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Elements of a strategic plan

12/12/2008

8 Comments

 

Following my many readings on strategic planning and combining the theory with my experience, here are the sections of a solid strategic plan with the critical questions for each.

Hope this helps in planning the growth in your businesses. I know it helped me (and my clients) a great deal.

---------------------
Mission statement
- To define the organization's core purpose.
- Why do we exist ?

Vision
- To explain where you are headed, your future state.
- To formulate a picture of what your organization's future makeup will be and where is the organization headed.
- What will your organization look like in 5 to 10 years from now ?

Values statement or guiding principles
- To clarify what you stand for and believe in.

SWOT
- To assess the particular strengths, weaknesses, opportunities, and threats that are strategically important to your organization through        Market Attractiveness and Business Strength

Competitive advantage
- To define what you are best at.
- What can your organization potentially do better than any other organization ?

Strategic objectives
- To connect your mission to your vision.
- Strategic objectives are long-term, continuous strategic areas that get you moving from your mission to achieving your vision.
- What are the key activities that you need to perform in order to achieve your mission ?

Strategies
- To establish a guide that matches your organization's strength with market opportunities to position your organization in the mind of the customer.
- Does the strategy match your strengths with how you will provide value to and be perceived by your customers ?

Short-term goals / priorities / initiatives
- To set goals that convert the strategic objectives into specific performance targets.
- Effective goals clearly state what, when, how, and who and are specifically measurable.
- What are the 1 - 3 year goals you are trying to achieve to get to your strategic objectives ?

Actions items / plans
- To set specific action plans that lead to implementing your goals.
- Are your actions comprehensive enough to achieve your goals ?

Scorecard
- To measure and manage your strategic plan.
- What are the key performance measures you can track in order to monitor whether you are achieving your goals ?

Financial assessment
- To determine whether your strategic plan makes financial sense.
- Do the estimated revenue projections exceed your estimated expenses ?

8 Comments
bruno boutot link
12/12/2008 07:08:03 am

Excellent.
I will use it.
Thank you, Jean.

Reply
play video poker link
5/2/2009 07:02:47 pm

I think vision and customer's satisfaction should be the core perspective the businessmen should pay attention to.

Reply
silk ties link
1/4/2009 11:32:01 am

I have to agree it's hard to explain to people what we do, and when you try to break it down for people a little more they go right back to the begining and say "So your some sort of engineer, right?"
Depending on my mood at the time dictates if I'll keep trying to explain it any further.

Reply
Travel Deals link
15/4/2009 10:10:03 pm

Department managers express their perception of a lack of IT responsiveness and their opinion that IT seems to be working on the wrong issues. Again, there are usually not a lot of specifics provided unless I pull it from them.

Reply
Cricut Expression link
26/4/2009 11:24:36 pm

Thanks for such precious tips. The elements of strategic plan are really of more importance.

Reply
LondonMgr link
7/5/2009 09:22:11 pm

No fuss, right to the point.
Thanks Jean.

Reply
Somnath link
27/5/2009 03:02:53 am

Nice post....Jean.... <a href="http://www.haircareetc.com/">hair loss treatment products</a>

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Aanna Weber link
10/6/2016 05:28:53 am

Strategic Planning for new companies is required to outline projected small business growth into future. Strategic Plan are made to facilitates the small business owners with a road map that helps them indentifying and defining where they expect to see their business at future date. It includes your small-business mission statement; your products and marketing strategy; the role of employees in future growth; monetary-performance goals and objectives; additional resources that you will need to reach your goals; and analysis of your small-businesses strengths and weaknesses. Drawing from over 32 years of business experience across a broad spectrum of disciplines, AGC founder Alan Gavornik https://goo.gl/Ptc0bf maintains hands on expertise in the areas of corporate formation and start up, capital round financing, growth and expansion initiatives, sales and marketing, and exit strategies. This business prowess is further enhanced by AGC network of industry experts which are available to compliment an engagement as needed.

Consulting services are available in the following areas;
• Strategic Business Development
• Sales and Revenue Growth
• Capital Financing
• Product Development and Distribution
• Exit Strategies

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  • Home
  • Professional
    • Being a CTO
    • CTO Roles
    • Experience and Clients
    • Companies I built
    • My Management Framework >
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    • Personal Faith
    • Photo Shoot
    • Social Involvement
    • Distinctions
    • Public Speaking
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