What is Strategic Planning ?
Most if not all businesses and organisations on the planet perform this function at some point in the organisation’s lifecycle. In the case of successful companies this function is constantly funded, design new plans and monitor/adjusting existing plans in motion.
I hold to a belief that not only businesses, governments and churches should develop and execute strategic plans, but individuals as we are very wise to consider a strategic plan for the next season(s) in their life.
Strategic Planning is a powerful process to set a course of resourcing and action in motion to achieve an objective. It is useful for:
The process of Strategic Planning development is relatively simple, and summarised thake the form of these 3 basic steps;
VIsion, Mission, Strategy Development – What are you doing and why ? Generally this is the most difficult step. Errors of judgment here can have near catastrophic results.
Planning – How is this going to be done ? Who will do the work ? What resources (people, training, assets) are required ? Where will this take place ? What are the risks ? How will the risks be mitigated ? How much will each segment of the plan cost ? What revenue would be realised from each segment of the plan ?
Execution/Opertional – The plan comes to life. We are “doing” the work and monitoring our course. Are we heading toward our objectives ? Are any of the risks being manifest ? Is anything changing as we move forward that needs adjustment ? When we make adjustments are we referring back to the original Vision, Mission, Strategy to ensure our decisions are in harmony with what we originally intended ?