Strategic Planning
Business should always be focused towards a goal, too often business lack direction and are allowed to “drift”. It is critical that business owners keep one step ahead of the competition.
Business should always be focused towards a goal, too often business lack direction and are allowed to “drift”. It is critical that business owners keep one step ahead of the competition.
The Process
- Define the organization’s mission, vision and core values.
- Research tendency’s, markets and the industry to identify and/or innovate potential business areas, products and services.
- Explore each market for emerging threats and opportunities.
- Identify current and future purchase decision structure of targeted customer segments.
- Develop an extended SWOT Matrix for the organization relative to competitors and determine which elements each of your customer segments assigns the most value to in your offering.
- Identify and evaluate alternative strategies.
- Identify, tailor and implement an advantageous business model which will set the company apart from its competitors.
- Define stakeholder expectations and establish clear and compelling objectives for the business.
- Prepare programs, policies, and tactical plans to implement the defined strategy.
- Define, create and launch organizational structures, decision processes, information and control systems reach your objectives.
- Define and allocate resources to develop critical capabilities.
- Plan for and respond to contingencies or environmental changes.
- Monitor performance.
- Reevaluate your tactics.
What does the Strategic Planning Process achieve?
- Change in the direction, performance and results of a business.
- Creates awareness of opportunities and threats to the organization and its way of doing business.
- Establish a baseline for decision making in the organization.
- Set a proper context for budget decisions and performance evaluations.
- Train managers to generate better information to make better decisions.
- Increase confidence in the business’s direction.