What is Strategic Planning?
Well-known strategist and author of “How to Transform Strategic Initiatives into Blockbuster Results“, Sam Bodley-Scott defines Strategy as that collection of choices that defines the nature and direction of your business. Strategic Planning is the process of making those choices and planning their implementation.
What Does Strategic Planning Include?
Strategic planing generally includes:
- Reviewing the external and internal context of your enterprise, including:
- Your mission, vision and value statements
- An analysis of your company’s strengths and weaknesses. and
- An analysis of the external factors that can influence or indeed interfere with your strategic intent, including political, economic, social, technical, environmental, cultural and legal circumstances and conditions.
- Establishing the time line over which your strategy will be applied
- Confirming the driving force that will produce business results
- Segmenting the landscape in terms of markets and product offerings to which your driving force will be applied, and quantifying the expected business results
- Determining the capacity and competencies your organization will need to acquire, develop or expand to achieve those results
- And finally, Defining and Planning the strategic initiatives that will pull it all together and make the magic happen
How Strategic Planning Will Benefit Your Organization
- Clearly Define the Scope of Your Activities
- Maximize Your Strengths
- Protect Against Weaknesses
- Take Advantage of Business Opportunities
- Ensure Compliance
- Strengthen Teamwork
- Increase Employee Engagement and Collaboration.
- Improve Business Processes
- Restore Business Performance
- Increase Productivity
- Eliminate Inefficiencies
Wondering if the time is right for Strategic Planning?
Contact Martin Rybiak P.Eng., Edmonton Certified Management Consultant, for a free consultation.
Phone: (780) 405-9417
Email: mrybiak@opsinc.ca