10 Effective Steps for Strategic Planning Process

 

business strategic planning process

Nov 17,  · Strategic Planning Steps 1. Analysis of the current state. 2. Defining the future state. 3. Determination of objectives and strategies. 4. Implementation and evaluation. Jul 22,  · The complete strategic planning process Successes and results from past strategic plans, environmental scans, and staff surveys. PESTLE: Outside of your business, there are many factors that affect how you can do business, SWOT: Throughout the strategic planning process, you'll also have to. Strategic planning is a management activity and a process that defines the direction and the objective of a business over the long term-It defines how resources should be allocated. Goal of the Business Strategic Planning Process. A strategy helps business managers to take actions in the face of new threats and opportunities.


Five Steps to a Strategic Plan


A strategic plan is a document that establishes the direction of an organization. It can be a single page or fill up a binder, depending on the size and complexity of the business and work. Most managers can benefit from having a strategic plan. The process of developing a plan helps the business strategic planning process and the team step back and examine where they are, where they want to go, and how to get there.

There are seven basic elements of a strategic plan. While there can be much more included in the plan, these seven elements will help you get started. A vision statement describes the way you envision your business. As such, it should communicate that dream to your employees and customers in an inspirational manner.

A vision statement should be reviewed continuously to ensure it is still aligned with the way you see your company. Harley-Davidson's vision statement focuses on keeping its brand internationally known and valued, using the combined power of its stakeholders and employees to drive value and innovation:.

Harley-Davidson, Inc. It often describes what you do, for who, business strategic planning process, and how. Focusing on your mission each day should enable you to reach your vision. RedHat has been a provider of Linux operating systems for over 25 years. It has a simple mission statement:. To be the catalyst in communities of customers, contributors, and partners creating better technology the open source way. A vision and mission can also be combined in the same statement. The Walt Disney Company does this:.

They are the beliefs you have that will enable you to achieve your vision and mission. SWOT is an acronym for strengths, weaknesses, opportunities, and threats, business strategic planning process.

A SWOT analysis provides businesses a situational investigation into their position in the market. It allows you to spot and name the important aspects, happenings, and adversaries of your business. A business' strength could be its ability business strategic planning process attract local customers, while its weakness might be an inability to break into a non-local consumer base.

A local competitor with ties to non-local customers could be facing a financial situation, giving this business an opportunity. However, the other business remains a threat if it pulls out of the crises. If another competitor is trying to expand its customer base, it is a threat as well.

This set of goals usually starts three years out and extends to around five years into the future, directly aligning with the mission and vision statements. Long-term goals are the milestones a company sets to guide operations toward their far-reaching objectives.

Some examples of long-term goals could be for a business to strengthen its hold on the local market, increasing profits or expanding its operations and sales.

Each long-term goal should have a few one-year objectives that advance your goals. After you make your yearly objectives, you might break each one down further into short-term goals, which define the actions and objectives for the next three months to get you to your yearly goals.

The plans for achieving your short-term goals are your action plans. Each objective should have a plan that details business strategic planning process it will be achieved. The amount of detail depends on the amount of flexibility you want your managers and team to have. The more detail there is, the less flexibility those that follow it have. A plan without a vision is just drudgery. But a vision with a plan can change the world.

Some of business strategic planning process most successful corporations started in garages, and through planning became industry giants. By Dan McCarthy. The Coca-Cola Company lists it's core values as:. Leadership: The courage to shape a better future. Collaboration: Leverage collective genius. Integrity: Be real. Accountability: If it is to be, it's up to me.

Passion: Committed in heart and mind. Diversity: As inclusive as our brands. Quality: What we do, we do well. Article Table of Contents Skip to section Expand. Vision Statement. Mission Statement. Core Values. SWOT Analysis. Long-Term Goals. Yearly Objectives. Action Plans. Continue Reading, business strategic planning process.

 

4-Phase Guide to Strategic Planning Process Basics | OnStrategy

 

business strategic planning process

 

Jul 22,  · The complete strategic planning process Successes and results from past strategic plans, environmental scans, and staff surveys. PESTLE: Outside of your business, there are many factors that affect how you can do business, SWOT: Throughout the strategic planning process, you'll also have to. Nov 17,  · Strategic Planning Steps 1. Analysis of the current state. 2. Defining the future state. 3. Determination of objectives and strategies. 4. Implementation and evaluation. Overview of the complete process: Getting Started: Introduction. The strategic management process is about getting from Point A to Point B more effectively, efficiently, and enjoying the journey and learning from it. Part of that journey is the strategy and part of it is execution.