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FAQs
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What should a strategic plan include?
Mission, vision, and aspirations. Core values. Strengths, weaknesses, opportunities, and threats. Objectives, strategies, and operational tactics. Measurements and funding streams. -
What is included in a strategic plan?
Having a strategic plan can help. The key elements of such a plan include your vision and mission statements, detailed goals and objectives, and action plans and scorecards to help you track your progress. -
What are the five steps in the strategic planning process?
Clarify Your Vision. The purpose of goal-setting is to clarify the vision for your business. ... Gather and Analyze Information. ... Formulate a Strategy. ... Implement Your Strategy. ... Evaluate and Control. -
What is an example of a strategic plan?
Three common areas of focus in a strategic plan are vision planning, scenario planning and issues planning. Examples of Strategic Plan Includes: Evaluating the strengths and weaknesses of the organization. Developing a business plan template. -
What is an example of strategic thinking?
A SIMPLE EXAMPLE OF STRATEGIC THINKING Both recognize the need to work part-time to cover some expenses. Both want to have a reasonable social life, including relationships with members of the opposite sex. Both C and D did some planning for the coming academic year, but there were differences in their thinking. -
What makes a good strategic plan?
During the strategic planning process, an organization does three fundamental activities. They build or modify their foundational strategic vision and mission, commit to objectives or goals that drive the overall health of their organization, and develop a long-term plan to achieve those goals. -
What are the characteristics of a good strategy?
Furthermore, there are four basic characteristics of a successful strategy: goals that are simple, consistent and long term; profound understanding of the competitive environment; objective appraisal of the resources; and, effective implementation. -
What are the five types of strategy?
In 1987, the Canadian management scientist Henry Mintzberg distinguished five visions for strategy for organisations. He calls them the 5 P's of Strategy. They stand for Plan, Pattern, Position, Perspective and Ploy. These five components allow an organisation to implement a more effective strategy. -
What are the three stages in doing strategic planning?
The strategic-management process consists of three stages: strategy formulation, strategy implementation, and strategy evaluation. Strategy formulation is the process of establishing the organization's mission, objectives, and choosing among alternative strategies. -
What are the types of plan?
Three major types of plans can help managers achieve their organization's goals: strategic, tactical, and operational. -
What are plans in management?
In organizations, planning can become a management process, concerned with defining goals for a future direction and determining on the missions and resources to achieve those targets. To meet the goals, managers may develop plans such as a business plan or a marketing plan. Planning always has a purpose.
What active users are saying — signatory strategic plan
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ladies and gents Anthony Taylor here from SME strategy I just wanted to thank you for downloading your tool whether it's 15 questions the strategic planning template strategic planning assessment or something else and as an added bonus I wanted to run through the strategic planning process with you so that you could get the most out of your tool and bring the most value to your organization so I endeavor to do this in under 15 minutes so let's do it so strategic planning process when we do it there's basically four components there's where are we now where are we going what is going to get in our way and what do we need to do to get to where we want to go in our process our align strategy development process that we do here there's three types of alignment alignment with the leadership team so making sure everybody on the leadership team is on the same page that's board or leadership alignment with the vision and the strategy and alignment within the whole organization so top-down bottom-up everybody's on the same page so the first part of the strategic planning process is getting inputs where are we now that's things like doing an external analysis whether that's a SWAT or a pesto analysis you need to figure out what's going on outside of your organization as well as inside your organization as you build your strategy the second input that I would recommend is doing an internal analysis something like a stakeholder engagement survey or just management team inputs and that's why a strategic planning session is so valuable then we even do a survey before all of ours this is the overview of the strategic planning process so it starts with the vision where are we going then you'll get there by accomplishing your mission you'll have goals and objectives along the way that help you accomplish your mission that help you accomplish your vision and then the strategy is how you're going to accomplish your goals and the tactics are the individual pieces to your strategic plan so creating your strategic plan most important piece of this is the vision where are we going the future is uncertain but we as an organization have an opportunity to create that future so how do you create a vision that isn't just words a vision is super valuable to be able to motivate your people and inspire people to want to do more and contribute so a way to think about it is if success was a place how would we know if we got there where are we going why should we go there and what is winning we're creating the future however long it is from now and we want to be as descriptive as possible on the outset so what do you see for your organization in three to five years or maybe ten to twenty five years what's a big goal within that vision that could polarize your team and ideally that one big target everybody can contribute to it what's really important for them to describe the vision as vividly as possible so what do operations look like what a staff look like what a clients look like how else does your organization look different and think of it like a blueprint for a house that's what you're building the next piece to this is the mission and the purpose if you complete your mission you will move forward towards the vision why do you exist what do you do it for who is your main customer and what do you do for them it's important to realize that you have to make it simple to understand no buzzwords and this is not a mech marketing exercise this is at the core foundation of why your organization exists so the next piece that helps the mission stay together our values within the organization you can use values or culture but it's really the DNA of your organization what do you value currently within the organization what are the cultures and norms of your organization and of your people why are they important what values are important to them how would you describe the organization if it were a person good or bad what is the way we do things around here if you're explaining it to somebody new what's not acceptable behavior it's important for you to recognize that values drive performance it ties the whole strategy together so again you have to align your strategy with your vision and your purpose if you accomplish your purpose your mission and then you will be closer to accomplishing your vision so here's some risk what's going to get in our way leadership if you don't have the whole management team on board it's going to pull your strategy because they're the ones giving the marching orders to your staff and your employees communication this is the biggest hindrance to a successful implementation because people don't know what the plan is they don't know what they're doing and they're withholding important information that is really crucial to the plan resources if you don't give enough time or money to put something in place then it's just not going to happen and then buy-in do you want to be creating a plan and pushing it on your people or do you want them to buy into the plan because you're allowing them to contribute and move forward on it themselves so other implementation contains constraints time budgets human resources technology and pretty much anything you can think of it's waiting around the corner and there are opportunities in the planning process to identify them create impact studies as well as mitigation plans to minimize the downside of these risks so what uncertainties exists for us what are the impacts of those uncertainties what is the likelihood of that happening and what can we do to mitigate that risk that way you are proactive instead of reactive and it keeps your plan on task so one of the most important things you should be doing in your organization to accomplish your mission and your vision strategy inherently is about choices and there are million in one choices every single day so when you create the plan you need to work backwards to create the tasks the roles the individual areas of responsibility and you can just look right now how do you create work plans as it exists this is one of the tools that we actually sell an SME strategy and this is the pyramid the purpose in other words and we just say hey focus on a handful of objectives don't do too much do the strategic priorities well make significant progress on them and then move forward from there ideally your strategic priorities help you accomplish your mission help you accomplish your vision it's all alignment and then from there you have to put the specific objectives and initiatives the strategies and tactics underneath as well as KPIs so KPIs performance measures and targets how are you going to measure your strategic priorities how are you going to know if you are successful and this is really important you have to have a scoreboard for your people they need to know how they are going to be successful in your plan if you don't have that then they're just going to be working with less aim almost aimlessly and it will really hurt you coming by it so this is the balanced scorecard you can find this on SME strategy or anywhere else or your organization fundamentally does four things there's financial metrics its customer metrics there's learning and growth metrics and there's internal business processes and from each you have objectives measures targets and initiatives that all roll into your strategy and that help you accomplish your mission so another important piece of that are cascading goals so think of the goals from the organizational level the team level the functional level and the individual they all should roll up into the ultimate goal of the organization and so this can be designed you can't really be done run in one meeting it needs to be done over time and everybody needs to know how they can do their part to contribute to the strategy so big picture versus practical application there's people that you have to manage so who are the key people in your organization that are responsible for functional areas where are gaps as far as key functions that you have right now and are there people responsible for more than one area that basically means who is going to be the human being not the department that is responsible for moving these strategic initiatives for the buck has to stop with a person and people can be hard to manage communicating the plan like I said earlier communication is key how are you going to share this strategic plan with your organization so everybody can know how to contribute keep in mind the different people absorb information in different ways words audio pictures whatever works for you you need to keep the plan top of mind so that people can be aware of where the organization is going and what they need to do to move forward in it it's all about alignment if you lose out on some of these pieces the stret entire strategy can fall you need to make sure that the plan is aligned your people are aligned and it goes from the top down to the bottom up and once you get alignment and buy-in that's when real magic starts happening and you make really big progress an important progress on your plan and everything that you work on how you get alignment you got to communicate clearly and simply you need to get buy-in so bring people into the process so they know how they can contribute you need to match goals and motivation think of it from their perspective everybody has a different reason to come to work and that's why we're really passionate about what we do because we make people's lives better your employees will have better lives it will affect their families and their communities when they can be successful in their work and to be successful they need to have the capability to do that so you've got to give them the tools and the resources they need to succeed if you give them a plan but you know chop block them and don't allow them to be successful they're not going to be very motivated to come into work and to give it their best so when the rubber hits the road you need to align your team and execute the plan that means getting communication and then working backwards from the vision to build a plan that comes together and as well a lot like I said strategy is about choices and you just need to pick the most important things that are going to move your organization forward in the most effective way possible so if you have an aligned plan and you have a clear direction and you keep that top of mind and don't sway from it you're going to save time money and resources your people are going to be happier and you're just going to get more done which means you're going to have a bigger impact and you're going to help more people and that's really what it's about so happy planning everyone I hope you enjoyed this video I hope it helps you structure your strategic planning process and I hope it helps you add more value to your customers and anyone that else is that is affected by your business so it's been anthony taylor i'm the managing partner at SMA strategy and i really hope this has helped have an amazing day and happy planning
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