Strategic planning is the process of developing a strategic plan, or the strategy, of an organization and then making strategic decisions about allocation of its resources in pursuit of this strategic plan. Strategic planning is usually performed by an executive committee, but sometimes by a small team of managers who specialize in one or more fields related to the strategic plan. The strategic plan should be written down, implemented, and continuously reviewed as strategic plans change and become effective. Read More – http://earthship.tv
What Is a Strategic Planning Process?
Often, strategic planning sessions are conducted when a business needs to develop new strategies to deal with a particular problem, but these sessions are often too lengthy and fail to address the real issues facing the organization. These problems may be related to long-term management issues such as how to deal with an expanding customer base, or perhaps the need to address competitive threats. Sometimes, business leaders and managers feel too overwhelmed by current competitors, or they may lack a clear idea about what future competition might be like. Sometimes, business leaders and managers feel that the time constraints of strategic planning make it impossible to organize effectively and therefore give up in the process. Sometimes, there is resistance to change within the business.
At the end of the strategic planning process, strategic plans are either adopted or rejected. If adopted, there is usually a detailed implementation plan including timelines and milestones for proceeding with the strategy. If rejected, there are usually plans for alternative courses of action. In some cases, strategic plans are modified slightly to achieve the desired goals, but this change is usually a fairly radical change, such as removing some existing functionality, reducing costs, increasing the number of employees employed, or increasing productivity, but this must be carefully evaluated against the original strategic plan. It is also important to note that these modified plans can be applied to any problem, not just specific problems, as the goals and objectives of the modification do not have to be altered to fit the problem at hand.