the organization going forward, PPT can help.
Liberty Business Strategies:
Every member of our consulting team has had P&L responsibility in a corporate setting before joining our team.
Almost all team members had MA, MBA or doctoral degrees; all are certified with various tools. Members of our team are fluent in English, French, German and Polish.
We have all been seasoned by working through fluctuations in the economy, company growth spurts and downturns, and the machinations of company reconfigurations.
McKinsey & Company:
We accelerate sustainable and inclusive growth. Our clients are always pushing forward. Testing. Challenging. Striving for the change that changes everything.
We partner with bold leaders every step of the way. Pinpointing the strategy that will reshape tomorrow. Harnessing innovation to reach net zero. Transforming through technology. Developing skills and capabilities across their organization. Together we’re accelerating toward a more sustainable, inclusive, and growing future for all.
It’s always a good time to develop a strategic plan or update one if it hasn’t been reviewed on an annual basis. At Empirical, partner with companies to build a strategic plan that will help drive business success. We do it by understanding your ultimate goal(s), and then helping build the path to get you there.
Want to talk more about your business strategy? Have questions or challenges that you’d like someone to review? Give us a call and we’ll have a chat. Contact us via email at hello@thinkempirical.com or give us a call (610) 994-1139.
