Simply stated, strategic planning is the first step toward improvement and growth.
Strategic planning is a recommended process utilized globally by companies from essentially all business and market sectors. Leaders, managers, board members and sometimes employees gather to discuss the who, what, where, when, how, and why. The outcome: The creation of a common strategic "roadmap" for the entire organization. The roadmap provides a universal language and a basis for goal setting.
The strategic plan is a useful starting point or supplement to the business plan because it typically captures the additional factors affecting the operational, marketing and financial requirements of the company moving forward.
The most commonly addressed strategic planning topics include:
- Shared mission and vision
- Key goals and objectives
- SWOT analysis
- Target markets
- Competitive landscape
- Critical success factors
- Knowledge analysis
- Performance indicators
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