Strategic Planning In Business Management

Strategic Planning In Business Management-74
You need to have an understanding of what your competitors are or aren’t offering your potential customers.

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Evaluate the options you’ve generated, and identify the ones that give the greatest benefit, and that best achieve the mission and vision of your organization.

Add these to the other strategic options that you’re considering. Once you have formulated your strategic objectives, you should translate them into goals and measures that can be clearly communicated to your planning team (team leaders and/or team members).

*To access the worksheets under “Tools & Techniques” please refer to our Strategic Planning Kit for Dummies.

Strategic issues are critical unknowns that are driving you to embark on a strategic planning process now.

To assist you throughout your planning process, we have created a how-to guide on The Basics of Strategic Planning which will take you through the planning process step-by-step and keep you on track.

Having a good strategy dictates “how” you travel the road you have selected and effective execution makes sure you are checking in along the way.

These issues can be problems, opportunities, market shifts or anything else that is keeping you awake at night and begging for a solution or decision.

Conducting an environmental scan will help you understand your operating environment.

Often your organization’s mission and vision may remain the same while your objectives and goals will need to be revised or updated.

When this happens, you will need to either adapt your strategy or begin the process over again. Some organizations can maintain a strategic plan for a year or longer, while others have to respond to market changes more frequently.

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