Strategic planning is an organizational leadership activity used to assure that the business goals are realized. Effective strategic planning articulates not only where a business is going and the actions needed to make progress but, also how it will know if it is successful. It will be the beginning of a new or improved culture.
When to consider using strategic planning?
Key indicators are when there is a stagnation or decline in your business; a change in census demographics and government policies; technical advances, and economic indicators. All of these have the potential to impact your business; some are threats and some are opportunities. Strategic Planning allows your business to reduce risks and maximize the opportunities by examining the possibilities and focusing on effective and efficient ways to conduct business.
Why Strategic Planning?
Do you run your business or does it run you? Strategic Planning gives you the opportunity to take charge of your company’s future. How? It forces you to look into the future and be proactive; you have a better awareness of issues and trends and how to approach them head on; it provides a sense of direction for leadership; helps define standards and accountability; and more…The most compelling reason for many Leaders is it helps focus on the mission of the business.
In summary, strategic planning is the key to collectively and cooperatively gain control of the future and the destiny of your business.