Developing the strategic plan
What are we best at?
There are many different ways to create a strategic plan. We've found the "hedgehog concept", developed by Jim Collins, works well for a range of trusts, whether they're big or small.
This step is about defining your potential — the area you want to really invest in and be exceptionally good at to be able to achieve your goals.
Consider what you have the potential to be best at, as well as what you may never be best at — there's no point putting effort into something you can't succeed at. And, think about what your priorities are as a trust – what you want to focus on.
For example, this could be:
- creating a model of governance and management excellence
- balancing social and cultural needs with economic and environmental requirements
- identifying talent and capability within the whānau, and understanding how it can be used to benefit both the whenua and the owners.
Discuss what you're doing now, what you're trying to achieve, and what might need to happen to get you there.
Work through a SWOT analysis — discuss and write down your:
- strengths
- weaknesses
- opportunities
- threats.