That may be the understatement of the year.
Between rapidly advancing technology, economic uncertainty, transforming demographic and lifestyle stressors, and a digitally-connected global community, the environment for club and leisure-related businesses is more competitive than ever.
The business landscape is shifting and management stances are evolving, yet the principles of competition endure: one’s gain is another’s loss and the strongest will come out on top.
Knowledge is a tremendous source of strength and GGA Partners is developing authoritative reports on the industry’s most pressing issues and constructing advanced problem-solving guides for the road ahead.
The New Urgency of Strategic Planning
GGA has released an update of its strategic planning whitepaper, which can now be downloaded from the GGA Partners website. It focuses on a misconception regarding the strategic planning process, according to Henry DeLozier, who along with GGA partners Steve Johnston, Rob Hill, Derek Johnston, and Michael Gregory authored the paper.
“Because of its traditional long-range horizons, many club leaders don’t prioritise strategic planning,” DeLozier said. “With conditions inside and outside the club environment changing as quickly as they are, there’s a new urgency to strategic planning.”
In addition, the whitepaper argues for a shorter planning cycle, ranging anywhere from 12 to 24 months, and a closer connection between strategy and execution.
“Businesses that are directly affected by shifts in the economy and consumer preferences should consider shorter planning cycles,” Johnston said. “Think about it: Would a five-year strategic plan created in 2015 successfully guide your business today?”
Today’s most successful clubs look at their strategic plan as a blueprint for action, Hill added. “They don’t put their plans on a shelf to gather dust. They’re implementing their plans, adjusting as needed and executing their vision for the club.”
For club managers not familiar with the strategic planning process, the whitepaper explains five key steps in developing a plan and draws on examples from inside and outside the private club business.
In addition to strategic planning, other whitepapers in the series focused on branding, governance, and innovation will be published through the third quarter of 2020. Discover more about the cross-section of high-impact topics GGA Partners is studying at ggapartners.com.