Strategic Planning: A Roadmap for Success

Generated by Copilot

What Is Strategic Planning?

Ever heard the saying “Failing to plan is planning to fail”? That’s the essence of strategic planning — a systematic process of defining an organization’s direction and making informed decisions on allocating resources to pursue this strategy. It helps organizations to move forward with clarity and purpose, securing a stronger, more competitive future.

Key Elements of Strategic Planning:

· Mission & Vision: What does the organization stand for? Where does it want to go?

· Environment Analysis: Identifying Strengths, Weaknesses, Opportunities, and Threats.

· Strategic Issues: The major challenges that could impact success.

· Action Plans: Defining specific strategies, programs, and resources needed.

· Implementation & Measurement: Execution and tracking progress to ensure accountability.

A 10-Step Strategic Planning Process

Companies typically follow a 10-step process in their strategic planning:

1️. Initiate the process & get agreement (Leadership alignment is key!)
2️. Identify organizational mandates (Legal, regulatory, and internal obligations.)
3️…