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Strategic Planning for LSPs
by Hélène Pielmeier, Donald A. DePalma
October 01, 2013
October 01, 2013

 
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Summary
Executives at language service providers (LSPs) must periodically take a step back and look at the full picture of their service or technology business. They should do that at least once a year. However, given the fast pace of projects or the lack of business skills, these best intentions for strategic planning often fall by the wayside. This report lays out a methodology that will allow any LSP executives to reach their objectives.

In Common Sense Advisory’s partner program, we guide LSPs through the journey of strategic planning. This report uses that experience and feedback from participants in the program to provide a framework to do it on your own. It also relies on our qualitative and quantitative research from the last 11 years.

The guide is especially useful for small to mid-sized LSPs that don’t do any formal strategic planning today, have not updated their plan in a while, or are struggling to do so. Larger organizations will find this report helpful as they refine their analysis and planning or formalize their process.

The report includes the following sections:
  • Overview. Why do you need strategic planning? This section describes the basics, from benefits to the process to follow.
  • Situation Assessment. Who are you? Where are you now? In this section, LSPs learn how to write a solid mission statement, perform an in-depth assessment of the state of their company, and complete a SWOT analysis.
  • Strategic Direction. What do you want to become? This section covers vision statement, objectives, and goals. It guides you to identify differentiators and select markets, assisting LSPs with determining what they can become.
  • Plan Design. How will you achieve your vision and get to the next level? We show LSPs how to convert the information from the two previous sections into strategies to achieve the objectives. We wrap it up by showing you how to monitor progress and make in-flight adjustments.
  • Related Research. We recommend other Common Sense Advisory research reports and briefs related to this topic.

Availability
  • Industry Providers
  • Technology Vendors
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Pages: 43
 

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