Without direction and strategic planning, your business is in reactive mode, all the time.
When your organisation operates on reactive mode you have no control. The company is driven by the changes that come its way, and the results can be disastrous.
Strategic planning turns your business into a proactive organisation ready to deal with any changes in a coordinated way that involves the entire company.
A strategic plan is key to business success. It allows you to adjust the organisation’s direction in response to a changing environment in the most effective way.
It’s about setting priorities, focusing resources, strengthening operations, and ensuring that employees and stakeholders are working toward the same goals.
But you don’t need an extensive plan. A simple one-page plan is all it takes to:
Set clear direction and priorities
Get everyone on the same page
Simplify decision making
Drive alignment of time and resources
Communicate the organisation’s vision for the future
Strategic Planning can be divided into four simple phases:
Assessment: where you develop an assessment of internal and external environments.
Strategy Formulation: where you develop a high level strategy and a basic organisational strategic plan.
Execution: where the high level plan transitions into measurable actions.
Evaluation: your strategy needs to be sustainable in the long run. You will need to continuously assess, fine-tune and course-correct performance, culture, communications and all the other elements that are part of your strategy.