The importance of a Strategic Plan - Business owners and managers are often so busy with the current activities and issues with their business that they lose sight of their long term strategic goals. This is the reason why a strategic review and strategic plan is critical to have. While this may not ensure success, it does reduce the risk of making costly mistakes by straying from strategic goals. The strategic plan is like a map for business to successfully navigate to where you want to go.
A thorough plan should have the following elements:
Structured framework for making decisions and getting the support from the organization
Provide a foundation for creating more detailed plans
Communicate the objectives and motivators behind the strategy
Provide a method to measure and access performance
Be a driver for future change and plans
The strategic plan is not a business plan. Strategic planning usually establishes the key objectives and the ways of accomplishing those objectives whereas the business plan is more detailed. The strategic plan can serve as a foundation for a business plan.
The strategic plan is also not the same as an operational plan. The strategic plan sets the vision and direction of the business. The operational plan gives details on the short term, measurable, daily procedural and tactical activities to achieve the major strategic milestones.
The development of goals is a key step in effective strategic planning. Goals can be defined as a written target of where an organization or an individual wants to be within a specific time frame. But goals must be built on a secure foundation in order to be meaningful and to help the organization achieve its mission. Effective goals have four common characteristics which, when followed, will make achievement more likely and planning more precise. Putting your energies into developing effective goals that link to values, that are measurable, specific, targeted and time sensitive will pay huge dividends as you work to achieve your strategic plan.
In summary, in order to determine where it is going, the organization needs to know exactly where it stands, then determine where it wants to go and how it will get there. This strategic template guide will assist you in clearly defining your strategic goals and guidelines to implement a plan.
The strategic template package contains over 50 slides of professionally structured and practical strategic planning templates in Microsoft PowerPoint format that can be fully customized. Please view the slides below for a sample of the contents.