Phronesis Group Consulting Strategic Planning
What is it to strategic planning?
Strategic planning is a process in which an organization's leaders define their vision for the future and identify their organization's goals and objectives. The process includes establishing the sequence in which those goals should be realized so that the organization can reach its stated vision.
"Strategy is the direction and scope of an organization over the long-term which achieves advantage for the organization through its configuration of resources within a challenging environment. The six vital elements of strategic planning: vision, mission, objectives, strategy, approach, and tactics.
Why is strategic planning important?
Having a great strategic plan in place can enable you to track progress toward goals. When each department and team understands your company's larger strategy, their progress can directly impact its success, creating a top-down approach to tracking key performance indicators.
What are key elements of a strategic plan?
Step 1: Environmental Scan.
Step 2: Internal Analysis.
Step 3: Strategic Direction.
Step 4: Develop Goals and Objectives.
Step 5: Define Metrics, Set Timelines, and Track Progress.
Step 6: Write and Publish a Strategic Plan.
Step 7: Plan for Implementation and the Future.