Strategic Planning – The Meeting: Defining Values and Purpose

by | Oct 15, 2018

Part 6:Strategic Planning – The Meeting: Defining Values and Purpose

By: KHA Consulting Team

The following is part nine of a nine-part series on strategic planning. This blog series includes identifying the need for strategic planning, setting a level playing field, defining the organization and its purpose, and selecting the initiatives, goals, and actions that will make the organization successful.

Previously we reviewed mission and the ‘why’ of the organization’s existence. In order to continue to reach toward that ultimate goal of mission fulfillment, what values and purpose should our people possess? When we hire, do we consider fit by evaluating what frameworks we have deemed necessary for success in the organization? Can our people clearly state what we do and how we are different from competitors?

VALUES

Like your mission, some values are everlasting and do not change, however, other values should change as the organization matures, grows bigger, and learns how to compete in the ever-changing marketplace.

What are values? Values are an attempt to answer how the employees of X organization operate and what is core to the organization. You should ask yourself, your key leaders, and employees, “What values do we hope to have as an organization in one year, two years, five years, 10 years, etc?” “What values are currently resembling weeds in our garden that need to be plucked or doused with RoundUp?” Across your organization’s matrix of values, you must identify the values most critical to the success of your organization and its mission. Values that may sound right but are not distinct from your competitors should be re-evaluated and replaced with values that are specific to your organization.

KHA Management Consultants has frameworks for identifying and solidifying your organization’s values. These frameworks will help you across several parameters as you begin your strategic planning.

WHAT DO WE DO?

Your company provides either a tangible or an intangible product that comes with excellent customer service. All businesses should strive to provide either a tangible or intangible product with excellent customer service. I can assure you, however, that all organizations are saying this; some are doing it, perhaps even better than your organization is currently. Unless you are in a highly fractured industry where the levels of customer service offerings are opposites, answering that you provide a product with excellent customer service is not a good answer or definitive answer to give to this question.

Your answer must be brief and have the capacity to be refined over time. Answering the “what do we do” question is one of the most critical exercises to take your management team through. Everyone, including stakeholders, leaders, and all employees in your organization must truly understand and believe that what your organization does makes a difference and that your organization specifically is best equipped to meet the needs of the marketplace and consumers around it. In answering this question on what your organization does, management must balance aspiration and pragmaticism. If your organization’s “do’s” are too pragmatic, consumers and employees will not be drawn to your organization’s solution, whereas if your answer is too aspirational, people will doubt it, or worse, they will mock your solution. Your organization’s answer must anchor your team together, and when decisions are made, your decisions should all be evaluated through the lens of this answer.

THE CRITICAL NEXT STEPS

We know who we are, but how do we cross the chasm to success? What specific items should we be doing?  What should we be proactively thinking about, and how can the company benefit from our actions?

We understand our organization, its mission, values, and vision, but where do we get started to make it a successful company that will withstand generations and generations of change?

Ideas lead to success. What did the opening sentence to this paragraph make you think? Ideas do not lead to success, at least not directly. Ideas that are well thought out with economic logic and are combined with sound execution lead to success. A CEO of a Fortune 100 company once said, “I have more ideas than I know what to do with; I need people that can sell and execute them!”

Solving this problem of having too many ideas is one thing, while another more difficult problem is setting plans in motion to see that execution of the good ideas occur. Our focus areas in the next installment will be on organization strategic initiatives, goals, and actions. Using the three latter pillars of strategic planning will allow you and your team(s) to be synced at the beginning of the planning phase, during the execution of the strategic plan, and at the end of the process when a celebration is due.

At KHA Management Consultants, we have experience working with organizations on Strategic Planning. We facilitate the process with the organization’s key constituents to ensure buy-in, ownership, and a new way of thinking about the organization and its stakeholders among all levels of employees. From a resource perspective, we primarily use our experience but also tap into the top-level resources such as those provided by Harvard Business Review and MentorPlus. Some of those materials, frameworks, and lessons have been used in writing this blog.

KHA Management Consultants, the consulting wing of KHA Accountants, PLLC, based in Flower Mound, Texas, is always looking for key clients ready to take their business to the next level. If you have a desire to improve, take the first step toward success with the strategic planning experts, and contact us at 972-221-2500.

When “Creative” Tax Deductions Invite the IRS to Your Door

What do an arsonist’s fee, a family dog, and a backyard fallout shelter have in common? They’ve all been claimed as tax deductions — and they all earned the kind of IRS attention no taxpayer wants. While most people aren’t pushing the limits quite that far, the truth is that questionable deductions don’t have to be outrageous to trigger an audit.

Are Taxes Driving Americans to Pack Up and Move?

Millions of Americans are moving — and tax burdens are part of the equation. New IRS data shows high-tax states like California and New York are losing billions in taxable income to no-income-tax states like Florida and Texas. The numbers tell a compelling story.

What Business Owners Must Know About Net Operating Loss Rules in 2025 and Beyond

The pandemic-era flexibility is gone, and the One Big Beautiful Bill has locked in the TCJA’s NOL rules for the foreseeable future. If your business is still planning around old assumptions — like the ability to carry losses back or fully offset taxable income — it’s time for a reset. Here’s what you need to know heading into 2025 and beyond.

Texas Limited Partners Get Good News from the Fifth Circuit — But Don’t Skip the Planning

If you are a limited partner in a Texas-based business, a January 2026 federal court ruling just changed the rules in your favor — and the savings could be significant. The U.S. Court of Appeals for the Fifth Circuit rejected the IRS’s long-standing “passive investor” test and ruled that any partner in a limited partnership with genuine limited liability qualifies for the self-employment tax exemption under IRC Section 1402(a)(13) — even if you actively work in the business. With self-employment tax running as high as 15.3%, the financial impact of this ruling can be substantial. But the law is still unsettled outside Texas, and the details matter. Read on to find out what this means for your tax strategy and what steps you should be taking right now.

Real Estate and Cost Segregation

Learn more about cost segregation studies and found out if performing one is a smart next step for your real estate portfolio.

Building a Family Limited Partnership That Lasts: What High-Net-Worth Families and Business Owners Need to Know

Most business owners think about succession planning far too late. A Family Limited Partnership, when established early and managed with discipline, gives founders something rare: the ability to transfer economic value to the next generation gradually, deliberately, and on their own terms — without giving up operational control in the process. It is one of the most effective wealth transfer and succession planning tools available. It is also one of the most scrutinized by the IRS. Before you build one, make sure you understand what it takes to make it last.

Manufacturers: A New Tax Break Could Let You Write Off Your Entire Facility on Day One

Congress just handed manufacturers one of the most significant tax incentives in decades. Under the new One Big Beautiful Bill Act, qualifying businesses can now deduct 100% of the cost of a new production building in the very first year it is placed in service — instead of spreading that deduction over 39 years. For a business investing $5 million, $10 million, or more in a new or expanded facility, that difference could be transformational. But the rules are strict, the election is irrevocable, and the clock is already ticking. Read on to find out if your facility qualifies and what you need to do before you file.