Strategic planning is the act of making strategic decisions, usually with the help of a committee, of allocating the resources of the organization to implement that strategy. The purpose of strategic planning in business is to lay out a blueprint for the organization, showing how it will get to where it wants to go, in a systematic and coordinated way. It also helps to reduce errors and maximize the potential of the organization. If a business is planned correctly, it can serve its purposes for many years and even decades. Some people view strategic planning as a form of planning. However, the reality is that strategic planning in business is much more than a plan – it is a way of thinking, a set of methods, and a set of values that serve as guidelines and guideposts to guide the organization towards certain desired outcomes. Read More – http://earthship.tv
What Is Strategic Planning?
Strategic planning should be done periodically with a view to see how people outside the company perceive it and how it is being executed. It should also be done with the knowledge that the goals and objectives will be different depending on the current status and condition of the organization. A strategic plan is made by someone other than the senior management of the organization, usually the president, the CFO, and a few key staff members. In some cases, strategic planning may be done by a group of people outside the organization, such as business owners, suppliers, investors and sometimes even employees. When strategic planning is done by a committee, the committee members should try to make sure that they understand the full implications and impact of the strategic plan.
Although, at the end of the strategic planning process, it is the company’s objective to reach its defined objectives, that does not mean that the process has to be tedious and boring. It can actually be enjoyable, if it is done properly. Just remember that the purpose of the strategic planning process is to define what your company’s vision is and then lay out a plan to reach that vision. It can be a long and difficult road, but it can be a very rewarding one when the road map you have created becomes a reality.