Strategic Business Planning
Growing a business or improving its operations means taking many decisions about the way you want to expand or improve your operations. The purpose of strategic planning is to set the overall direction and goals for your business.
A well-organized strategic business plan contains four fundamental steps; Assess (WHY), Develop (WHAT), Align (WHO) and Execute (HOW). To fully engage the organization in a sustainable improvement program it is essential that each step of the process be executed in sequence. The strategic business planning process addresses step-1 and step-2 (WHY and WHAT)
- Details strengths to be leverage, weaknesses to improve, opportunities to explore and threats to minimize or navigate through
- Establishes the vision, mission and desired culture of the company
- Recognizes your customer PDQ (price, delivery, quality) expectations and needs.
- Provides clarity to the questions;
- Why should we change? Why is it important? Why now?
- What are we doing today? What must be improved? What will this do for our business? What is the outline of our plan? What are the key performance indicators?
- Sets in place a communication plan to all employees on the company’s purpose, strategic direction and company performance measures.