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7 strategic planning models, plus 8 frameworks to help you get started

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Strategic planning is vital in defining where your business is going in the next three to five years. With the right strategic planning models and frameworks, you can uncover opportunities, identify risks, and create a strategic plan to fuel your organization’s success. We list the most popular models and frameworks and explain how you can combine them to create a strategic plan that fits your business.

A strategic plan is a great tool to help you hit your business goals . But sometimes, this tool needs to be updated to reflect new business priorities or changing market conditions. If you decide to use a model that already exists, you can benefit from a roadmap that’s already created. The model you choose can improve your knowledge of what works best in your organization, uncover unknown strengths and weaknesses, or help you find out how you can outpace your competitors.

In this article, we cover the most common strategic planning models and frameworks and explain when to use which one. Plus, get tips on how to apply them and which models and frameworks work well together. 

Strategic planning models vs. frameworks

First off: This is not a one-or-nothing scenario. You can use as many or as few strategic planning models and frameworks as you like. 

When your organization undergoes a strategic planning phase, you should first pick a model or two that you want to apply. This will provide you with a basic outline of the steps to take during the strategic planning process.

[Inline illustration] Strategic planning models vs. frameworks (Infographic)

During that process, think of strategic planning frameworks as the tools in your toolbox. Many models suggest starting with a SWOT analysis or defining your vision and mission statements first. Depending on your goals, though, you may want to apply several different frameworks throughout the strategic planning process.

For example, if you’re applying a scenario-based strategic plan, you could start with a SWOT and PEST(LE) analysis to get a better overview of your current standing. If one of the weaknesses you identify has to do with your manufacturing process, you could apply the theory of constraints to improve bottlenecks and mitigate risks. 

Now that you know the difference between the two, learn more about the seven strategic planning models, as well as the eight most commonly used frameworks that go along with them.

[Inline illustration] The seven strategic planning models (Infographic)

1. Basic model

The basic strategic planning model is ideal for establishing your company’s vision, mission, business objectives, and values. This model helps you outline the specific steps you need to take to reach your goals, monitor progress to keep everyone on target, and address issues as they arise.

If it’s your first strategic planning session, the basic model is the way to go. Later on, you can embellish it with other models to adjust or rewrite your business strategy as needed. Let’s take a look at what kinds of businesses can benefit from this strategic planning model and how to apply it.

Small businesses or organizations

Companies with little to no strategic planning experience

Organizations with few resources 

Write your mission statement. Gather your planning team and have a brainstorming session. The more ideas you can collect early in this step, the more fun and rewarding the analysis phase will feel.

Identify your organization’s goals . Setting clear business goals will increase your team’s performance and positively impact their motivation.

Outline strategies that will help you reach your goals. Ask yourself what steps you have to take in order to reach these goals and break them down into long-term, mid-term, and short-term goals .

Create action plans to implement each of the strategies above. Action plans will keep teams motivated and your organization on target.

Monitor and revise the plan as you go . As with any strategic plan, it’s important to closely monitor if your company is implementing it successfully and how you can adjust it for a better outcome.

2. Issue-based model

Also called goal-based planning model, this is essentially an extension of the basic strategic planning model. It’s a bit more dynamic and very popular for companies that want to create a more comprehensive plan.

Organizations with basic strategic planning experience

Businesses that are looking for a more comprehensive plan

Conduct a SWOT analysis . Assess your organization’s strengths, weaknesses, opportunities, and threats with a SWOT analysis to get a better overview of what your strategic plan should focus on. We’ll give into how to conduct a SWOT analysis when we get into the strategic planning frameworks below.

Identify and prioritize major issues and/or goals. Based on your SWOT analysis, identify and prioritize what your strategic plan should focus on this time around.

Develop your main strategies that address these issues and/or goals. Aim to develop one overarching strategy that addresses your highest-priority goal and/or issue to keep this process as simple as possible.

Update or create a mission and vision statement . Make sure that your business’s statements align with your new or updated strategy. If you haven’t already, this is also a chance for you to define your organization’s values.

Create action plans. These will help you address your organization’s goals, resource needs, roles, and responsibilities. 

Develop a yearly operational plan document. This model works best if your business repeats the strategic plan implementation process on an annual basis, so use a yearly operational plan to capture your goals, progress, and opportunities for next time.

Allocate resources for your year-one operational plan. Whether you need funding or dedicated team members to implement your first strategic plan, now is the time to allocate all the resources you’ll need.

Monitor and revise the strategic plan. Record your lessons learned in the operational plan so you can revisit and improve it for the next strategic planning phase.

The issue-based plan can repeat on an annual basis (or less often once you resolve the issues). It’s important to update the plan every time it’s in action to ensure it’s still doing the best it can for your organization.

You don’t have to repeat the full process every year—rather, focus on what’s a priority during this run.

3. Alignment model

This model is also called strategic alignment model (SAM) and is one of the most popular strategic planning models. It helps you align your business and IT strategies with your organization’s strategic goals. 

You’ll have to consider four equally important, yet different perspectives when applying the alignment strategic planning model:

Strategy execution: The business strategy driving the model

Technology potential: The IT strategy supporting the business strategy

Competitive potential: Emerging IT capabilities that can create new products and services

Service level: Team members dedicated to creating the best IT system in the organization

Ideally, your strategy will check off all the criteria above—however, it’s more likely you’ll have to find a compromise. 

Here’s how to create a strategic plan using the alignment model and what kinds of companies can benefit from it.

Organizations that need to fine-tune their strategies

Businesses that want to uncover issues that prevent them from aligning with their mission

Companies that want to reassess objectives or correct problem areas that prevent them from growing

Outline your organization’s mission, programs, resources, and where support is needed. Before you can improve your statements and approaches, you need to define what exactly they are.

Identify what internal processes are working and which ones aren’t. Pinpoint which processes are causing problems, creating bottlenecks , or could otherwise use improving. Then prioritize which internal processes will have the biggest positive impact on your business.

Identify solutions. Work with the respective teams when you’re creating a new strategy to benefit from their experience and perspective on the current situation.

Update your strategic plan with the solutions. Update your strategic plan and monitor if implementing it is setting your business up for improvement or growth. If not, you may have to return to the drawing board and update your strategic plan with new solutions.

4. Scenario model

The scenario model works great if you combine it with other models like the basic or issue-based model. This model is particularly helpful if you need to consider external factors as well. These can be government regulations, technical, or demographic changes that may impact your business.

Organizations trying to identify strategic issues and goals caused by external factors

Identify external factors that influence your organization. For example, you should consider demographic, regulation, or environmental factors.

Review the worst case scenario the above factors could have on your organization. If you know what the worst case scenario for your business looks like, it’ll be much easier to prepare for it. Besides, it’ll take some of the pressure and surprise out of the mix, should a scenario similar to the one you create actually occur.

Identify and discuss two additional hypothetical organizational scenarios. On top of your worst case scenario, you’ll also want to define the best case and average case scenarios. Keep in mind that the worst case scenario from the previous step can often provoke strong motivation to change your organization for the better. However, discussing the other two will allow you to focus on the positive—the opportunities your business may have ahead.

Identify and suggest potential strategies or solutions. Everyone on the team should now brainstorm different ways your business could potentially respond to each of the three scenarios. Discuss the proposed strategies as a team afterward.

Uncover common considerations or strategies for your organization. There’s a good chance that your teammates come up with similar solutions. Decide which ones you like best as a team or create a new one together.

Identify the most likely scenario and the most reasonable strategy. Finally, examine which of the three scenarios is most likely to occur in the next three to five years and how your business should respond to potential changes.

5. Self-organizing model

Also called the organic planning model, the self-organizing model is a bit different from the linear approaches of the other models. You’ll have to be very patient with this method. 

This strategic planning model is all about focusing on the learning and growing process rather than achieving a specific goal. Since the organic model concentrates on continuous improvement , the process is never really over.

Large organizations that can afford to take their time

Businesses that prefer a more naturalistic, organic planning approach that revolves around common values, communication, and shared reflection

Companies that have a clear understanding of their vision

Define and communicate your organization’s cultural values . Your team can only think clearly and with solutions in mind when they have a clear understanding of your organization's values.

Communicate the planning group’s vision for the organization. Define and communicate the vision with everyone involved in the strategic planning process. This will align everyone’s ideas with your company’s vision.

Discuss what processes will help realize the organization’s vision on a regular basis. Meet every quarter to discuss strategies or tactics that will move your organization closer to realizing your vision.

6. Real-time model

This fluid model can help organizations that deal with rapid changes to their work environment. There are three levels of success in the real-time model: 

Organizational: At the organizational level, you’re forming strategies in response to opportunities or trends.

Programmatic: At the programmatic level, you have to decide how to respond to specific outcomes or environmental changes.

Operational: On the operational level, you will study internal systems, policies, and people to develop a strategy for your company.

Figuring out your competitive advantage can be difficult, but this is absolutely crucial to ensure success. Whether it’s a unique asset or strength your organization has or an outstanding execution of services or programs—it’s important that you can set yourself apart from others in the industry to succeed.

Companies that need to react quickly to changing environments

Businesses that are seeking new tools to help them align with their organizational strategy

Define your mission and vision statement. If you ever feel stuck formulating your company’s mission or vision statement, take a look at those of others. Maybe Asana’s vision statement sparks some inspiration.

Research, understand, and learn from competitor strategy and market trends. Pick a handful of competitors in your industry and find out how they’ve created success for themselves. How did they handle setbacks or challenges? What kinds of challenges did they even encounter? Are these common scenarios in the market? Learn from your competitors by finding out as much as you can about them.

Study external environments. At this point, you can combine the real-time model with the scenario model to find solutions to threats and opportunities outside of your control.

Conduct a SWOT analysis of your internal processes, systems, and resources. Besides the external factors your team has to consider, it’s also important to look at your company’s internal environment and how well you’re prepared for different scenarios.

Develop a strategy. Discuss the results of your SWOT analysis to develop a business strategy that builds toward organizational, programmatic, and operational success.

Rinse and repeat. Monitor how well the new strategy is working for your organization and repeat the planning process as needed to ensure you’re on top or, perhaps, ahead of the game. 

7. Inspirational model

This last strategic planning model is perfect to inspire and energize your team as they work toward your organization’s goals. It’s also a great way to introduce or reconnect your employees to your business strategy after a merger or acquisition.

Businesses with a dynamic and inspired start-up culture

Organizations looking for inspiration to reinvigorate the creative process

Companies looking for quick solutions and strategy shifts

Gather your team to discuss an inspirational vision for your organization. The more people you can gather for this process, the more input you will receive.

Brainstorm big, hairy audacious goals and ideas. Encouraging your team not to hold back with ideas that may seem ridiculous will do two things: for one, it will mitigate the fear of contributing bad ideas. But more importantly, it may lead to a genius idea or suggestion that your team wouldn’t have thought of if they felt like they had to think inside of the box.

Assess your organization’s resources. Find out if your company has the resources to implement your new ideas. If they don’t, you’ll have to either adjust your strategy or allocate more resources.

Develop a strategy balancing your resources and brainstorming ideas. Far-fetched ideas can grow into amazing opportunities but they can also bear great risk. Make sure to balance ideas with your strategic direction. 

Now, let’s dive into the most commonly used strategic frameworks.

8. SWOT analysis framework

One of the most popular strategic planning frameworks is the SWOT analysis . A SWOT analysis is a great first step in identifying areas of opportunity and risk—which can help you create a strategic plan that accounts for growth and prepares for threats.

SWOT stands for strengths, weaknesses, opportunities, and threats. Here’s an example:

[Inline illustration] SWOT analysis (Example)

9. OKRs framework

A big part of strategic planning is setting goals for your company. That’s where OKRs come into play. 

OKRs stand for objective and key results—this goal-setting framework helps your organization set and achieve goals. It provides a somewhat holistic approach that you can use to connect your team’s work to your organization’s big-picture goals.  When team members understand how their individual work contributes to the organization’s success, they tend to be more motivated and produce better results

10. Balanced scorecard (BSC) framework

The balanced scorecard is a popular strategic framework for businesses that want to take a more holistic approach rather than just focus on their financial performance. It was designed by David Norton and Robert Kaplan in the 1990s, it’s used by companies around the globe to: 

Communicate goals

Align their team’s daily work with their company’s strategy

Prioritize products, services, and projects

Monitor their progress toward their strategic goals

Your balanced scorecard will outline four main business perspectives:

Customers or clients , meaning their value, satisfaction, and/or retention

Financial , meaning your effectiveness in using resources and your financial performance

Internal process , meaning your business’s quality and efficiency

Organizational capacity , meaning your organizational culture, infrastructure and technology, and human resources

With the help of a strategy map, you can visualize and communicate how your company is creating value. A strategy map is a simple graphic that shows cause-and-effect connections between strategic objectives. 

The balanced scorecard framework is an amazing tool to use from outlining your mission, vision, and values all the way to implementing your strategic plan .

You can use an integration like Lucidchart to create strategy maps for your business in Asana.

11. Porter’s Five Forces framework

If you’re using the real-time strategic planning model, Porter’s Five Forces are a great framework to apply. You can use it to find out what your product’s or service’s competitive advantage is before entering the market.

Developed by Michael E. Porter , the framework outlines five forces you have to be aware of and monitor:

[Inline illustration] Porter’s Five Forces framework (Infographic)

Threat of new industry entrants: Any new entry into the market results in increased pressure on prices and costs. 

Competition in the industry: The more competitors that exist, the more difficult it will be for you to create value in the market with your product or service.

Bargaining power of suppliers: Suppliers can wield more power if there are less alternatives for buyers or it’s expensive, time consuming, or difficult to switch to a different supplier.

Bargaining power of buyers: Buyers can wield more power if the same product or service is available elsewhere with little to no difference in quality.

Threat of substitutes: If another company already covers the market’s needs, you’ll have to create a better product or service or make it available for a lower price at the same quality in order to compete.

Remember, industry structures aren’t static. The more dynamic your strategic plan is, the better you’ll be able to compete in a market.

12. VRIO framework

The VRIO framework is another strategic planning tool designed to help you evaluate your competitive advantage. VRIO stands for value, rarity, imitability, and organization.

It’s a resource-based theory developed by Jay Barney. With this framework, you can study your firmed resources and find out whether or not your company can transform them into sustained competitive advantages. 

Firmed resources can be tangible (e.g., cash, tools, inventory, etc.) or intangible (e.g., copyrights, trademarks, organizational culture, etc.). Whether these resources will actually help your business once you enter the market depends on four qualities:

Valuable : Will this resource either increase your revenue or decrease your costs and thereby create value for your business?

Rare : Are the resources you’re using rare or can others use your resources as well and therefore easily provide the same product or service?

Inimitable : Are your resources either inimitable or non-substitutable? In other words, how unique and complex are your resources?

Organizational: Are you organized enough to use your resources in a way that captures their value, rarity, and inimitability?

It’s important that your resources check all the boxes above so you can ensure that you have sustained competitive advantage over others in the industry.

13. Theory of Constraints (TOC) framework

If the reason you’re currently in a strategic planning process is because you’re trying to mitigate risks or uncover issues that could hurt your business—this framework should be in your toolkit.

The theory of constraints (TOC) is a problem-solving framework that can help you identify limiting factors or bottlenecks preventing your organization from hitting OKRs or KPIs . 

Whether it’s a policy, market, or recourse constraint—you can apply the theory of constraints to solve potential problems, respond to issues, and empower your team to improve their work with the resources they have.

14. PEST/PESTLE analysis framework

The idea of the PEST analysis is similar to that of the SWOT analysis except that you’re focusing on external factors and solutions. It’s a great framework to combine with the scenario-based strategic planning model as it helps you define external factors connected to your business’s success.

PEST stands for political, economic, sociological, and technological factors. Depending on your business model, you may want to expand this framework to include legal and environmental factors as well (PESTLE). These are the most common factors you can include in a PESTLE analysis:

Political: Taxes, trade tariffs, conflicts

Economic: Interest and inflation rate, economic growth patterns, unemployment rate

Social: Demographics, education, media, health

Technological: Communication, information technology, research and development, patents

Legal: Regulatory bodies, environmental regulations, consumer protection

Environmental: Climate, geographical location, environmental offsets

15. Hoshin Kanri framework

Hoshin Kanri is a great tool to communicate and implement strategic goals. It’s a planning system that involves the entire organization in the strategic planning process. The term is Japanese and stands for “compass management” and is also known as policy management. 

This strategic planning framework is a top-down approach that starts with your leadership team defining long-term goals which are then aligned and communicated with every team member in the company. 

You should hold regular meetings to monitor progress and update the timeline to ensure that every teammate’s contributions are aligned with the overarching company goals.

Stick to your strategic goals

Whether you’re a small business just starting out or a nonprofit organization with decades of experience, strategic planning is a crucial step in your journey to success. 

If you’re looking for a tool that can help you and your team define, organize, and implement your strategic goals, Asana is here to help. Our goal-setting software allows you to connect all of your team members in one place, visualize progress, and stay on target.

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What is strategic planning?

What is strategic plan management?

Benefits of robust strategic planning and management

10 steps in the strategic planning process.

Plans are worthless, but planning is everything. - Dwight D. Eisenhower

It’s that time again. 

Every three to five years, most larger organizations periodically plan for the future. Many times strategic planning documents are shelved and forgotten until the next cycle begins. On the other hand, many smaller and newer organizations, propelled by urgency, may not devote the necessary time and energy to the strategic planning process. 

Only 63% of businesses plan more than a year out. They fail to see that — contrary to Alice in Wonderland’s Cheshire cat — “any way” does not take you there. 

For all organizations, a more rigorous annual planning process is critical for driving future success, profitability, value, and impact.

John Kotter, a former professor at Harvard Business School and noted expert on innovation says, “ Strategy should be viewed as a dynamic force that constantly seeks opportunities, identifies initiatives that will capitalize on them, and completes those initiatives swiftly and efficiently.”

There’s hardly a better case that can be made for dynamic planning than in the tech industry, where mergers and acquisitions are accelerating exponentially. Companies need to be nimble enough to navigate rapid change . In this case, planning should occur quarterly.

Strategic planning is an ongoing process by which an organization sets its forward course by bringing all of its stakeholders together to examine current realities and define its vision for the future.

It examines its strengths and weaknesses, resources available, and opportunities. Strategic planning seeks to anticipate future industry trends .  During the process, the organization creates a vision, articulates its purpose, and sets strategic goals that are long-term and forward-focused. 

Those strategic goals inform operational goals and incremental milestones that need to be reached. The operational plan has clear objectives and supporting initiatives tied to metrics to which everyone is accountable . The plan should be agile enough to allow for recalibrating when necessary and redistributing resources based on internal and external forces.

The output of the planning process is a document that is shared across the enterprise. 

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Strategic planning for individuals

Strategic planning isn’t just for companies. At BetterUp, strategic planning is one of the skills that we identify, track, and develop within the Whole Person Model . For individuals, strategic planning is the ability to think through ways to achieve desired outcomes. Just as strategic planning helps organizations realize their goals for the future, it helps individuals grow and achieve goals in a unified direction. 

Working backward from the desired outcome, effective strategic planning consists of coming up with the steps we need to take today in order to get where we want to be tomorrow. 

While no plan is infallible, people who develop this skill are good at checking to make sure that their actions are in alignment with the outcomes that they want to see in the future. Even when things don’t go according to plan, their long-term goals act as a “North star” to get them back on course. In addition, envisioning desired future states and figuring out how to turn them into reality enhances an individual’s sense of personal meaning and motivation. 

Whether we’re talking about strategic planning for the company or the individual, strategic plans can go awry in a variety of ways including: 

  • Unrealistic goals and too many priorities
  • Poor communication
  • Using the wrong measures
  • Lack of leadership

The extent to which that document is shelved until the next planning cycle or becomes a dynamic map of the future depends on the people responsible for overseeing the execution of the plan.

strategic-planning-person-smiling-at-his-computer

What is strategic plan management? 

"Most people think of strategy as an event, but that’s not the way the world works," according to Harvard Business School Professor Clayton Christensen. "When we run into unanticipated opportunities and threats, we have to respond. Sometimes we respond successfully; sometimes we don’t. But most strategies develop through this process. More often than not, the strategy that leads to success emerges through a process that works 24/7 in almost every industry."

Strategic business management is the ongoing process by which an organization creates and sustains a successful roadmap that moves the company in the direction it needs to move, year after year, for long-term success. It spans from research and formulation to execution, evaluation, and adjustment. Given the pace of change, strategic management is more relevant and important than ever for assigning measurable goals and action steps

Many organizations fail because they don’t have the strategic management team at the table right from the beginning of the planning process. A strategic plan is only as good as its ability to be executed and sustained. 

A strategic management initiative might be driven by an internal group — many companies have an internal strategy team — or an outside consulting firm. Ultimately company leaders need to own executing and sustaining the strategy. 

Strategic management teams

In this Harvard Business Review article, Ron Carucci from consulting firm Navalent reports that 61% of executives in a 10-year longitudinal study felt they were not prepared for the strategic challenges they faced upon being appointed to senior leadership roles. Lack of commitment to the plan is also a contributing factor. In addition, leaders attending to quarterly targets, crisis management , and reconciling budgets often consider the execution of a long-term strategy a low priority.

A dedicated strategic management team works with those senior leaders and managers throughout the organization to communicate, coordinate and evaluate progress against goals. They tie strategic objectives to day-to-day operational metrics throughout the enterprise. 

A good strategic management group can assist in creating a culture of empowerment and learning . It holds regular meetings with employees. It sets a clear agenda and expectations to make the strategic plan real and compelling to the organization through concrete objectives, results, and timelines. 

Strategy development is a lot of work, but the benefits are lasting. After all, as the saying goes, "If you fail to plan, you plan to fail." Taking the time for review and planning activities has the following benefits:

  • Organizations and people are set up to succeed
  • Increased likelihood of staying on track
  • Decreased likelihood of being distracted or derailed
  • Progress through the plan is communicated throughout the organization
  • Metrics facilitate course correction
  • Budgets enterprise-wide are based on strategy
  • Cross-organization alignment
  • Robust employee performance and compensation plans
  • Commitment to learning and training
  • A robust strategic planning process gets everyone involved and invested in the organizations
  • Employees inform management about what’s working or not working at the operational level
  • Innovation is encouraged and rewarded
  • Increased productivity

1. Define mission and vision  

Begin by articulating the organization's vision for the future. Ask, "What would success look like in five years?" Create a mission statement describing organizational values and how you intend to reach the vision. What values inform and determine mission, vision, and purpose?

Purpose-driven strategic goals articulate the “why” of what the corporation is doing. It connects the vision statement to specific objectives, drawing a line between the larger goals and the work that teams and individuals do.

2. Conduct a comprehensive assessment  

This stage includes identifying an organization’s strategic position.

Gathering data from internal and external environments and respective stakeholders takes place at this time. Involving employees and customers in the research.

The task is to gather market data through research. One of the most critical components of this stage is a comprehensive SWOT analysis that involves gathering people and bringing perspectives from all stakeholders to determine:

  • W eaknesses
  • O pportunities

Strengths and weaknesses  — In this stage, planners identify the company’s assets that contribute to its current competitive advantage and/or the likelihood of a significant increase in the organization’s market share in the future. It should be an objective assessment rather than an inflated perspective of its strengths. 

An accurate assessment of weaknesses requires looking outward at external forces that can reveal new opportunities as well as threats. Consider the massive shift in multiple industries whose strategy has been disrupted by the COVID-19 pandemic. While it was disastrous to the airline and restaurant industries’ business models , tech companies were able to seize the opportunity and address the demands of remote work. 

Michael Porter’s book Competetive Strategy: Techniques for Analyzing Industries and Competitors claims that there are five forces at work in an industry that influence that industry’s ability to develop a competitive strategy. Since the book was published in 1979, organizations have turned to Porter’s theory to create their strategic framework. 

Here are the 5 forces (and key questions) that determine the competitive strategy for most industries.

  • Competitive rivalry : When considering the strengths of an organization’s competitors it’s important to ask: How do our products/services hold up to our competition? If the rivalry is intense, companies need to consider what capacity they have to gain leverage through price cuts or bold marketing strategies. If there is little competition, the organization has a substantial gain in the market.
  • Supplier power: How might suppliers influence strategy? For example, what if suppliers raised their prices? To what extent would a company need a particular supplier for our product(s)? Is it possible to switch suppliers in a way that is more cost effective and efficient? The number of suppliers that exist will determine your ability to keep costs low.
  • Buyer power: To what extent do buyers have the ability to shop around right into the hands of your competitors? How much power does your customer base have in determining price? A small number of well-informed buyers shifts the power in their direction while a large pool may give you the strategic advantage
  • Threat of substitution:  What is the threat of a company’s buyer substituting your services/products from the competition? What if the buyer figures out another way to access the services/products that it offers?
  • Threat of new entry:  How easy is it for newcomers to enter the organization’s market?

strategic-planning-a-group-talks-in-a-room

3. Forecast  

Considering the factors above, determine the company’s value through financial forecasting . While almost certainly to become a moving target influenced by the five forces, a forecast can assign initial anticipated measurable results expected in the plan or ROI: profits/cost of investment.

4. Set the organizational direction of the business

The above research and assessment will help an organization to set goals and priorities. Too often an organization’s strategic plan is too broad and over-ambitious. Planners need to ask, ”What kind of impact are we seeking to have, and in what time frame?” They need to drill down to objectives that will have the most impact. 

5. Create strategic objectives

This next phase of operational planning consists of creating strategic objectives and initiatives. Kaplan and Norton posit in their balanced scorecard methodology that there are four perspectives for consideration in identifying the conditions for success. They are interrelated and must be evaluated simultaneously.

  • Financial : Such considerations as growing shareholder value, increasing revenue, managing cost, profitability, or financial stability inform strategic initiatives. 
  • Customer-satisfaction:  Objectives can be determined by identifying targets related to one or some of the following: value for the cost, best service, increased market share, or providing customers with solutions.
  • Internal processes such as operational processes and efficiencies, investment in innovation, investment in total quality and performance management , cost reduction, improvement of workplace safety, or streamlining processes.
  • Learning and growth: Organizations must ask: Are initiatives in place in terms of human capital and learning and growth to sustain change? Objectives may include employee retention, productivity, building high-performing teams, or creating a pipeline for future leaders .

6. Align with key stakeholders

It’s a team effort. The success of the plan is in direct proportion to the organization’s commitment to inform and engage the entire workforce in strategy execution. People will only be committed to strategy implementation when they're connected to the organization's goals. With everyone pulling in the same direction, cross-functional decision-making becomes easier and more aligned.

7. Begin strategy mapping

A strategy map is a powerful tool for illustrating the cause-effect of those perspectives and connecting them to between 12 and 18 strategic objectives. Since most people are visual learners, the map provides an easy-to-understand diagram for everyone in the organization creating shared knowledge at all levels.

8. Determine strategic initiatives

Following the development of strategic objectives, strategic initiatives are determined. These are the actions the organization will take to reach those objectives. They may relate initiatives related to factors such as scope, budget, raising brand awareness, product development, and employee training.

9. Benchmark performance measures and analysis

Strategic initiatives inform SMART goals to which metrics are assigned to evaluate performance. These measures cascade from senior management to management to front-line workers. At this stage, the task is to create goals that are specific, measurable, attainable, relevant, and time-based informing the operational plan.

Benchmarks are established against so that performance can be measures, and a time frame is created. Key performance indicators (KPI’s) are assigned based on organizational goals. These indicators align workers’ performance and productivity with long-term strategic objectives. 

10. Performance evaluation

Assessment of whether the plan has been successful . It measures activities and progress toward objectives and allows for the creation of improved plans and objectives in order to improve overall performance . 

Think of strategic planning as a circular process beginning and ending with evaluation. Adjust a  plan as necessary. The pace at which review of the plan is necessary may be once a year for many organizations or quarterly for organizations in rapidly evolving industries. 

Prioritizing the strategic planning process

The strategic planning meeting may have a reputation for being just another to-do, but it might be time to take a second look. With the right action plan and a little strategic thinking, you can reinvigorate your business environment and start planning for success.

It's that time to get excited about the future again.

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Meredith Betz

Betterup Fellow Coach, M.S.Ed, M.S.O.D.

Contingency planning: 4 steps to prepare for the unexpected

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Strategic planning — what it is and how to do it well

Strategic planning guide

It can be difficult to reach your business goals and ambitions, regardless of what preparation you’ve done. But if you have a strategic plan in place, you’ll be more likely to achieve a favorable outcome.

This post will explain the importance of strategic planning, when and how to make a strategic plan, and how to manage it and stay on course. It will allow the audience to move forward with their planning efforts.

Read on to learn:

  • What strategic planning is

Benefits of strategic planning

  • When you should do strategic planning

Steps in strategic planning

  • What strategic management is

Strategic mapping

What is strategic planning.

Strategic planning is the process of defining your business’s direction and outlining a path toward a preferred future. The goal of a strategic plan is to capture an organization’s mission and core principles — to envision the fulfillment of these ideals. Strategic planning is both conceptual and practical, as it presents both high-level goals and specific approaches to achieve them.

A strategic plan needs to answer the following questions:

  • Where are we now?
  • Where are we going?
  • How do we get there?

Strategic planning helps businesses set and maintain a clear vision and ensure they’re moving in the right direction. Once the plan has been put in place, it helps maintain alignment between various stakeholders and teams within your business. This plan can make resource allocation simpler — by determining if certain resources are being used in ways that don’t align with the broader strategic plan.

Running a business without a strategic plan is like planning a vacation with no destination in mind. How will you get there? What do you need to bring with you? The same applies to planning for your business. Strategic planning:

  • Gives a sense of purpose and direction. A strategic plan provides a clear goal and end result so all other business functions can work to get you closer to that outcome. This clarity helps keep employees aligned on their efforts, make better decisions, and work towards a shared goal.
  • Makes you aware of opportunities for success. Tying your plans to strategy helps your organization identify opportunities that you discover along your journey. If you find an opportunity that aligns with your strategy — and desired outcomes — you can more easily adapt to take advantage of the situation.
  • Alerts you to risks to avoid. Part of the strategic planning process is scanning the external environment and competitive landscape, which allows you to identify potential roadblocks you may encounter.
  • Helps you understand what resources you will need. When you have a strategic plan in place, you can more effectively allocate your resources. By aligning resources with strategic goals, businesses can focus on the initiatives, projects, and investments that maximize their ROI.
  • Helps prioritize critical tasks. When deciding which tasks are most important and which can be put on hold, a strategic plan streamlines that decision making. Tasks that don’t contribute to your mission can wait, while mission-critical tasks get prioritized.
  • Fosters teamwork and communication. Without a strategic plan, team members can feel isolated and siloed. However, when that strategic plan is clearly communicated to everyone, your team will feel more connected as they work towards a common goal.
  • Increases motivation. And when your team understands the desired outcomes and bigger goals behind their daily tasks, they’ll be more motivated to do high-quality work in a timely manner.
  • Helps measure and evaluate results. Because you’ve likely identified key performance indicators (KPIs) in your planning process, you’ll have an easier time tracking your progress. When you measure your progress, you can more easily identify areas for improvement and make changes on the fly.

When should you do strategic planning?

When and how often your business does strategic planning depends on the size and stage of your company, the speed of your business, and the scope of the projects you’re working on. Strategic planning should not be a one-time event. It should be an iterative process with continuous monitoring, evaluation, and adjustment.

If you’re a new business, you’ll want to create a business plan first, before you move into strategic planning. Once your business is established you can then set a strategic plan to outline your goals and manage your business’s strategic direction. For planning more short-term projects, use a project plan .

Once you’ve created a strategic plan, you should review it regularly — quarterly and yearly, for example — to make sure it is still aligned with your business’s goals and industry landscape. Generally, you should create a new strategic plan every 3–5 years. However, newer or faster-moving companies may need to create a new strategic plan every 1–2 years. Another scenario when you should rework your strategic plan is when you’re preparing to make a major pivot in your business.

How to write a strategic plan for a project

Learn how to write a strategic plan, why you need to create one, and the topics it should cover.

Steps in strategic planning

While every strategic plan might look a little different depending on the organization, industry, and other context, there is still a general outline of the process that you can follow to get you started.

Before you get started, there are a few preliminary steps you can take to make sure your planning process goes smoothly. You need to decide who is involved in the process and what documentation they’ll need. You’ll also want to revisit your company’s vision and mission statements which define where your business is aiming to go.

These are the steps you can take to create a strategic plan for your business:

1. Identify and assess your current position

To understand where you’re headed, you first need to look at where you are now. I n this stage you should:

  • Collect customer and employee feedback to understand what is working well for you and what could use improvement.
  • Perform a needs assessment or SWOT analysis to understand more about the current state of your business.
  • Assess your available resources so you can understand what you have enough of and what you may need to reach your goals.

2. Set goals

Next, you can set goals that you’d like your business to achieve over the short and long term. It’s important to choose goals that align with your company mission and vision. You can use marketing and sales forecasts to give you an idea of what types of goals are realistic. In this phase you’ll also want to prioritize the goals you set — so you know which to choose if conflicts arise.

When setting goals, remember to set SMART goals that are specific, measurable, attainable, relevant, and time bound.

3. Develop your plan

In this phase it’s time to put your plan together and map out a project roadmap. This is where your plan becomes clearer both to your planning committee and to your team members who will execute based on the plan.

You want to make sure that your plan is achievable with your current resources — so that you aren’t setting yourself up for failure. You’ll also want to set measurable milestones so you can track your progress along the way. You also need to set KPIs so you have objective numbers to determine if you’re heading in the right direction.

When developing your plan, you should make sure that any short-term action items align with long-term goals. And finally, you’ll need to get approval from leadership and stakeholders.

4. Implement your plan

Now that you’ve created your strategic plan it’s time to act. In fact, the first step of implementation is creating a strategic action plan. Your action plan will outline the specific tactics you’ll use to execute your strategic plan.

In this phase, you’ll also assign tasks to your team members so everyone knows what they are responsible for and what they will be contributing to your mission. It’s important to distribute and communicate your plan across your organization. This helps encourage transparency and will drive buy-in from everyone on your team.

As you are executing on your plan, you should rely on metrics and KPIs to track your performance.

5. Revise your plan as necessary

Next, you’ll want to revise your plan as you encounter roadblocks or market changes. Even the best strategic plans will change as you gather more data or feedback. Using tools — like a project management solution — can help you monitor the progress your team is making. You should schedule periodic evaluations to see which parts of the plan are going well and which need to be revised or reevaluated.

You can conduct reviews on a quarterly basis, so you have information at the end of the year to revise your plan if needed. Even if things are going well, you should make minor adjustments every year to keep your teams aligned and your strategy up to date. Any major revisions you make will require a new planning process — because a major adjustment could derail the rest of your strategic plan.

What is strategic management?

Strategic management is the process of formulating, implementing, and evaluating strategies to achieve the larger goals and objectives of an organization. It can sometimes be used interchangeably with the term strategic planning — but within strategic planning, strategic management means managing the plan being put into action.

Part of strategic management is being adaptive and adjusting to headwinds or organizational changes. You’ll also need to maintain a strong team culture, so your plan stays on track and team members stay engaged.

There are several models that strategic management can follow. Each takes a different approach to the management process, and how it solves problems that may arise.

One of these frameworks is the balanced scorecard method. This method looks at the strategic measures of a business beyond just financial metrics to get a more “balanced” look at performance. The phrase “balanced scorecard” refers to the management report that leaders may use to drive decision making within the business, since this approach looks at more than just numbers, it provides a more wholistic view of a business.

A strategic map is a visual representation of a business’s strategic objectives and their cause-and-effect relationships between each objective. This diagram helps visualize the strategic plan and understand which tasks are dependent on others. This map should be drawn during the development of the strategic plan to get a better understanding of how things should get done and in what order.

Strategic mapping can turn complex strategic plans into easily understandable visual representations. These can be helpful tools for communicating your strategy more clearly to team members and stakeholders within your organization. Strategic maps also help organizations identify success factors, prioritize initiatives, allocate resources, and monitor progress.

A strategic map can be designed in several ways, but needs to address the four main facets of business:

Strategic mapping

  • Financial. This section of the map should identify how the strategy helps meet the financial goals of the business.
  • Customer. This section should address the benefits that the customer will see from the specific strategy.
  • Internal business processes (IBPs). This section shares the benefits of the strategy to the processes of the business and their efficiency.
  • Learning and growth. This section will address how the business’s capabilities and knowledge will improve by using a given strategy.

Getting started with strategic planning

Strategic planning is a helpful tool for aligning everyone in your organization with your objectives and long-term goals. It can also help you gain a better understanding of your place in the market and how you can improve your business outcomes.

When you’re ready to get started, assemble your leadership team, draft your mission and vision statements, and begin by assessing the current state of your business. But you can’t get the most out of your strategic plan without a platform to drive the process forward.

That’s where Adobe Workfront can help. Workfront is an enterprise work management tool that connects work to strategy and drives better collaboration to deliver measurable business outcomes. It integrates people, data, processes, and technology across an organization so you can manage the entire lifecycle of projects from start to finish. By centralizing digital projects, cross-functional teams can connect, collaborate, and execute from anywhere to help them do their best work.

Take a product tour or watch an overview video to see how Workfront can help you execute on your strategic plan to improve your business outcomes.

https://business.adobe.com/blog/perspectives/workfront-and-the-employee-experience

https://business.adobe.com/blog/perspectives/get-the-most-out-of-workfront-discovery-by-avoiding-common-challenges

https://business.adobe.com/blog/basics/annual-planning

The Complete Guide to Writing a Strategic Plan

By Joe Weller | April 12, 2019 (updated January 31, 2024)

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Writing a strategic plan can be daunting, as the process includes many steps. In this article, you’ll learn the basics of writing a strategic plan, what to include, common challenges, and more.

Included on this page, you'll find details on what to include in a strategic plan , the importance of an executive summary , how to write a mission statement , how to write a vision statement , and more.

The Basics of Writing a Strategic Plan

The strategic planning process takes time, but the payoff is huge. If done correctly, your strategic plan will engage and align stakeholders around your company’s priorities.

Strategic planning, also called strategy development or analysis and assessment , requires attention to detail and should be performed by someone who can follow through on next steps and regular updates. Strategic plans are not static documents — they change as new circumstances arise, both internally and externally.

Before beginning the strategic planning process, it’s important to make sure you have buy-in from management, a board of directors, or other leaders. Without it, the process cannot succeed.

Next, gather your planning team. The group should include people from various departments at different levels, and the planning process should be an open, free discussion within the group. It’s important for leaders to get input from the group as a whole, but they don’t necessarily need approval from everyone — that will slow down the process.

The plan author is responsible for writing and putting the final plan together and should work with a smaller group of writers to establish and standardize the tone and style of the final document or presentation.

Sometimes, it’s a good idea to hire an external party to help facilitate the strategic planning process.

John Bryson

“It often can be helpful to have a really good facilitator to organize and pursue strategic conversations,” says Professor John M. Bryson, McKnight Presidential Professor of Planning and Public Affairs at the Hubert H. Humphrey School of Public Affairs, University of Minnesota and author of Strategic Planning for Public and Nonprofit Organizations: A Guide to Strengthening and Sustaining Organizational Achievement .

Byson says the facilitator can be in-house or external, but they need experience. “You need to make sure someone is good, so there needs to be a vetting process,” he says.

One way to gauge a facilitator’s experience is by asking how they conduct conversations. “It’s important for facilitators to lead by asking questions,” Bryson says.

Bryson says that strong facilitators often ask the following questions:

What is the situation we find ourselves in?

What do we do?

How do we do it?

How do we link our purposes to our capabilities?

The facilitators also need to be able to handle conflict and diffuse situations by separating idea generation from judgement. “Conflict is part of strategic planning,” Bryson admits. “[Facilitators] need to hold the conversations open long enough to get enough ideas out there to be able to make wise choices.”

These outside helpers are sometimes more effective than internal facilitators since they are not emotionally invested in the outcome of the process. Thus, they can concentrate on the process and ask difficult questions.

A strategic plan is a dynamic document or presentation that details your company’s present situation, outlines your future plans, and shows you how the company can get there. You can take many approaches to the process and consider differing ideas about what needs to go into it, but some general concepts stand.

“Strategic planning is a prompt or a facilitator for fostering strategic thinking, acting, and learning,” says Bryson. He explains that he often begins planning projects with three questions:

What do you want to do?

How are we going to do it?

What would happen if you did what you want to do?

The answers to these questions make up the meat of the planning document.

A strategic plan is only effective when the writing and thinking is clear, since the intent is to help an organization keep to its mission through programs and capacity, while also building stakeholder engagement.

Question 1: Where Are We Now?

The answer (or answers) to the first question — where are we now? — addresses the foundation of your organization, and it can serve as an outline for the following sections of your strategic plan:

Mission statement

Core values and guiding principles

Identification of competing organizations

Industry analysis (this can include a SWOT or PEST analysis)

Question 2: Where Are We Going?

The answers to this question help you identify your goals for the future of the business and assess whether your current trajectory is the future you want. These aspects of the plan outline a strategy for achieving success and can include the following:

Vision statement about what the company will look like in the future

What is happening (both internally and externally) and what needs to change

The factors necessary for success

Question 3: How Do We Get There?

The answers to this question help you outline the many routes you can take to achieve your vision and match your strengths with opportunities in the market. A Gantt chart can help you map out and keep track of these initiatives.

You should include the following sections:

Specific and measurable goals

An execution plan that identifies who manages and monitors the plan

An evaluation plan that shows how you plan to measure the successes and setbacks that come with implementation

What to Include in a Strategic Plan

Strategic planning terminology is not standardized throughout the industry, and this can lead to confusion. Instead, strategic planning experts use many names for the different sections of a strategic plan.

Denise McNerney

“The terms are all over the map. It’s really the concept of what the intention of the terms are [that is important],” says Denise McNerney, President and CEO of iBossWell, Inc. , and incoming president of the Association for Strategic Planning (ASP). She recommends coming up with a kind of glossary that defines the terms for your team. “One of the most important elements when you’re starting the strategic planning process is to get some clarity on the nomenclature. It’s just what works for your organization. Every organization is slightly different.”

No matter what terms you use, the general idea of a strategic plan is the same. “It’s like drawing a map for your company. One of the first steps is committing to a process, then determining how you’re going to do it,” McNerney explains.

She uses a basic diagram that she calls the strategic plan architecture . The areas above the red dotted line are the strategic parts of the plan. Below the red dotted line are the implementation pieces.

Strategic Plan Architecture

While the specific terminology varies, basic sections of a strategic plan include the following in roughly this order:

Executive summary

Elevator pitch or company description

Vision statement

Industry analysis

Marketing plan

Operations plan

Financial projections

Evaluation methods

Signature page

Some plans will contain all the above sections, but others will not — what you include depends on your organization’s structure and culture.

“I want to keep it simple, so organizations can be successful in achieving [the strategic plan],” McNerney explains. “Your plan has to be aligned with your culture and your culture needs to be aligned with your plan if you’re going to be successful in implementing it.”

The following checklist will help you keep track of what you have done and what you still need to do.

Writing A Strategic Plan Section

‌ Download Strategic Plan Sections Checklist

How to Write a Strategic Plan

Once you’ve assembled your team and defined your terms, it’s time to formalize your ideas by writing the strategic plan. The plan may be in the form of a document, a presentation, or another format.

You can use many models and formats to create your strategic plan (read more about them in this article ). However, you will likely need to include some basic sections, regardless of the particular method you choose (even if the order and way you present them vary). In many cases, the sections of a strategic plan build on each other, so you may have to write them in order.

One tip: Try to avoid jargon and generic terms; for example, words like maximize and succeed lose their punch. Additionally, remember that there are many terms for the same object in strategic planning.

The following sections walk you through how to write common sections of a strategic plan.

How to Write an Executive Summary

The key to writing a strong executive summary is being clear and concise. Don’t feel pressured to put anything and everything into this section — executive summaries should only be about one to two pages long and include the main points of the strategic plan.

The idea is to pique the reader’s interest and get them to read the rest of the plan. Because it functions as a review of the entire document, write the executive summary after you complete the rest of your strategic plan.

Jim Stockmal

“If you have a plan that’s really lengthy, you should have a summary,” says Jim Stockmal, President of the Association for Strategic Planning (ASP). He always writes summaries last, after he has all the data and information he needs for the plan. He says it is easier to cut than to create something.

For more information about writing an effective executive summary, a checklist, and free templates, read this article .

If you want a one-page executive summary, this template can help you decide what information to include.

One-page Executive Summary Template

Download One-Page Executive Summary Template

Excel | Word | PDF

How to Write a Company Description

Also called an elevator pitch , the company description is a brief outline of your organization and what it does. It should be short enough that it can be read or heard during the average elevator ride.

The company description should include the history of your company, the major products and services you provide, and any highlights and accomplishments, and it should accomplish the following:

Define what you are as a company.

Describe what the company does.

Identify your ideal client and customer.

Highlight what makes your company unique.

While this may seem basic, the company description changes as your company grows and changes. For example, your ideal customer five years ago might not be the same as the current standard or the one you want in five years.

Share the company description with everyone in your organization. If employees cannot accurately articulate what you do to others, you might miss out on opportunities.

How to Write a Mission Statement

The mission statement explains what your business is trying to achieve. In addition to guiding your entire company, it also helps your employees make decisions that move them toward the company’s overall mission and goals.

“Ideally, [the mission statement is] something that describes what you’re about at the highest level,” McNerney says. “It’s the reason you exist or what you do.”

Strong mission statements can help differentiate your company from your competitors and keep you on track toward your goals. It can also function as a type of tagline for your organization.

Mission statements should do the following:

Define your company’s purpose. Say what you do, who you do it for, and why it is valuable.

Use specific and easy-to-understand language.

Be inspirational while remaining realistic.

Be short and succinct.

This is your chance to define the way your company will make decisions based on goals, culture, and ethics. Mission statements should not be vague or generic, and they should set your business apart from others. If your mission statement could define many companies in your line of work, it is not a good mission statement.

Mission statements don’t have to be only outward-facing for customers or partners. In fact, it is also possible to include what your company does for its employees in your mission statement.

Unlike other parts of your strategic plan that are designed to be reviewed and edited periodically, your company’s mission statement should live as is for a while.

That said, make the effort to edit and refine your mission statement. Take out jargon like world class, best possible, state of the art, maximize, succeed , and so on, and cut vague or unspecific phrasing. Then let your strategic planning committee review it.

How to Write a Vision Statement

Every action your company does contributes to its vision. The vision statement explains what your company wants to achieve in the long term and can help inspire and align your team.

“The vision is the highest-ordered statement of the desired future or state of what you want your business to achieve,” McNerney explains.

A clear vision statement can help all stakeholders understand the meaning and purpose of your company. It should encourage and inspire employees while setting your company’s direction. It also helps you rule out elements that might not align with your vision.

Vision statements should be short (a few sentences). They should also be memorable, specific, and ambitious. But there is a fine line between being ambitious and creating a fantasy. The vision should be clearly attainable if you follow the goals and objectives you outline later in your strategic planning plan.

Because you need to know your company’s goals and objectives to create an accurate vision statement, you might need to wait until you have more information about the company’s direction to write your vision statement.

Below are questions to ask your team as you craft your vision statement:

What impact do we want to have on our community and industry?

How will we interact with others as a company?

What is the culture of the business?

Avoid broad statements that could apply to any company or industry. For example, phrases like “delivering a wonderful experience” could apply to many industries. Write in the present tense, avoid jargon, and be clear and concise.

Vision statements should accomplish the following:

Be inspiring.

Focus on success.

Look at and project about five to 10 years ahead.

Stay in line with the goals and values of your organization.

Once you write your vision statement, communicate it to everyone in your company. Your team should be able to easily understand and repeat the company’s vision statement. Remember, the statements can change as the environment in and around your company changes.

The Difference Between Mission and Vision Statements

Mission and vision statements are both important, but they serve very different purposes.

Mission statements show why a business exists, while vision statements are meant to inspire and provide direction. Mission statements are about the present, and vision statements are about the future. The mission provides items to act upon, and the vision offers goals to aspire to.

For example, if a vision statement is “No child goes to bed hungry,” the accompanying mission would be to provide food banks within the city limits.

While many organizations have both mission and vision statements, it’s not imperative. “Not everyone has a vision statement,” McNerney says. “Some organizations just have one.”

If you choose to have only one statement, McNerney offers some advice: “Any statement you have, if you have just one, needs to include what [you do], how [you do it], why [you do it], and who you do it for.”

During the planning process, these key statements might change. “Early on in the process, you need to talk about what you are doing and why and how you are doing it. Sometimes you think you know where you want to go, but you’re not really sure,” McNerney says. “You need to have flexibility both on the plan content and in the process.”

How to Write Your Company’s Core Values

Company core values , sometimes called organizational values , help you understand what drives the company to do what it does. In this section, you’ll learn a lot about your company and the people who work with you. It should be relatively easy to write.

“The values are the core of how you operate [and] how you treat your people, both internally and externally. Values describe the behaviors you really want to advance,” McNerney says.

There are both internal and external values looking at your employees and coworkers, as well as customers and outside stakeholders. Pinpointing values will help you figure out the traits of the people you want to hire and promote, as well as the qualities you’re looking for in your customers.

Your values should align with your vision statement and highlight your strengths while mitigating weaknesses. McNerney says many organizations do not really consider or are not honest about their company’s values when working on strategic plans, which can lead to failure.

“Your strategies have to align with your values and vice versa,” she explains.

Many companies’ values sound like meaningless jargon, so take the time to figure out what matters to your company and push beyond generic language.

How to Write about Your Industry

When planning ahead for your business, it’s important to look around. How are matters inside your company? What are your competitors doing? Who are your target customers?

“[If you don’t do a thorough industry analysis], you’re doing your planning with your head in the sand. If you’re not looking at the world around you, you’re missing a whole dimension about what should inform your decision making,” McNerney advises.

Writing about your industry helps you identify new opportunities for growth and shows you how you need to change in order to take advantage of those opportunities. Identify your key competitors, and define what you see as their strengths and weaknesses. Performing this analysis will help you figure out what you do best and how you compare to your competition. Once you know what you do well, you can exploit your strengths to your advantage.

In this section, also include your SWOT (strengths, weaknesses, opportunities, and threats) analysis. You can choose from many templates to help you write this section.

Next, identify your target customers. Think about what they want and need, as well as how you can provide it. Do your competitors attract your target customers, or do you have a niche that sets you apart?

The industry analysis carries a price, but also provides many benefits. “It takes some time and money to do [a thorough industry analysis], but the lack of that understanding says a lot about the future of your organization. If you don’t know what is going on around you, how can you stay competitive?” explains McNerney.

How to Write Strategic Plan Goals and Objectives

This section is the bulk of your strategic plan. Many people confuse goals and objectives, thinking the terms are interchangeable, but many argue that the two are distinct. You can think of them this way:

Goals : Goals are broad statements about what you want to achieve as a company, and they’re usually qualitative. They function as a description of where you want to go, and they can address both the short and long term.

Objectives : Objectives support goals, and they’re usually quantitative and measurable. They describe how you will measure the progress needed to arrive at the destination you outlined in the goal. More than one objective can support one goal.

For example, if your goal is to achieve success as a strategic planner, your objective would be to write all sections of the strategic plan in one month.

iBossWell, Inc.’s McNerney reiterates that there are not hard and fast definitions for the terms goals and objectives , as well as many other strategic planning concepts. “I wouldn’t attempt to put a definition to the terms. You hear the terms goals and objectives a lot, but they mean different things to different people. What some people call a goal , others call an objective . What some people call an objective , others would call a KPI. ” They key, she explains, is to decide what the terms mean in your organization, explain the definitions to key stakeholders, and stick to those definitions.

How to Write Goals

Goals form the basis of your strategic plan. They set out your priorities and initiatives, and therefore are critical elements and define what your plan will accomplish. Some planning specialists use the term strategic objectives or strategic priorities when referring to goals, but for clarity, this article will use the term goals.

“[Goals] are the higher level that contain several statements about what your priorities are,” McNerney explains. They are often near the top of your plan’s hierarchy.

Each goal should reflect something you uncovered during the analysis phase of your strategic planning process. Goals should be precise and concise statements, not long narratives. For example, your goals might be the following:

Eliminate case backlog.

Lower production costs.

Increase total revenue.

Each goal should have a stated outcome and a deadline. Think of goal writing as a formula: Action + detail of the action + a measurable metric + a deadline = goal. For example, your goal might be: Increase total revenue by 5 percent in three product areas by the third quarter of 2020.

Another way to look at it: Verb (action) + adjective (description) = noun (result). An example goal: Increase website fundraising.

Your goals should strike a balance between being aspirational and tangible. You want to stretch your limits, but not make them too difficult to reach. Your entire organization and stakeholders should be able to remember and understand your goals.

Think about goals with varying lengths. Some should go out five to 10 years, others will be shorter — some significantly so. Some goals might even be quarterly, monthly, or weekly. But be careful to not create too many goals. Focus on the ones that allow you to zero in on what is critical for your company’s success. Remember, several objectives and action steps will likely come from each goal.

How to Write Objectives

Objectives are the turn-by-turn directions of how to achieve your goals. They are set in statement and purpose with no ambiguity about whether you achieve them or not.

Your goals are where you want to go. Next, you have to determine how to get there, via a few different objectives that support each goal. Note that objectives can cover several areas.

“You need implementation elements of the plan to be successful,” McNerney says, adding that some people refer to objectives as tactics , actions , and many other terms.

Objectives often begin with the words increase or decrease because they are quantifiable and measurable. You will know when you achieve an objective. They are action items, often with start and end dates.

Use the goal example from earlier: Increase total revenue by 5 percent in three product areas by the third quarter of 2020. In this example, your objectives could be:

Approach three new possible clients each month.

Promote the three key product areas on the website and in email newsletters.

Think of the acronym SMART when writing objectives: Make them specific, measurable, achievable, realistic/relevant, and time-bound.

Breaking down the process further, some strategic planners use the terms strategies and tactics to label ways to achieve objectives. Using these terms, strategies describe an approach or method you will use to achieve an objective. A tactic is a specific activity or project that achieves the strategy, which, in turn, helps achieve the objective.

How to Write about Capacity, Operations Plans, Marketing Plans, and Financial Plans

After you come up with your goals and objectives, you need to figure out who will do what, how you will market what they do, and how you will pay for what you need to do.

“If you choose to shortchange the process [and not talk about capacity and finances], you need to know what the consequences will be,” explains McNerney. “If you do not consider the additional costs or revenues your plan is going to drive, you may be creating a plan you cannot implement.”

To achieve all the goals outlined in your strategic plan, you need the right people in place. Include a section in your strategic plan where you talk about the capacity of your organization. Do you have the team members to accomplish the objectives you have outlined in order to reach your goals? If not, you may need to hire personnel.

The operations plan maps out your initiatives and shows you who is going to do what, when, and how. This helps transform your goals and objectives into a reality. A summary of it should go into your strategic plan. If you need assistance writing a comprehensive implementation plan for your organization, this article can guide you through the process.

A marketing plan describes how you attract prospects and convert them into customers. You don’t need to include the entire marketing plan in your strategic plan, but you might want to include a summary. For more information about writing marketing plans, this article can help.

Then there are finances. We would all like to accomplish every goal, but sometimes we do not have enough money to do so. A financial plan can help you set your priorities. Check out these templates to help you get started with a financial plan.

How to Write Performance Indicators

In order to know if you are reaching the goals you outline in your strategic plan, you need performance indicators. These indicators will show you what success looks like and ensure accountability. Sadly, strategic plans have a tendency to fail when nobody periodically assesses progress.

Key performance indicators (KPIs) can show you how your business is progressing. KPIs can be both financial and nonfinancial measures that help you chart your progress and take corrective measures if actions are not unfolding as they should. Other terms similar to KPIs include performance measures and performance indicators .

Performance indicators are not always financial, but they must be quantifiable. For example, tracking visitors to a website, customers completing a contact form, or the number of proposals that close with deals are all performance indicators that keep you on track toward achieving your goals.

When writing your performance indicators, pay attention to the following:

Define how often you need to report results.

Every KPI must have some sort of measure.

List a measure and a time period.

Note the data source where you will get your information to measure and track.

ASP’s Stockmal has some questions for you to ask yourself about picking performance indicators.

Are you in control of the performance measure?

Does the performance measure support the strategic outcomes?

Is it feasible?

Is data available?

Who is collecting that data, and how will they do it?

Is the data timely?

Is it cost-effective to collect that data?

ls the goal quantifiable, and can you measure it over time?

Are your targets realistic and time-bound?

Stockmal also says performance indicators cannot focus on only one thing at the detriment of another. “Don’t lose what makes you good,” he says. He adds that focusing on one KPI can hurt other areas of a company’s performance, so reaching a goal can be short-sided.

Some performance indicators can go into your strategic plan, but you might want to set other goals for your organization. A KPI dashboard can help you set up and track your performance and for more information about setting up a KPI dashboard, this article can help.

Communicating Your Strategic Plan

While writing your strategic plan, you should think about how to share it. A plan is no good if it sits on a shelf and nobody reads it.

Stefan Hofmeyer

“After the meetings are over, you have to turn your strategy into action,” says Stefan Hofmeyer, an experienced strategist and co-founder of Global PMI Partners . “Get in front of employees and present the plan [to get everyone involved].” Hofmeyer explains his research has shown that people stay with companies not always because of money, but often because they buy into the organization’s vision and want to play a part in helping it get where it wants to go. “These are the people you want to keep because they are invested,” he says.

Decide who should get a physical copy of the entire plan. This could include management, the board of directors, owners, and more. Do your best to keep it from your competitors. If you distribute it outside of your company, you might want to attach a confidentiality waiver.

You can communicate your plan to stakeholders in the following ways:

Hold a meeting to present the plan in person.

Highlight the plan in a company newsletter.

Include the plan in new employee onboarding.

Post the plan on the employee intranet, along with key highlights and a way to track progress.

If you hold a meeting, make sure you and other key planners are prepared to handle the feedback and discussion that will arise. You should be able to defend your plan and reinforce its key areas. The goal of the plan’s distribution is to make sure everyone understands their role in making the plan successful.

Remind people of your company’s mission, vision, and values to reinforce their importance. You can use posters or other visual methods to post around the office. The more that people feel they play an important part in the organization’s success, they more successful you will be in reaching your goals of your strategic plan.

Challenges in Writing a Strategic Plan

As mentioned, strategic planning is a process and involves a team. As with any team activity, there will be challenges.

Sometimes the consensus can take priority over what is clear. Peer pressure can be a strong force, especially if a boss or other manager is the one making suggestions and people feel pressured to conform. Some people might feel reluctant to give any input because they do not think it matters to the person who ultimately decides what goes into the plan.

Team troubles can also occur when one or more members does not think the plan is important or does not buy into the process. Team leaders need to take care of these troubles before they get out of hand.

Pay attention to your company culture and the readiness you have as a group, and adapt the planning process to fit accordingly. You need to find the balance between the process and the final product.

The planning process takes time. Many organizations do not give themselves enough time to plan properly, and once you finish planning, writing the document or presentation also takes time, as does implementation. Don’t plan so much that you ignore how you are going to put the plan into action. One symptom of this is not aligning the plan to fit the capacity or finances of the company.

Stockmal explains that many organizations often focus too much on the future and reaching their goals that they forget what made them a strong company in the first place. Business architecture is important, which Stockmal says is “building the capabilities the organization needs to fulfill its strategy.” He adds that nothing happens if there is no budget workers to do the work necessary to drive change.

Be careful with the information you gather. Do not take shortcuts in the research phase — that will lead to bad information coming out further in the process. Also, do not ignore negative information you may learn. Overcoming adversity is one way for companies to grow.

Be wary of cutting and pasting either from plans from past years or from other similar organizations. Every company is unique.

And while this may sound obvious, do not ignore what your planning process tells you. Your research might show you should not go in a direction you might want to.

Writing Different Types of Strategic Plans

The strategic planning process will differ based on your organization, but the basic concepts will stay the same. Whether you are a nonprofit, a school, or a for-profit entity, strategic plans will look at where you are and how you will get to where you want to go.

How to Write a Strategic Plan for a Nonprofit

For a nonprofit, the strategic plan’s purpose is mainly how to best advance the mission. It’s imperative to make sure the mission statement accurately fits the organization.

In addition to a SWOT analysis and other sections that go into any strategic plan, a nonprofit needs to keep an eye on changing factors, such as funding. Some funding sources have finite beginnings and endings. Strategic planning is often continuous for nonprofits.

A nonprofit has to make the community care about its cause. In a for-profit organization, the marketing department works to promote the company’s product or services to bring in new revenue. For a nonprofit, however, conveying that message needs to be part of the strategic plan.

Coming up with an evaluation method and KPIs can sometimes be difficult for a nonprofit, since they are often focused on goals other than financial gain. For example, a substance abuse prevention coalition is trying to keep teens from starting to drink or use drugs, and proving the coalition’s methods work is often difficult to quantify.

This template can help you visually outline your strategic plan for your nonprofit.

Nonprofit Strategic Plan Template

Download Nonprofit Strategic Plan Template

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How to Write a Strategic Plan for a School

Writing a strategic plan for a school can be difficult because of the variety of stakeholders involved, including students, teachers, other staff, and parents.

Strategic planning in a school is different from others because there are no markets to explore, products to produce, clients to woo, or adjustable timelines. Schools often have set boundaries, missions, and budgets.

Even with the differences, the same planning process and structure should be in place for schools as it is for other types of organizations.

This template can help your university or school outline your strategic plan.

University Strategic Plan Outline Word Template

‌ ‌Download University Strategic Plan Outline – Word

How to Write a 5-Year Strategic Plan

There is no set time period for a strategic plan, but five years can be a sweet spot. In some cases, yearly planning might keep you continually stuck in the planning process, while 10 years might be too far out.

In addition to the basic sections that go into any strategic plan, when forecasting five years into the future, put one- and three-year checkpoints into the plan so you can track progress intermittently.

How to Write a 3-Year Strategic Plan

While five years is often the strategic planning sweet spot, some organizations choose to create three-year plans. Looking too far ahead can be daunting, especially for a new or changing company.

In a three-year plan, the goals and objectives have a shorter timeframe and you need to monitor them more frequently. Build those checkpoints into the plan.

“Most organizations do a three- to five-year plan now because they recognize the technology and the changes in business that are pretty dynamic now,” Stockmal says.

How to Write a Departmental Strategic Plan

The first step in writing a strategic plan for your department is to pay attention to your company’s overall strategic plan. You want to make sure the plans align.

The steps in creating a plan for a department are the same as for an overall strategic plan, but the mission statement, vision, SWOT analysis, goals, objectives, and so on are specific to only the people in your department. Look at each person separately and consider their core competencies, strengths, capabilities, and weaknesses. Assign people who will be responsible for certain tasks and tactics necessary to achieve your goals.

If you have access to a plan from a previous year, see how your department did in meeting its goals. Adjust the new plan accordingly.

When you finish your departmental plan, make sure to submit it to whomever is responsible for your company’s overall plan. Expect to make changes.

How to Write a Strategic Plan for a Project

A strategic plan is for the big picture, not for a particular project for an organization. Instead of a strategic plan, this area would fall under project management.

If you have a failing project and need to turn it around, this article might help.

How to Write a Personal Strategic Plan

Creating a strategic plan isn’t only for businesses. You can also create a strategic plan to help guide both your professional and personal life. The key is to include what is important to you. This process takes time and reflection.

Be prepared for what you discover about yourself. Because you will be looking at your strengths and weaknesses, you might see things you do not like. It is important to be honest with yourself. A SWOT analysis on yourself will give you some honest feedback if you let it.

Begin with looking at your life as it is now. Are you satisfied? What do you want to do more or less? What do you value most in your life? Go deeper than saying family, happiness, and health. This exercise will help you clarify your values.

Once you know what is important to you, come up with a personal mission statement that reflects the values you cherish. As it does within a business, this statement will help guide you in making future decisions. If something does not fit within your personal mission, you shouldn’t do it.

Using the information you discovered during your SWOT and mission statement process, come up with goals that align with your values. The goals can be broad, but don’t forget to include action items and timeframes to help you reach your goals.

As for the evaluation portion, identify how you will keep yourself accountable and on track. You might involve a person to remind you about your plan, calendar reminders, small rewards when you achieve a goal, or another method that works for you.

Below is additional advice for personal strategic plans:

There are things you can control and things you cannot. Keep your focus on what you can act on.

Look at the positive instead of what you will give up. For example, instead of focusing on losing weight, concentrate on being healthier.

Do not overcommit, and do not ignore the little details that help you reach your goals.

No matter what, do not dwell on setbacks and remember to celebrate successes.

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Strategic Planning in Business

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Table of Contents

What is business strategic planning, the strategic planning process in 3 steps, what is a business strategic plan, key components of a business strategic plan, business strategic plan example, strategic plan vs. business plan.

Strategic planning is key for success in business. By planning strategically for the future, a business can achieve its goals. It’s easier said than done, but the more you know about strategic planning, the better chance you have at succeeding.

Business strategic planning is the process of creating a business strategy and an accompanying business strategic plan to implement a company’s vision and achieve its goals over time. The main goal of strategic planning is to take a company from its current state to its desired state through a series of business actions.

The business strategic planning process usually consists of defining business goals, doing a SWOT analysis to assess the company’s business environment and developing a business strategy. The leadership team is in charge of business strategic planning, as it has a very important impact on the overall direction of a company.

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Strategic Plan Template

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Strategic Planning is one of the three levels of organizational planning, which is the process that allows organizations to define its objectives for the future and make action plans to guide the efforts of each of its departments, employees and management levels .

The other two levels of organizational planning are tactical and operational planning. Let’s see how these three types of organizational planning differ from each other.

Strategic Planning vs. Tactical Planning

While a strategic plan is created by the top management team and defines the high-level strategic goals of an entire organization, a tactical plan has a narrower scope. A tactical plan is created by the middle management level of a business and describes the specific goals, initiatives, challenges and resources for each department and how its efforts contribute to the completion of the larger strategic plan of the business.

Strategic Planning vs. Operational Planning

An operational plan allows you to establish guidelines, procedures and best practices for the daily operations of your business. The main objective of operational planning is to ensure that your business operations contribute to the accomplishment of the strategic objectives defined in the strategic plan.

Strategic planning is very important, but it doesn’t need to be overly complex. Let’s simplify this process by breaking it down into three simple steps.

1. Set Business Goals

A business goal is simply an accomplishment that a company wants to achieve in the short, medium or long term. Business goals can take many forms such as increasing sales, revenue, customer satisfaction levels and brand positioning, among many other things.

2. Conduct a SWOT Analysis

The goal of a business strategy is to leverage the strengths of a business and minimize the impact of its weaknesses. Those two things are internal factors. The strengths of a company can become competitive advantages that can lead to business growth. There are many types of business strengths and weaknesses such as scale, speed, or R&D, just to name a few.

Threats and opportunities refer to external factors such as competitors or an untapped market. A successful business strategy considers all of these factors to define how a product or service will be created, marketed and sold, and a SWOT analysis is a great starting point.

3. Develop a Business Strategy & Strategic Plan

Once you’ve completed your SWOT analysis, you can create a business strategy that’s designed to help position your company in the market. Your business strategy guides how you produce, market and sell your product or service based on internal and external analysis.

Then, you’ll need a strategic plan to explain how you plan to execute that business strategy. To oversee the execution of a business strategic plan, managers need to manage time, costs and tasks. ProjectManager is a project planning tool that allows managers to plan, schedule and manage their team’s work. Plan your work with professional tools such as Gantt charts, kanban boards, task lists and calendars. Then track your progress in real time to stick to your strategic plan. Get started for free.

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A business strategic plan is an implementation plan that’s meant to turn a business strategy into action items that can be executed over time. Business strategic plans are usually executed over the course of 3-5 years.

How to Develop a Strategic Plan

To develop a strategic plan, you should ask yourself the following three questions.

  • Where Is the Business Now? Gather as much information on your business as possible including internal operations and what drives its profitability. Compare the business to competitors and note the similarities and differences in detail. This isn’t a day-to-day operational study, but a broader look at the business in context to itself and its environment. But don’t go crazy; stay realistic in terms of your business goals. Be detached and critical in your analysis.
  • Where Do You Want to Go? Now it’s time to decide what your top-level objectives are for the future. Start with a vision statement , objectives, values, techniques and goals. Look forward to five years or more to forecast where you want the business to be at that time. This means figuring out what the focus of the business will be in the future. Will that focus differ from what it is now, and what competitive advantages do have you in the marketplace? This is where you build the foundation and initiate changes.
  • How Can You Get There? Once you know where you are and where you want to go, it’s time to plan. What are the changes to the structure, financing, etc., necessary for the business to get there? Decide on the best way to implement those changes, the timeframe with deadlines and how to finance it. Remember, this is looking at the business at large, so consider major endeavors such as diversification, existing growth, acquisition and other functional matters. A gap analysis can be a big help here.

Once you’ve answered the above questions and have a way to achieve the long-term goals laid out in the strategic plan, the next step is making sure you have the right person to manage all of its moving parts. They must be analytical, a creative thinker and able to grasp operational detail.

That doesn’t mean the strategic plan is led by one person. It’s best to not do it alone; seek other opinions. The people in your organization, from bottom to top, are all great resources to offer perspectives from their standpoints. Don’t forget to take in the advice of stakeholders, including customers, clients, advisors and consultants.

To create a strong strategic plan, one must first have a strong understanding of the business that is to expand. How does the business work? Where does the business stand in relation to competitors in the marketplace? A strategic plan is built on the bones of the following foundational elements:

  • Mission Statement: The mission statement describes what your company does.
  • Vision Statement: The vision statement explains where your company expects to be in the future.
  • Core Values: Guiding principles that shape your company’s organizational culture.
  • Business Objectives: Consider using the SMART goal-setting technique . This simply means setting up specific, measurable, attainable, relevant and time-bound objectives that your company wants to achieve.
  • SWOT Analysis: External and internal factors that make up your company’s business competitive environment.
  • Action Plan: A plan outlining steps that will be taken to achieve the business objectives of your organization.
  • Financials: A section that shows the financial performance expectations, the budget and the resources that will be required to implement the action plan.
  • Performance Measurements: Performance indicators that will be used to measure the effectiveness of the action plan.

Never forget to check your strategic plan against reality. In addition to being achievable, it must be practical for your business environment, resources and marketplace.

Now let’s look at a simple business strategic plan example. This is a strategic plan for a small construction company.

1. Mission, Vision & Core Values

  • Mission Statement: To build residential spaces that provide wellbeing for our clients.
  • Vision Statement: To offer the best construction experience for our clients and expand our brand throughout the globe.
  • Core Values: Sustainable innovation and respect for the environment.

2. Business Objectives

  • Business Objective 1: Grow operating margin from 15% to 20% over the next year.
  • Business Objective 2: Reduce operating costs by 5% over the next quarter
  • Business Objective 3: Increase the number of new contracts generated by 10% over the next year

3. SWOT Analysis

  • Strengths: Available financing, brand visibility and know-how.
  • Weaknesses: Lack of PPE, human capital and expertise in construction areas such as plumbing, electrical work and masonry, which requires subcontractors.
  • Opportunities: Lack of environmentally-friendly construction companies in the market.
  • Threats: Larger construction companies compete for contracts in the area.

4. Action Plan

  • Business Objective 1: To grow operating margin, new employees with plumbing, electrical work and masonry experience will be hired to cut down subcontractor costs. This must be done by the end of the first quarter.
  • Business Objective 2: To reduce operating costs, the company will acquire property, plant and equipment. By doing this, the company will no longer rent equipment from third parties, which will reduce operating costs significantly in the medium and long term.
  • Business Objective 3: To increase the number of new contracts generated, the leadership team will invest more in the PR, marketing and advertising departments. The company will also invest in key positions for the construction bidding process such as contract estimators.
  • Financials: This section will explain in detail what are the costs associated with the work items in the action plan as well as the expected financial benefits for the company.

Our free strategic plan template helps leadership teams gather important information about their business strategy, which makes it the perfect tool to start shaping a strategic plan for your business or project.

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Strategic Planning Templates

Here are some free strategic planning templates for Word and Excel that will help you with key aspects of the strategic planning process. Use them individually or add them to your strategic plan template for Word so you don’t miss any detail about your organizational strategy.

Strategic Map Template

This strategic map template it’s a strategic planning tool that allows you to visualize all the strategic objectives of your organization and understand how they’re interrelated.

strategic map template

Balanced Scorecard Template

A balanced scorecard is a chart that allows you to set strategic objectives that will benefit your business in one of four key areas, its finances, internal processes, customer satisfaction and organizational learning.

Balanced Scorecard Template

Vision Statement Template

The vision statement is one of the most important aspects of the organizational strategy of a business. It’s a short but powerful statement that describes the overall direction of a company and what it intends to achieve in the future. This free vision statement template will help you focus on what matters most and define the vision of your business.

Vision Statement Template

A strategic plan is a type of business plan, but there are distinctions between the two. Whereas a strategic plan is for implementing and managing the strategic direction of a business, a business plan is more often the document that starts a business.

A business plan is used primarily to get funding for the venture or direct the operation, and the two plans target different timeframes in business history. A strategic plan is used to investigate a future period, usually between three-to-five years. A business plan is more routinely a year out.

A Different Intent

A strategic plan offers a business focus, direction and action to help the business grow from the point it presently resides to a greater market share in the future. A business plan, on the other hand, is more focused on offering a structure to capture and implement ideas that initially define a business.

With a strategic plan, existing resources are prioritized to increase revenue and return on investment. The business plan is different in that it’s seeking funding for a venture that doesn’t yet exist. Where a strategic plan is building a sustainable competitive advantage in the future, a business plan is designed to take advantage of a current business opportunity.

So, a strategic plan is communicating direction to teams and stakeholders in order to achieve future goals. A business plan isn’t talking to staff, which is likely nonexistent or minimal at this point. It’s speaking to banks and other financial supporters.

Related Strategic Planning Content

  • Strategic Project Management: Planning Strategic Projects
  • Strategic Planning Models: An Introduction to 5 Popular Models
  • A Quick Guide to Strategic Initiatives
  • How to Create a Strategic Roadmap for Your Organization
  • Project Alignment: Aligning Your Project to Business Strategy

Strategic planning, like any planning, requires keeping a lot of balls in the air. That means having the right tool to plan, monitor and report on all the various tasks and resources. ProjectManager is online project management software that gives you control over every aspect of creating and implementing a strategic plan. Try it today with this free 30-day trial.

Click here to browse ProjectManager's free templates

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How To Write A Strategic Plan That Gets Results + Examples

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Are you feeling overwhelmed with the thought of writing a strategic plan for your business? Do you want to create a plan that will help you move your team forward with inspired alignment and disciplined execution? You're not alone.

Gone are the days of rigid, 5- or 10-year planning cycles that do not leave room for flexibility and innovation. To stay ahead of the curve, you need a dynamic and execution-ready strategic plan that can guide your business through the ever-evolving landscape.

At Cascade, we understand that writing a strategic plan can be dreadful, especially in today's unpredictable environment. That's why we've developed a simple model that can help you create a clear, actionable plan to achieve your organization's goals. With our tested and proven strategic planning template , you can write a strategic plan that is both adaptable and effective .

Whether you're a seasoned strategy professional or a fresh strategy planner, this guide will walk you through the process step-by-step on how to write a strategic plan. By the end, you'll have a comprehensive, easy-to-follow strategic plan that will help you align your organization on the path to success.

#1 Strategy Execution Platform Don't plan to fail.  Break down the complexity of your plans from high-level initiative to  executable outcome.   Learn how. Book a demo!

Follow this guide step-by-step or skip to the part you’re most interested in: 

  • Pre-Planning Phase: Build The Foundation

Cascade Model For Strategic Planning: What You Need To Know

  • Key Elements of a Strategic Plan

How To Write A Strategic Plan In 6 Simple Steps

3 strategic plan examples to get you started, how to achieve organizational alignment with your strategic plan.

  • Quick Overview of Key Steps In Writing A Strategic Plan

Create An Execution-Ready Strategic Plan With Cascade 🚀

*Editor’s note: This article is part of our ‘How to create a Strategy’ collection. At the end of this article, you’ll find a link to each piece within this collection so you can dig deeper into each element of an effective strategic plan and more related resources to master strategy execution.

Pre-Planning Phase: Build The Foundation 

Before we dive into writing a strategic plan, it's essential to know the basics you should cover before the planning phase. The pre-planning phase is where you'll begin to gather the data and strategic insights necessary to create an effective strategic plan.

1. Run a strategic planning workshop

The first step is to run a strategic planning workshop with your team. Get your team in the room, get their data, and gather their insights. By running this workshop, you'll foster collaboration and bring fresh perspectives to the table. And that’s not all. 

The process of co-creating and collaborating to put that plan together with stakeholders is one of the most critical factors in strategy execution . According to McKinsey’s research , initiatives in which employees contribute to development are 3.4 times more likely to be successful. They feel like the plan is a result of their efforts, and they feel ownership of it, so they're more likely to execute it. 

💡 Tip: Use strategy frameworks to structure your strategy development sessions, such as GAP analysis , SWOT analysis , Porter’s Five Forces , Ansoff matrix , McKinsey 7S model , or GE matrix . You can even apply the risk matrix that will help you align and decide on key strategic priorities.

2. Choose your strategic planning model

Before creating your strategic plan, you need to decide which structure you will use. There are hundreds of ways to structure a strategic plan. You’ve likely heard of famous strategic models such as OKRs and the Balanced Scorecard .

But beyond the well-known ones, there's also a myriad of other strategic planning models ranging from the extremely simple to the absurdly complex.

Many strategic models work reasonably well on paper, but in reality, they don't show you how to write a strategic plan that fits your organization's needs.

Here are some common weaknesses most popular strategic models have:

  • They're too complicated. People get lost in terminology rather than focus on execution.
  • They don’t scale. They work well for small organizations but fail when you try to extend them across multiple teams.
  • They're too rigid. They force people to add layers for the sake of adding layers.
  • They're neither tangible nor measurable. They’re great at stating outcomes but lousy at helping you measure success.
  • They're not adaptable. As we saw in the last years, the business environment can change quickly. Your model needs to be able to work in your current situation and adapt to changing economic landscapes.

Our goal in this article is to give you a simpler, more effective way to write a strategic plan. This is a tested and proven strategic planning model that has been refined over years of working with +20,000 teams around the world. We call it the Cascade Strategy Model.

This approach has proven to be more effective than any other model we have tried when it comes to executing and implementing the strategy .

It’s easy to use and it works for small businesses, fast-growing startups, as well as multinationals trying to figure out how to write a fail-proof strategic plan.

We’ve created a simple diagram below to illustrate what a strategic plan following the Cascade Model will look like when it's completed:

The Cascade Model for strategic planning and execution

Rather than a traditional roadmap , imagine your strategy as a flowchart. Each row is a mandatory step before moving on to the next.

We call our platform  Cascade for a reason: strategy must cascade throughout an organization along with values, focus areas, and objectives.

Above all, the Cascade Model is intended to be execution-ready —in other words, it has been proven to deliver success far beyond strategic planning. It adds to a successful strategic management process.Key elements of a Strategic Plan

Key Elements Of A Strategic Plan

The key elements of a strategic plan include: 

  • Vision : Where do you want to get to? 
  • Values : How will you behave on the journey? 
  • Focus Areas : What are going to be your strategic priorities? 
  • Strategic objectives : What do you want to achieve? 
  • Actions and projects : How are you going to achieve the objectives? 
  • KPIs : How will you measure success?

In this part of the article, we will give you an overview of each element within the Cascade Model. You can follow this step-by-step process in a spreadsheet , or sign up to get instant access to a free Cascade strategic planning template and follow along as we cover the key elements of an effective strategic plan.

Your vision statement is your organization's anchor - it defines where you want to get to and is the executive summary of your organization's purpose. Without it, your strategic plan is like a boat without a rudder, at the mercy of strong winds and currents like Covid and global supply chain disruptions.

A good vision statement can help funnel your strategy towards long-term goals that matter the most to your organization, and everything you write in your plan from this point on will help you get closer to achieving your vision.

Trying to do too much at once is a surefire way to sink your strategic plan. By creating a clear and inspiring vision statement , you can avoid this trap and provide guidance and inspiration for your team. A great vision statement might even help attract talent and investment into your organization.

For example, a bike manufacturing company might have a vision statement like, “To be the premier bike manufacturer in the Pacific Northwest.” This statement clearly articulates the organization's goals and is a powerful motivator for the team.

In short, don't start your strategic plan without a clear vision statement. It will keep your organization focused and help you navigate toward success.

📚 Recommended read: How to Write a Vision Statement (With Examples, Tips, and Formulas)

Values are the enablers of your vision statement —they represent how your organization will behave as you work towards your strategic goals. Unfortunately, many companies throw around meaningless words just for the purpose of PR, leading to a loss of credibility.

To avoid this, make sure to integrate your organization’s core values into everyday operations and interactions. In today's highly-competitive world, it's crucial to remain steadfast in your values and cultivate an organizational culture that's transparent and trustworthy.

Companies with the best company cultures consistently outperform competitors and their average market by up to 115.6%, as reported by Glassdoor . 

For example, a bike manufacturing company might have core values like:

  • Accountability

These values reflect the organization's desire to become the leading bike manufacturer, while still being accountable to employees, customers, and shareholders.

👉 Here’s how to add vision and values to your strategic plan in Cascade: 

After you sign up and invite your team members to collaborate on the plan, navigate to Plans and Teams > Teams page, and add the vision, mission and values. This will help you to ensure that the company’s vision, mission statement, and values are always at top of mind for everyone.

📚When you're ready to start creating some company values, check out our guide, How To Create Company Values .

3. Focus Areas

Your focus areas are the strategic priorities that will keep your team on track and working toward the company’s mission and vision. They represent the high-level areas that you need to focus on to achieve desired business outcomes.

In fact, companies with clearly defined priorities are more likely to achieve their objectives. According to a case study by the Harvard Business Review , teams that focus on a small number of key initiatives are more likely to succeed than those that try to do too much. 

That’s also something that we usually recommend to our customers when they set up their strategic plan in Cascade. Rather than spreading your resources too thin over multiple focus areas, prioritize three to five. 

Following our manufacturing example above, some good focus areas include:

  • Aggressive growth
  • Producing the nation's best bikes
  • Becoming a modern manufacturer
  • Becoming a top place to work

Your focus areas should be tighter in scope than your vision statement, but broader than specific goals, time frames, or metrics. 

By defining your focus areas, you'll give your teams a guardrail to work within, which can help inspire innovation and creative problem-solving. 

With a clear set of focus areas, your team will be better able to prioritize their work and stay focused on the most important things, which will ultimately lead to better business results.

👉Here’s how you can set focus areas in Cascade: 

In Cascade, you can add focus areas while creating or importing an existing strategic plan from a spreadsheet. With Cascade’s Focus Area deep-dive functionality , you will be able to: 

  • Review the health of your focus areas in one place.
  • Get a breakdown by plans, budgets, resources, and people behind each strategic priority. 
  • See something at-risk? Drill down into each piece of work regardless of how many plans it's a part of.

add focus areas in cascade strategy execution platform

📚 Recommended read: Strategic Focus Areas: How to create them + Examples

4. Strategic Objectives

The importance of setting clear and specific objectives for your strategic plan cannot be overstated. 

Strategic objectives are the specific and measurable outcomes you want to achieve . While they should align with your focus areas, they should be more detailed and have a clear deadline. 

According to the 2022 State of High Performing Teams report , there is a strong correlation between goals and success not only at the individual and team level but also at the organizational level. Here’s what they found: 

  • Employees who are unaware of their company's goals are over three times more likely to work at a company that is experiencing a decline in revenue than employees who are aware of the goals. 
  • Companies with shrinking revenues are almost twice as likely to have employees with unclear work expectations. 

Jumping straight into actions without defining clear objectives is a common mistake that can lead to missed opportunities or misalignment between strategy and execution.

To avoid this pitfall, we recommend you add between three and six objectives to each focus area .

It's here that we need to start being a bit more specific for the first time in your strategic planning process . Let's take a look at an example of a well-written strategic objective:

  • Continue top-line growth that outpaces the industry by 31st Dec 2023.

This is too specific to be a focus area. While it's still very high level, it indicates what the company wants to accomplish and includes a clear deadline. Both these aspects are critical to a good strategic objective.

Your strategic objectives are the heart and soul of your plan, and you need to ensure they are well-crafted. So, take the time to create well-planned objectives that will help you achieve your vision and lead your organization to success. 

👉Here’s how you can set objectives in Cascade: 

Adding objectives in Cascade is intuitive, straightforward, and accessible from almost anywhere in the workspace. With one click, you’ll open the objective sidebar and fill out the details. These can include a timeline, the objective’s owner, collaborators, and how your objective will be measured (success criteria).

📚 Recommended read: What are Strategic Objectives? How to write them + Examples

5. Actions and projects

Once you’ve defined your strategic objectives, the next step is to identify the specific strategic initiatives or projects that will help you achieve those objectives . They are short-term goals or actionable steps you or your team members will take to accomplish objectives. They should leverage the company’s resources and core competencies. 

Effective projects and actions in your strategic plan should: 

  • Be extremely specific. 
  • Contain a deadline.
  • Have an owner.
  • Align with at least one of your strategic objectives.
  • Provide clarity on how you or your team will achieve the strategic objective.

Let's take a look at an example of a well-written project continuing with our bike manufacturing company using the strategic objective from above:

Strategic objective: Continue top-line growth that outpaces the industry by 31st Dec 2023.

Project: Expand into the fixed gear market by 31st December 2023.

This is more specific than the objective it links to, and it details what you will do to achieve the objective.

Another common problem area for strategic plans is that they never quite get down to the detail of what you're going to do.

It's easier to state "we need to grow our business," but without concrete projects and initiatives, those plans will sit forever within their PowerPoint templates, never to see the light of day after their initial creation.

Actions and projects are where the rubber meets the road. They connect the organizational strategic goals with the actual capabilities of your people and the resources at their disposal. Defining projects is a vital reality check every strategic plan needs.

👉Here’s how you create actions and projects in Cascade: 

From the Objective sidebar, you can choose to add a project or action under your chosen objective. In the following steps, you can assign an owner and timeline to each action or project.

Plus, in Cascade, you can track the progress of each project or action in four different ways. You can do it manually, via milestones, checklists, or automatically by integrating with Jira and 1000+ other available integrations .  

📚 Recommended read: How to create effective projects

Measuring progress towards strategic objectives is essential to effective strategic control and business success. That's where Key Performance Indicators (KPIs) come in. KPIs are measurable values that track progress toward achieving key business objectives . They keep you on track and help you stay focused on the goals you set for your organization.

To get the most out of your KPIs, make sure you link them to a specific goal or objective. In this way, you'll avoid creating KPIs that don't contribute to your objectives and distract you from focusing on what matters. 

Ideally, you will add both leading and lagging KPIs to each objective so you can get a more balanced view of how well you're progressing. Leading KPIs can indicate future performance while lagging KPIs show how well you’ve done in the past. Both types of KPIs are critical for operational planning and keeping your business on track.

Think of KPIs as a form of signpost in your organization. They provide critical insights that inform business leaders of their organization’s progress toward key business objectives. Plus, they can help you identify opportunities faster and capitalize on flexibility. 

👉Here’s how you can set and track KPIs in Cascade: 

In Cascade , you can add measures while creating your objectives or add them afterward. Open the Objective sidebar and add your chosen measure. 

When you create your Measure, you can choose how to track it. Using Cascade, you can track it manually or automatically. You can automate tracking via 1000+ integrations , including Excel spreadsheets and Google Sheets. In this way, you can save time and ensure that your team has up-to-date information for faster and more confident decision-making.

📚 Recommended reads:

  • 10 Popular KPI Software Tools To Connect & Visualize Your Data (2023 Guide)
  • ‍ How To Track KPIs To Hit Your Business Goals

Corporate Strategic Plan 

Following the steps outlined above, you should end up with a strategic plan that looks something like this:

corporate strategy plan template in cascade

This is a preview of a corporate strategic plan template that is pre-filled with examples. Here you can use the template for free and begin filling it out to align with your organization's needs. Plus, it’s suitable for organizations of all sizes and any industry. 

Once you fill in the template, you can also switch to the timeline view. You’ll get a complete overview of how the different parts of your plan are distributed across the roadmap in a Gantt chart view.

timeline view strategic planning corporate strategy

This template will help you create a structured approach to the strategic planning process, focus on key strategic priorities, and drive accountability to achieve necessary business outcomes. 

👉 Get your free corporate strategic plan template here.

Coca-Cola Strategic Plan 

Need a bit of extra inspiration to start writing your organization’s strategic plan? Check out this strategic plan example, inspired by Coca-Cola’s business plan: 

coca-cola strategy plan template in cascade

This template is pre-filled with Coca-Cola’s examples so you can inspire your strategic success on one of the most iconic brands on the planet. 

👉 Grab your free example of a Coca-Cola strategic plan here.

The Ramsay Health Care expansion strategy

Ramsay Health Care is a multinational healthcare provider with a strong presence in Australia, Europe, and Asia.

Almost all of its growth was organic and strategic. The company founded its headquarters in Sydney, Australia, but in the 21st century, it decided to expand globally through a primary strategy of making brownfield investments and acquisitions in key locations.

Ramsay's strategy was simple yet clever. By becoming a majority shareholder of the biggest local players, the company expanded organically in each region by leveraging and expanding their expertise.

Over the last two decades, Ramsay's global network has grown to 460 locations across 10 countries with over $13 billion in annual revenue.

📚 Recommended read: Strategy study: The Ramsay Health Care Growth Study

✨ Bonus resource: We've created a list of the most popular and free strategic plan templates in our library that will help you build a strategic plan based on the Cascade model explained in this article. You can use these templates to create a plan on a corporate, business unit, or team level.

We highlighted before that other strategic models often fail to scale strategic plans and goals scales across multiple teams and organizational levels. 

In an ideal world, you want to have a maximum of two layers of detail underneath each of your focus areas. This means you'll have a focus area, followed by a layer of objectives. Underneath the objectives, you'll have a layer of actions, projects, and KPIs.

Diagram of the Cascade Model framework showing the structure for focus areas, objectives, KPIs, actions and projects

If you have a single team that’s responsible for the strategy execution, this works well. However, how do you implement a strategy across multiple and cross-functional teams? And why is it important? 

According to LSA research of 410 companies across 8 industries, highly aligned companies grow revenue 58% faster and are 72% more profitable. And this is what Cascade can help you achieve. 

To achieve achieve organization-wide alignment with your strategic plan and impact the bottom line, there are two ways to approach it in Casade: through contributing objectives or shared objectives .

1. Contributing objectives

This approach involves adding contributing objectives that link to your main strategic objectives, like this:

diagram showing contributing objectives in the cascade model

For each contributing objective, you simply repeat the Objective → Action/Project → KPI structure as follows:

contributing objectives with kpis and actions cascade model

Here's how you can create contributing objectives in Cascade: 

Option A: Create contributing objectives within the same plan 

This means creating multiple contributing objectives within the same strategic plan that contribute to the main objective. 

However, be aware that if you have a lot of layers, your strategic plan can become cluttered, and people might have difficulty understanding how their daily efforts contribute to the strategic plan at the top level. 

For example, the people responsible for managing contributing objectives at the bottom of the plan ( functional / operational level ) will lose visibility on how are their objectives linked to the main focus areas and objectives (at a corporate / business level ). 

This approach is best suited to smaller organizations that only need to add a few layers of objectives to their plan.

Option B: Create contributing objectives from multiple plans linking to the main objective

This approach creates a network of aligned strategic plans within your organization. Each plan contains a set of focus areas and one single layer of objectives, each with its own set of projects, actions, and KPIs. This concept looks like this:

Diagram showing contributing objectives from multiple plans linking to the main objective in Cascade

This example illustrates an objective that is a main objective in the IT strategic plan , but also contributes to the main strategic plan's objective.

For example, let’s say that your main business objective is to improve customer satisfaction by reducing product delivery time by 25% in the next quarter. This objective requires multiple operational teams within your organization to work together to achieve a shared objective. 

Each team will create its own objective in its plan to contribute to the main objective: 

  • Logistics team: Reduce the shipment preparation time by 30%
  • IT team: Implement new technology to reduce manual handling in the warehouse
  • Production team: Increase production output by hour for 5%   

Here’s how this example would look like within Cascade platform:

example of contributing objectives in cascade

Although each contributing objective was originally created in its own plan, you can see how each contributing objective relates to the main strategic objective and its status in real-time.

2. Shared objectives

In Cascade, shared objectives are the same objectives shared across different strategic plans.

For example, you can have an objective that is “Achieve sustainable operations”. This objective can be part of the Corporate Strategy Plan, but also part of the Operations Plan , Supply Chain Plan , Production Plan, etc. In short, this objective becomes a shared objective between multiple teams and strategic plan. 

This approach helps you to:

  • Cascade your business strategy as deep as you want across a near-infinite number of people while maintaining strategic alignment throughout your organization .
  • Create transparency and a much higher level of engagement in the strategy throughout your organization since objective owners are able to identify how their shared efforts contribute to the success of the main business objectives.

The more shared objectives you have across your organization, the more your teams will be aligned with the overarching business strategy. This is what we call " alignment health ”. 

Here’s how you can see the shared objectives in the alignment map and analyze alignment health within Cascade:

Alignment Map and Objective Sidebar in cascade for shared objectives

You get a snapshot of how is your corporate strategic plan aligned with sub-plans from different business units or departments and the status of shared objectives. This helps you quickly identify misaligned initiatives and act before it’s too late.  Plus, cross-functional teams have better visibility of how their efforts contribute to shared objectives. 

So whether you choose contributing objectives or shared objectives, Cascade has the tools and features to help you achieve organization-wide alignment and boost your bottom line.

Quick Overview Of Key Steps In Writing A Strategic Plan

Here’s a quick infographic to help you remember how everything connects and why each element is critical to creating an effective strategic plan:

The Cascade Model Overview cheatsheet

This simple answer to how to write a strategic plan avoids confusing jargon and has elements that the whole organization can both get behind and understand. 

💡Tip: Save this image or bookmark this article for your next strategic planning session.

If you're struggling to write an execution-ready strategic plan, the Cascade model is the solution you've been looking for. With its clear, easy-to-understand terminology, and simple linkages between objectives, projects, and KPIs, you can create a plan that's both scalable and flexible.

But why is a flexible and execution-ready strategic plan so important? It's simple: without a clear and actionable plan, you'll never be able to achieve your business objectives. By using the Cascade Strategic Planning Model, you'll be able to create a plan that's both tangible and measurable, with KPIs that help you track progress towards your goals.

However, the real value of the Cascade framework lies in its flexibility . By creating links between main business objectives and your teams’ objectives, you can easily scale your plan without losing focus. Plus, the model's structure of linked layers means that you can always adjust your strategy in response to new challenges or opportunities and keep everyone on the same page. 

So if you want to achieve results with your strategic plan, start using Cascade today. With its unique combination of flexibility and focus, it's the perfect tool for any organization looking to master strategy execution and succeed in today's fast-paced business world. 

Want to see Cascade in action? Get started for free or book a 1:1 demo with Cascade’s in-house strategy expert.

This article is part one of our mini-series "How to Write a Strategic Plan". This first article will give you a solid strategy model for your plan and get the strategic thinking going.

Think of it as the foundation for your new strategy. Subsequent parts of the series will show you how to create the content for your strategic plan.

Articles in our How to Write a Strategic Plan series

  • How To Write A Strategic Plan: The Cascade Model (This article)
  • How to Write a Good Vision Statement
  • How To Create Company Values
  • Creating Strategic Focus Areas
  • How To Write Strategic Objective
  • How To Create Effective Projects
  • How To Write KPIs + Ultimate Guide To Strategic Planning

More resources on strategic planning and strategy execution: 

  • 6 Steps to Successful Strategy Execution
  • 4-Step Strategy Reporting Process (With Template)
  • Annual Planning: Plan Like a Pro In 5 Steps (+ Template) 
  • 18 Free Strategic Plan Templates (Excel & Cascade) 2023
  • The Right Way To Set Team Goals
  • 23 Best Strategy Tools For Your Organization in 2023

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Why Is Strategic Planning Important?

Above view of team creating a strategic plan

  • 06 Oct 2020

Do you know what your organization’s strategy is? How much time do you dedicate to developing that strategy each month?

If your answers are on the low side, you’re not alone. According to research from Bridges Business Consultancy , 48 percent of leaders spend less than one day per month discussing strategy.

It’s no wonder, then, that 48 percent of all organizations fail to meet at least half of their strategic targets. Before an organization can reap the rewards of its business strategy, planning must take place to ensure its strategy remains agile and executable .

Here’s a look at what strategic planning is and how it can benefit your organization.

Access your free e-book today.

What Is Strategic Planning?

Strategic planning is the ongoing organizational process of using available knowledge to document a business's intended direction. This process is used to prioritize efforts, effectively allocate resources, align shareholders and employees on the organization’s goals, and ensure those goals are backed by data and sound reasoning.

It’s important to highlight that strategic planning is an ongoing process—not a one-time meeting. In the online course Disruptive Strategy , Harvard Business School Professor Clayton Christensen notes that in a study of HBS graduates who started businesses, 93 percent of those with successful strategies evolved and pivoted away from their original strategic plans.

“Most people think of strategy as an event, but that’s not the way the world works,” Christensen says. “When we run into unanticipated opportunities and threats, we have to respond. Sometimes we respond successfully; sometimes we don’t. But most strategies develop through this process. More often than not, the strategy that leads to success emerges through a process that’s at work 24/7 in almost every industry.”

Strategic planning requires time, effort, and continual reassessment. Given the proper attention, it can set your business on the right track. Here are three benefits of strategic planning.

Related: 4 Ways to Develop Your Strategic Thinking Skills

Benefits of Strategic Planning

1. create one, forward-focused vision.

Strategy touches every employee and serves as an actionable way to reach your company’s goals.

One significant benefit of strategic planning is that it creates a single, forward-focused vision that can align your company and its shareholders. By making everyone aware of your company’s goals, how and why those goals were chosen, and what they can do to help reach them, you can create an increased sense of responsibility throughout your organization.

This can also have trickle-down effects. For instance, if a manager isn’t clear on your organization’s strategy or the reasoning used to craft it, they could make decisions on a team level that counteract its efforts. With one vision to unite around, everyone at your organization can act with a broader strategy in mind.

2. Draw Attention to Biases and Flaws in Reasoning

The decisions you make come with inherent bias. Taking part in the strategic planning process forces you to examine and explain why you’re making each decision and back it up with data, projections, or case studies, thus combatting your cognitive biases.

A few examples of cognitive biases are:

  • The recency effect: The tendency to select the option presented most recently because it’s fresh in your mind
  • Occam’s razor bias: The tendency to assume the most obvious decision to be the best decision
  • Inertia bias: The tendency to select options that allow you to think, feel, and act in familiar ways

One cognitive bias that may be more difficult to catch in the act is confirmation bias . When seeking to validate a particular viewpoint, it's the tendency to only pay attention to information that supports that viewpoint.

If you’re crafting a strategic plan for your organization and know which strategy you prefer, enlist others with differing views and opinions to help look for information that either proves or disproves the idea.

Combating biases in strategic decision-making requires effort and dedication from your entire team, and it can make your organization’s strategy that much stronger.

Related: 3 Group Decision-Making Techniques for Success

3. Track Progress Based on Strategic Goals

Having a strategic plan in place can enable you to track progress toward goals. When each department and team understands your company’s larger strategy, their progress can directly impact its success, creating a top-down approach to tracking key performance indicators (KPIs) .

By planning your company’s strategy and defining its goals, KPIs can be determined at the organizational level. These goals can then be extended to business units, departments, teams, and individuals. This ensures that every level of your organization is aligned and can positively impact your business’s KPIs and performance.

It’s important to remember that even though your strategy might be far-reaching and structured, it must remain agile. As Christensen asserts in Disruptive Strategy , a business’s strategy needs to evolve with the challenges and opportunities it encounters. Be prepared to pivot your KPIs as goals shift and communicate the reasons for change to your organization.

Which HBS Online Strategy Course is Right for You? | Download Your Free Flowchart

Improve Your Strategic Planning Skills

Strategic planning can benefit your organization’s vision, execution, and progress toward goals. If strategic planning is a skill you’d like to improve, online courses can provide the knowledge and techniques needed to lead your team and organization.

Strategy courses can range from primers on key concepts (such as Economics for Managers ), to deep-dives on strategy frameworks (such as Disruptive Strategy ), to coursework designed to help you strategize for a specific organizational goal (such as Sustainable Business Strategy ).

Learning how to craft an effective, compelling strategic plan can enable you to not only invest in your career but provide lasting value to your organization.

Do you want to formulate winning strategies for your organization? Explore our portfolio of online strategy courses and download the free flowchart to determine which is the best fit for you and your goals.

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About the Author

The 5 steps of the strategic planning process

An illustration of a digital whiteboard with a bullseye diagram and sticky notes

Starting a project without a strategy is like trying to bake a cake without a recipe — you might have all the ingredients you need, but without a plan for how to combine them, or a vision for what the finished product will look like, you’re likely to end up with a mess. This is especially true when working with a team — it’s crucial to have a shared plan that can serve as a map on the pathway to success.

Creating a strategic plan not only provides a useful document for the future, but also helps you define what you have right now, and think through and outline all of the steps and considerations you’ll need to succeed.

What is strategic planning?

While there is no single approach to creating a strategic plan, most approaches can be boiled down to five overarching steps:

  • Define your vision
  • Assess where you are
  • Determine your priorities and objectives
  • Define responsibilities
  • Measure and evaluate results

Each step requires close collaboration as you build a shared vision, strategy for implementation, and system for understanding performance.

Related: Learn how to hold an effective strategic planning meeting

Why do I need a strategic plan?

Building a strategic plan is the best way to ensure that your whole team is on the same page, from the initial vision and the metrics for success to evaluating outcomes and adjusting (if necessary) for the future. Even if you’re an expert baker, working with a team to bake a cake means having a collaborative approach and clearly defined steps so that the result reflects the strategic goals you laid out at the beginning.

The benefits of strategic planning also permeate into the general efficiency and productivity of your organization as a whole. They include: 

  • Greater attention to potential biases or flaws, improving decision-making 
  • Clear direction and focus, motivating and engaging employees
  • Better resource management, improving project outcomes 
  • Improved employee performance, increasing profitability
  • Enhanced communication and collaboration, fostering team efficiency 

Next, let’s dive into how to build and structure your strategic plan, complete with templates and assets to help you along the way.

Before you begin: Pick a brainstorming method

There are many brainstorming methods you can use to come up with, outline, and rank your priorities. When it comes to strategy planning, it’s important to get everyone’s thoughts and ideas out before committing to any one strategy. With the right facilitation , brainstorming helps make this process fair and transparent for everyone involved.  

First, decide if you want to run a real-time rapid ideation session or a structured brainstorming . In a rapid ideation session, you encourage sharing half-baked or silly ideas, typically within a set time frame. The key is to just get out all your ideas quickly and then edit the best ones. Examples of rapid ideation methods include round robin , brainwriting , mind mapping , and crazy eights . 

In a structured brainstorming session, you allow for more time to prepare and edit your thoughts before getting together to share and discuss those more polished ideas. This might involve brainstorming methods that entail unconventional ways of thinking, such as reverse brainstorming or rolestorming . 

Using a platform like Mural, you can easily capture and organize your team’s ideas through sticky notes, diagrams, text, or even images and videos. These features allow you to build actionable next steps immediately (and in the same place) through color coding and tagging. 

Whichever method you choose, the ideal outcome is that you avoid groupthink by giving everyone a voice and a say. Once you’ve reached a consensus on your top priorities, add specific objectives tied to each of those priorities.

Related: Brainstorming and ideation template

1. Define your vision

Whether it’s for your business as a whole, or a specific initiative, successful strategic planning involves alignment with a vision for success. You can think of it as a project-specific mission statement or a north star to guide employees toward fulfilling organizational goals. 

To create a vision statement that explicitly states the ideal results of your project or company transformation, follow these four key steps: 

  • Engage and involve the entire team . Inclusivity like this helps bring diverse perspectives to the table. 
  • Align the vision with your core values and purpose . This will make it familiar and easy to follow through. 
  • Stay grounded . The vision should be ambitious enough to motivate and inspire yet grounded enough to be achievable and relevant.
  • Think long-term flexibility . Consider future trends and how your vision can be flexible in the face of challenges or opportunities. 

For example, say your vision is to revolutionize customer success by streamlining and optimizing your process for handling support tickets. It’s important to have a strategy map that allows stakeholders (like the support team, marketing team, and engineering team) to know the overall objective and understand the roles they will play in realizing the goals. 

This can be done in real time or asynchronously , whether in person, hybrid, or remote. By leveraging a shared digital space , everyone has a voice in the process and room to add their thoughts, comments, and feedback. 

Related: Vision board template

2. Assess where you are

The next step in creating a strategic plan is to conduct an assessment of where you stand in terms of your own initiatives, as well as the greater marketplace. Start by conducting a resource assessment. Figure out which financial, human, and/or technological resources you have available and if there are any limitations. You can do this using a SWOT analysis.

What is SWOT analysis?

SWOT analysis is an exercise where you define:

  • Strengths: What are your unique strengths for this initiative or this product? In what ways are you a leader?
  • Weaknesses: What weaknesses can you identify in your offering? How does your product compare to others in the marketplace?
  • Opportunities: Are there areas for improvement that'd help differentiate your business?
  • Threats: Beyond weaknesses, are there existing potential threats to your idea that could limit or prevent its success? How can those be anticipated?

For example, say you have an eco-friendly tech company and your vision is to launch a new service in the next year. Here’s what the SWOT analysis might look like: 

  • Strengths : Strong brand reputation, loyal customer base, and a talented team focused on innovation
  • Weaknesses : Limited bandwidth to work on new projects, which might impact the scope of its strategy formulation 
  • Opportunities : How to leverage and experiment with existing customers when goal-setting
  • Threats : Factors in the external environment out of its control, like the state of the economy and supply chain shortages

This SWOT analysis will guide the company in setting strategic objectives and formulating a robust plan to navigate the challenges it might face. 

Related: SWOT analysis template

3. Determine your priorities and objectives

Once you've identified your organization’s mission and current standing, start a preliminary plan document that outlines your priorities and their corresponding objectives. Priorities and objectives should be set based on what is achievable with your available resources. The SMART framework is a great way to ensure you set effective goals . It looks like this:  

  • Specific: Set clear objectives, leaving no room for ambiguity about the desired outcomes.
  • Measurable : Choose quantifiable criteria to make it easier to track progress.
  • Achievable : Ensure it is realistic and attainable within the constraints of your resources and environment.
  • Relevant : Develop objectives that are relevant to the direction your organization seeks to move.
  • Time-bound : Set a clear timeline for achieving each objective to maintain a sense of urgency and focus.

For instance, going back to the eco-friendly tech company, the SMART goals might be: 

  • Specific : Target residential customers and small businesses to increase the sales of its solar-powered device line by 25%. 
  • Measurable : Track monthly sales and monitor customer feedback and reviews. 
  • Achievable : Allocate more resources to the marketing, sales, and customer service departments. 
  • Relevant : Supports the company's growth goals in a growing market of eco-conscious consumers. 
  • Time-bound : Conduct quarterly reviews and achieve this 25% increase in sales over the next 12 months.

With strategic objectives like this, you’ll be ready to put the work into action. 

Related: Project kickoff template

4. Define tactics and responsibilities

In this stage, individuals or units within your team can get granular about how to achieve your goals and who'll be accountable for each step. For example, the senior leadership team might be in charge of assigning specific tasks to their team members, while human resources works on recruiting new talent. 

It’s important to note that everyone’s responsibilities may shift over time as you launch and gather initial data about your project. For this reason, it’s key to define responsibilities with clear short-term metrics for success. This way, you can make sure that your plan is adaptable to changing circumstances. 

One of the more common ways to define tactics and metrics is to use the OKR (Objectives and Key Results) method. By outlining your OKRs, you’ll know exactly what key performance indicators (KPIs) to track and have a framework for analyzing the results once you begin to accumulate relevant data. 

For instance, if our eco-friendly tech company has a goal of increasing sales, one objective might be to expand market reach for its solar-powered products. The sales team lead would be in charge of developing an outreach strategy. The key result would be to successfully launch its products in two new regions by Q2. The KPI would be a 60% conversation rate in those targeted markets.  

Related: OKR planning template  

5. Manage, measure, and evaluate

Once your plan is set into motion, it’s important to actively manage (and measure) progress. Before launching your plan, settle on a management process that allows you to measure success or failure. In this way, everyone is aligned on progress and can come together to evaluate your strategy execution at regular intervals.

Determine the milestones at which you’ll come together and go over results — this can take place weekly, monthly, or quarterly, depending on the nature of the project.

One of the best ways to evaluate progress is through agile retrospectives (or retros) , which can be done in real time or asynchronously. During this process, gather and organize feedback about the key elements that played a role in your strategy. 

Related: Retrospective radar template

Retrospectives are typically divided into three parts:

  • What went well.
  • What didn’t go well.
  • New opportunities for improvement.

This structure is also sometimes called the “ rose, thorn, bud ” framework. By using this approach, team members can collectively brainstorm and categorize their feedback, making the next steps clear and actionable. Creating an action plan during a post-mortem meeting is a crucial step in ensuring that lessons learned from past projects or events are effectively translated into tangible improvements. 

Another method for reviewing progress is the quarterly business review (QBR). Like the agile retrospective, it allows you to collect feedback and adjust accordingly. In the case of QBRs, however, we recommend dividing your feedback into four categories:

  • Start (what new items should be launched?).
  • Stop (what items need to be paused?).
  • Continue (what is going well?).
  • Change (what could be modified to perform better?).

Strategic planners know that planning activities continue even after a project is complete. There’s always room for improvement and an action plan waiting to be implemented. Using the above approaches, your team can make room for new ideas within the existing strategic framework in order to track better to your long-term goals.

Related: Quarterly business review template

Conclusions

The beauty of the strategic plan is that it can be applied from the campaign level all the way up to organizational vision. Using the strategic planning framework, you build buy-in , trust, and transparency by collaboratively creating a vision for success, and mapping out the steps together on the road to your goals.

Also, in so doing, you build in an ability to adapt effectively on the fly in response to data through measurement and evaluation, making your plan both flexible and resilient.

Related: 5 Tips for Holding Effective Post-mortems

Why Mural for strategic planning

Mural unlocks collaborative strategic planning through a shared digital space with an intuitive interface, a library of pre-fab templates, and methodologies based on design thinking principles.

Outline goals, identify key metrics, and track progress with a platform built for any enterprise.

Learn more about strategic planning with Mural.

About the authors

Bryan Kitch

Bryan Kitch

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Strategic Planning Should Be a Strategic Exercise

  • Graham Kenny

Don’t create a plan. Create a system.

Many managers complain that strategy-making often reduces to an operational action plan that resembles the last one.  To prevent that from happening they need to remember that strategy is about creating a system whereby a company’s stakeholders interact to create a sustainable advantage for the company.  Strategic planning is how the company designs that system, which is very different from an operational action plan in that it is never a static to-do list but constantly evolves as strategy makers acquire more insights into how their system of stakeholders can create value.

Over the years I’ve facilitated many strategic planning workshops for business, government, and not-for-profit organizations. We reflect on recent changes and future trends and consider how to engage with them for corporate success.

creating a strategic planning business

  • Graham Kenny is CEO of  Strategic Factors and author of the book Strategy Discovery.   He is a recognized expert in strategy and performance measurement who helps managers, executives, and boards create successful organizations in the private, public, and not-for-profit sectors. He has been a professor of management in universities in the U.S., and Canada.  You can connect to or follow him on  LinkedIn .

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Strategic Planning Process: 7 Crucial Steps to Success

a transparent grid illustration connecting a circle and square representing the strategic planning process

What to read next:

Playing chess without a strong opening is a guaranteed way to disadvantage yourself. Just like in chess, organizations without an adequate strategic planning process are unlikely to thrive and adapt long-term. 

The strategic planning process is essential for aligning your organization on key priorities, goals, and initiatives, making it crucial for organizational success.   

This article will empower you to craft and perfect your strategic planning process by exploring the following:  

  • What is strategic planning
  • Why strategic planning is important for your business  
  • The seven steps of the strategic planning process   

Strategic planning frameworks

  • Best practices supporting the strategic planning process  

By the end of this article, you’ll have the knowledge needed to perfect the key elements of strategic planning. Ready? Let’s begin.  

What is strategic planning?

Strategic planning charts your business's course toward success. Using your organization’s vision, mission, and values — with internal and external information — each step of the strategic planning process helps you craft long-term objectives and attain your goals with strategic management.  

The key elements of strategic planning includes a SWOT analysis, goal setting , stakeholder involvement, plus developing actionable strategies, approaches, and tactics aligned with primary objectives.  

In short, the strategic planning process bridges the gap between your organization’s current and desired state, providing a clear and actionable framework that answers:   Where are you now?   Where do you want to be?   How will you get there?

7 key elements of strategic planning 

The following strategic planning components work together to create cohesive strategic plans for your business goals. Let’s take a close look at each of these:  

  • Vision : What your organization wants to achieve in the future, the long-term goal  
  • Mission : The driving force behind why your company exists, who it serves, and how it creates value  
  • Values : Fundamental beliefs guiding your company’s decision-making process  
  • Goals : Measurable objectives in alignment with your business mission, vision, and values  
  • Strategy : A long-term strategy map for achieving your objectives based on both internal and external factors  
  • Approach : How you execute strategy and achieve objectives using actions and initiatives   
  • Tactics : Granular short-term actions, programs, and activities  

Why a concrete strategic planning is important

Just as a chess player needs a gameplan to reach checkmate, a company needs a solid strategic plan to achieve its goals.   

Without a strategic plan, your business will waste precious time, energy, and resources on endeavors that won’t get your company closer to where it needs to be.   

Your ideal plan should cover all key strategic planning areas, while allowing you to stay present by measuring success and course-correcting or redefining the strategic direction when necessary. Ultimately, enabling your company to stay future-proof through the creation of an always-on strategy.   

An always-on strategy involves continuous environmental scanning even after the strategic plan has been devised, ensuring readiness to adapt in response to quick, drastic changes in the environment.

Let’s dive deeper into the steps of the strategic planning process.  

What are the 7 stages of the strategic planning process?

You understand the overall value of implementing a strategic planning process — now let’s put it in practice. Here's our 7-step approach to strategic planning that ensures everyone is on the same page:  

  • Clarify your vision, mission, and values  
  • Conduct an environmental scan  
  • Define strategic priorities  
  • Develop goals and metrics  
  • Derive a strategic plan  
  • Write and communicate your strategic plan  
  • Implement, monitor, and revise   

1. Clarify your vision, mission, and values 

The first step of the strategic planning process is understanding your organization’s core elements: vision, mission, and values. Clarifying these will align your strategic plan with your company’s definition of success. Once established, these are the foundation for the rest of the strategic planning process.   

Questions to ask:

  • What do we aspire to achieve in the long term?
  • What is our purpose or ultimate goal?
  • What do we do to fulfill our vision?
  • What key activities or services do we provide?
  • What are our organization's ethics?
  • What qualities or behaviors do we expect from employees?

Read more: What is Mission vs. Vision  

A green flag with hollow filling placed to the left of an outline of an eye, with the iris also outlined in green, all on a green background, to signal mission vs. vision

2. Conduct an environmental scan

Once everyone on the same page about vision, mission, and values, it's time to scan your internal and external environment. This involves a long-term SWOT analysis, evaluating your organization’s strengths, weaknesses, opportunities, and threats.  

Internal factors 

Internal strengths and weaknesses help you understand where your organization excels and what it could improve. Strengths and weaknesses awareness helps make more informed decisions with your capabilities and resource allocation in mind.  

External factors

Externally, opportunities and threats in the market help you understand the power of your industry’s customers, suppliers, and competitors. Additionally, consider how broader forces like technology, culture, politics, and regulation may impact your organization.   

  • What are our organization's key strengths or competitive advantages?
  • What areas or functions within our organization need improvement?
  • What emerging trends or opportunities can we leverage?
  • How do changes in technology, regulations, or consumer behavior impact us?

3. Define strategic priorities

Prioritization puts the “strategic” in strategic planning process. Your organization’s mission, vision, values, and environmental scan serve as a lens to identify top priorities. Limiting priorities ensures your organization intentionally allocates resources.  

These categories can help you rank your strategic priorities:  

  • Critical : Urgent tasks whose failure to complete will have severe consequences — financial losses, reputation damage, or legal consequences  
  • Important : Significant tasks which support organizational achievements and require timely completion  
  • Desirable : Valuable tasks not essential in the short-term, but can contribute to long-term success and growth  
  • How do these priorities align with our mission, vision, and values?
  • Which tasks need to be completed quickly to ensure effective progress towards our desired outcomes?
  • What resources and capabilities do we need to pursue these priorities effectively?

4. Develop goals and metrics

Next, you establish goals and metrics to reflect your strategic priorities. Purpose-driven, long-term, actionable strategic planning goals should flow down through the organization, with lower-level goals contributing to higher-level ones.  

One approach that can help you set and measure your aligned goals is objectives and key results (OKRs). OKRs consist of objectives, qualitative statements of what you want to achieve, and key results, 3-5 supporting metrics that track progress toward your objective.  

OKRs ensure alignment at every level of the organization, with tracking and accountability built into the framework to keep everyone engaged. With ambitious, intentional goals, OKRs can help you drive the strategic plan forward.  

  • What metrics can we use to track progress toward each objective?
  • How can we ensure that lower-level goals and metrics support and contribute to higher-level ones?
  • How will we track and measure progress towards key results?
  • How will we ensure accountability?

Get an in-depth look at OKRs with our Ultimate OKR Playbook

an illustration of a circle in a shifting square to represent an okr playbook

5. Derive a strategic plan

The next step of the strategic planning process gets down to the nitty-gritty “how” — outlining a clear, practical plan for bridging the gap between now and the future.   

To do this, you’ll need to brainstorm short- and long-term approaches to achieving the goals you’ve set, answering a couple of key questions along the way. You must evaluate ideas based on factors like:  

  • Feasibility : How realistic and achievable is it?  
  • Impact : How conducive is it to goal attainment?  
  • Cost : Can we fund this approach, and is it worth the investment?  
  • Alignment : Does it support our mission, vision, and values?  

From your approaches, you can devise a detailed action plan, which covers things like:  

  • Timelines : When will we take each step, and what are the deadlines?  
  • Milestones : What key achievements will ensure consistent progress?  
  • Resource requirements : What’s needed to achieve each step?  
  • Responsibilities : Who's accountable in each step?  
  • Risks and challenges : What can affect our ability to execute our plan? How will we address these?  

With a detailed action plan like this, you can move from abstract goals to concrete steps, bringing you closer to achieving your strategic objectives.  

6. Write and communicate your strategic plan

Writing and communicating your strategic plan involves everyone, ensuring each team is on the same page. Here’s a clear, concise structure you can use to cover the most important strategic planning components:  

  • Executive summary : Highlights and priorities in your strategic overview   
  • Introduction : Background on your strategic plan  
  • Connection : How your strategic plan aligns with your organization’s mission, vision, and values  
  • Environmental scan : An overview of your SWOT analysis findings  
  • Strategic priorities and goals : Informed short and long-term organizational goals  
  • Strategic approach : An overview of your tactical plan   
  • Resource needs : How you'll deploy technology, funding, and employees  
  • Risk and challenges : How you’ll mitigate the unknowns if and when they arise  
  • Implementation plan : A step-by-step resource deployment plan for achieving your strategy  
  • Monitoring and evaluation : How you’ll keep your plan heading in the right direction  
  • Conclusion : A summary of the strategic plan and everything it entails  
  • What information or context do stakeholders need to understand the strategic plan?
  • How can we emphasize the connection between the strategic plan and the overall purpose and direction of the organization?
  • What initiatives or strategies will we implement to drive progress?
  • How will we mitigate or address risks?
  • What are the specific steps and actions we need to take to implement the strategic plan?
  • Any additional information or next steps we need to communicate?

7. Implement, monitor, and revise performance 

Finally, it’s time to implement your strategic plan, making sure it's up to date, creating a persistent, always-on strategy that doesn't lag behind. As you get the ball rolling, keep a close eye on your timelines, milestones, and performance targets, and whether these align with your internal and external environment.   

Internally, indicators like completions, issues, and delays provide visibility into your process. If any bottlenecks, inefficiencies, or misalignment arises, take corrective action promptly — adjust the plan, reallocate resources, or provide additional training to employees.  

Externally, you should monitor changes such as customer preferences, competitive pressures, economic shifts , and regulatory changes. These impact the success of your strategic action plan and may require tweaks along the way.   

Remember, implementing a strategic plan isn’t a one-time task — continual evaluation is essential for an always-on strategy. It involves extending beyond planning stages and contextualizing the strategy in real-time, allowing for swift adaptations to changing circumstances to ensure your plan remains relevant.

  • Are there any bottlenecks, inefficiencies, or misalignments we need to address?
  • Are we monitoring and analyzing external factors?
  • Are we prepared to make necessary tweaks or adaptations along the way?
  • Are we agile enough to promptly correct deviations from our strategic plan while maintaining an "always-on" strategy for continual adjustments?

You can use several frameworks to guide you through the strategic planning process. Some of the most influential ones include:

  • Balanced scorecard (BSC) : Takes an overarching approach to strategic planning, covering financial, customer, internal processes, and learning and growth, aligning short-term operational tasks with long-term strategic goals.
  • SWOT analysis : Highlights your business's internal strengths and weaknesses alongside external opportunities and threats to enable informed decisions about your strategic direction.
  • OKRs : Structures goals as a set of measurable objectives and key results. They cascade down from top-level organizational objectives to lower-level team goals, ensuring alignment across the entire organization. Get an in-depth look at OKRs here . 
  • Scenario planning : Involves envisioning and planning for various possible future scenarios, allowing you to prepare for a range of potential outcomes. It's particularly useful in volatile environments rife with uncertainties.
  • Porter's five forces : Evaluates the competitive forces within your industry — rivalry among existing competitors, bargaining power of buyers and suppliers, threat of new entrants, and threat of substitutes — to shape strategies that position the organization for success.

Common problems with strategic planning and how to overcome them

While strategic planning provides a roadmap for business success, it's not immune to challenges. Recognizing and addressing these is crucial for effective strategy implementation. Let's explore common issues encountered in strategic planning and strategies to overcome them.

Static nature

Traditional strategic planning models often follow a linear, annual, and inflexible process that doesn't accommodate quick changes in the business landscape. Strategies formulated this way may quickly become outdated in today's fast-paced environment.

To overcome the rigidity of traditional strategic planning, your organization should integrate continuous environmental scanning processes. This includes monitoring market changes, competitor actions, and technological advancements, ensuring real-time insights inform strategic decision-making. Additionally, adopting agile methodologies allows for iterative planning, breaking down strategies into smaller, manageable components reviewed and adjusted regularly, ensuring adaptability in today's fast-paced landscape.

Disconnect between strategic plan and execution

There's often a significant gap between the strategic objectives and their actual implementation, leading to misalignment, confusion, and inefficiency within the organization.

To bridge the gap, ensure accountability, alignment, and feedback-driven processes across the business. Linking team roles and responsibilities to lower-level objectives can fosters alignment and accountability, whereas aligning these with overarching strategic objectives ensure coherence in execution. To ensure goals are optimized on an ongoing basis, implement a feedback mechanism that continuously evaluates progress against goals, enabling regular adjustments based on market feedback and internal insights.

Lack of real-time insights

Traditional planning models rely on historical data and periodic reviews, which might not capture real-time changes or emerging trends accurately. This can result in misaligned strategies unsuitable for the current business landscape.

Leverage advanced analytics tools and AI-driven technologies. Invest in technologies that offer real-time tracking and reporting of key performance indicators, with dashboards and monitoring systems that provide up-to-date insights. These allow you to gather, process, and interpret real-time data for proactive decision-making that aligns with the current business landscape. 

Failure to close the feedback loop

The absence of a feedback loop between strategy formulation, execution, and evaluation can impact learning and improvement. Companies might therefore struggle to refine their strategies based on real-time performance insights.

Establish a structured feedback loop encompassing strategy formulation, execution, and evaluation stages. Encourage employees to actively contribute insights on strategy execution, fostering a culture of continuous improvement and adaptation.

Best practices during the strategic planning process

Navigating strategic planning goes beyond overcoming challenges. A successful strategic plan requires you to embrace a set of guiding best practices, helping you navigate the development and implementation of your strategic planning process.   

1. Keep the planning process flexible

With ever-changing business environments, a one-and-done approach to strategic planning is insufficient. Your strategic plan needs to be adaptable to ensure its relevancy and its ability to weather the effects of changing circumstances.  

2. Pull together a diverse group of stakeholders

By including voices from across the organization, you can account for varying thoughts, perspectives, and experiences at each step of the strategic planning process, ensuring cross-functional alignment .  

3. Document the process

Continuous documentation of the strategic management process is crucial in capturing and communicating the key elements of strategic planning. This keeps everyone on the same page and your strategic plan up-to-date and relevant.  

4. Make data-driven decisions

Root your decisions in evidence and facts rather than assumptions or opinions. This cultivates accurate insights, improves prioritization, and reduces biased (flawed) decisions.  

5. Align your company culture with the strategic plan 

Your strategic plan can only be successful if everyone is on board with it — company culture supports what you’re trying to achieve. Behaviors, rules, and attitudes optimize the execution of your strategic plan.  

6. Leverage AI 

Using AI in strategic planning supports the development of an always-on strategy — amplifying strategic agility, conducting comprehensive environmental scans, and expediting planning phases. It can streamline operations, facilitate data-driven decision-making, and provide transparent insights into progress to drive accountability, engagement, and alignment with the strategic plan.

The strategic planning process in a nutshell

Careful strategy mapping is crucial for any organization looking to achieve its long-term goals while staying true to its mission, vision, and values. The seven steps in the strategic planning process outlined in this article provide a solid framework your organization can follow — from clarifying your organization’s purpose and developing a strategic plan, to implementing, monitoring, and revising performance. These steps will help your company meet goal measurements and create an always-on strategy that's rooted in the present. 

It’s important to remember that strategic planning is not a one-time event. To stay effective and relevant, you must continuously monitor and adapt your strategy in response to changing circumstances. This ongoing process of improvement keeps your organization competitive and demonstrates your commitment to achieving your goals.  

  Quantive is your bridge between strategy and execution. Founded on the objectives and key results (OKR) methodology, our Strategy Execution solution is where businesses plan successful strategy, focus and align teams to it, and stay on the leading edge of progress.  

As your company looks to achieve the best possible results, you need a modern approach to run your business and change your business. The Modern Operating Model brings strategy, teams, and data together to help make decisions faster, optimize operations, and drive better business outcomes.  

Whether you’re a large enterprise facing competitive disruption or a small business leading the innovative charge, Quantive helps get you where you want to go.  

Ready to achieve the best possible? Start your free trial today. 

Additional resources

Strategy execution in 4 steps: keys to successful strategy, how top companies are closing the strategy execution gap, 7 best practices for strategy execution, why your business needs strategy execution software, subscribe for our newsletter.

Build Your 2024 AI Transformation Roadmap 🚀

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More Like this

4-step ai framework for business transformation.

Embracing AI within your business strategically can transform your organization, helping you multiply your mission and achieve what was impossible without adding additional human labor.

Yet, in today’s AI-saturated landscape, figuring out what AI projects are strategic and worth investment versus “the buzz” is harder than ever.

Deploying AI solutions at random won’t work – in fact, it’s dilutive. A thoughtful, strategic approach to integrating AI into your organization is essential; otherwise, you’re throwing valuable time and investment away.

That’s why we created an AI framework to guide you through strategically aligning AI to your efforts, considering which AI opportunities are most strategic, and building a plan to make it happen.

creating a strategic planning business

This AI framework empowers organizations to navigate their AI adoption process methodically, ensuring every step is aligned with their mission and vision for strategic transformation.

Why do beginners need to use an AI framework?

Adopting an AI framework is a crucial best practice, whether your goal is implementing simple, cost-efficient AI tools for team productivity or creating innovative AI solutions to transform your organization. An AI framework guarantees that you integrate your AI systems seamlessly with your core business objectives.

Two important notes before you get started:

  • This is designed for executive teams: This framework is designed to be used with your executive team. It can be used with individuals as well, but this framework is really designed to be used to align your entire organization from an executive level.
  • Bring an AI expert or developer to the conversation. Additionally, it’s really easy to get lost in the language of AI – data science, large language models, frameworks, and development terms can get overwhelming. If you can, having a developer or AI expert with your executive team is helpful as you build your AI framework. It gives your executive team the versatility to talk about strategic transformation without getting lost in technical terms or dreaming up ideas that aren’t yet possible.

Need help using this AI framework and building your AI roadmap? We’re here to help!

AI has changed everything – and there is no strategy without a clear approach for how AI will transform your organization. Not sure where to start? We can build your AI transformation strategy and governance in 30 days.

Book Your AI Roadmap Call

creating a strategic planning business

AI Framework Phase 1: Align AI with Your Mission, Vision, and Purpose

Before building your AI strategy , it must align with core elements of your strategic plan such as your core purpose, organization-wide mission and your big, bold vision.

Why is this necessary for your AI activities?

Artificial intelligence has the potential to bring a complete transformation to your organization and serve as a mission multiplier when done within a widespread adoption framework.

However, it only benefits you if it works with your organization-wide strategy. You want to ensure this transformation is purposeful and supports achieving your organization’s vision.

Pro Tip: Begin with a clear vision for your AI transformation and its desired outcomes. Ensure your vision and goals are harmonious with your overall strategy and reinforce your future vision . This is a crucial first step in your AI framework.

This phase will be more accessible if you have already established your organization-wide vision and purpose. If you have not established these for your organization, follow our other guides to help your team create your mission statement and core purpose .

Aligning AI to Your Vision & Purpose

We recommend first outlining your core purpose and mission at the beginning of your workshop. Why? We all know that your vision and purpose are the building blocks to any great strategic plan, AI or not! Ensure that your entire team knows your mission. For example, OnStrategy’s mission is: “ We create a strategy that matters and drive the culture to execute it.”

From there, consider what ‘multiplying’ your mission means as an organization by asking these questions:

  • What is our mission and value proposition?
  • What are the top needs we meet for our customers? How do we create value?
  • What will multiplying our mission mean for us as an organization?
  • What is the most significant impact we can have as a team?
  • What is our ‘why’ for leveraging AI?
  • If we could free up 5 hours a week/person, what could we do to significantly impact our team, customers, and community?

Answering these questions will help form the foundation of your AI strategy while keeping your organization’s value proposition at the forefront of your workshop.

As we used this AI framework with our team, we identified multiplying OnStrategy’s mission in two key areas:

  • Deliver outcomes to our clients more efficiently.
  • Connect deeper with our clients to help with their most strategic challenges.

creating a strategic planning business

AI Framework Phase 2: Creating Your AI Governance & Ethics

Creating an AI governance blueprint is the next essential phase for completing an AI framework. The purpose of setting up an AI governance blueprint is to provide guiding principles regarding how your organization will use artificial intelligence in a responsible manner to mitigate risk.

Why does responsible AI usage matter? How do you create a secure AI framework?

It’s too easy to treat this new market as the wild, wild west where anything goes . Using AI responsibly to align your organization’s core values and guiding principles is the difference between total organizational alignment and irresponsible use with unmitigated risk.

While this may not be the most exciting part of the AI framework, having a formal process and documentation where your team outlines principles to help you regulate your behavior regarding artificial intelligence implementation is necessary.

Based on OnStrategy’s approach to AI governance, we recommend a 4-step process for creating an ethics blueprint.

Step 1: Define purpose and scope.

This includes outlining your purpose and objectives for creating an ethics policy. Defining your scope includes:

  • What AI systems are currently in place and the functions they serve?
  • Which regulations do your organization need to comply with and which relevant stakeholders need to be brought into the room so everyone can be involved in the conversation?
  • Finally, conduct a risk assessment (yes, even if you’re using something as seemingly harmless as ChatGPT). Understanding the risks and rewards of each tool you seek to implement is essential.

Step 2: Set AI guiding principles.

Now is the time to consider what guardrails you must use to guide your decision-making. How will your organization approach AI responsibly?

Some considerations you would need for your governance blueprint:

  • What is off-limits for AI usage in your organization?
  • How will you mitigate cybersecurity risks?
  • How will you create an AI risk management framework?
  • How will you train your team to use AI tools responsibly?
  • How will you overcome bias and prejudice within machine learning?
  • How will you ensure you’re protecting your client’s data?

Step 3: Establish AI governance structure to protect cybersecurity.

This could mean creating committees that will specifically oversee the implementation, communication, and ever-evolving regulations. This also means setting up a communication approach and a review process to integrate into your quarterly review cadence. However you choose to establish your structure, just make sure it gets implemented! This is about mitigating security risks and protecting your organization.

Step 4: AI roll out and training.

Now that you’ve set up the how of your governance, you must set up the who . Your strategy is nothing without the people on your team who will have to work with it and be impacted by it. Ensure you are setting them up for success by hosting seminars, workshops, and trainings.

Create a channel for your entire team or organization where they can share learnings and ask questions regarding tools.

Here are some considerations to have in the AI rollout stage:

  • Evaluation of AI Products & Third-Party Tools: Research, learn, and share the tools that comply with your AI principles.
  • Build Tools & Systems: Determine areas of internal tool development and the impact of AI. Then, begin integrating your tools and systems.
  • Employee Training: Train all employees on ethical AI principles and success criteria.
  • Innovation & Collaboration: Create a structured place for learning and sharing.

creating a strategic planning business

AI Framework Phase 3: Identifying Your AI Opportunities

After you’ve aligned your AI vision to your organization’s direction and created a governance and ethics policy, you can move into the meat of building your organization’s AI transformation strategy – identifying the sea of opportunities to vet, prioritize, and pursue.

This is the framework area where your team can dream big and think about the possibilities AI might unlock for your organization from a day-to-day operational perspective AND how your organization creates value for your customers.

AI Opportunities: Productivity vs. Total Transformation

As your team begins to think about the areas of opportunity for AI to influence your organization, it’s helpful to think about AI in two fundamental buckets – AI for productivity and full transformation.

It’s the wild wild west of AI, and transformation is happening at lightning speed at every level of every organization. So, it’s helpful to think about chasing opportunities in two different ways:

With that overview, we’ll jump into how you might identify opportunities in these two themes.

Pro Tip: We always like to start with Productivity instead of Product/Service transformation because it’s easier to start here AND will help your team begin prompting the thinking for considering how AI could transform your business model. Start with easier thinking and ease into the more strategic work.

Area 1: Productivity Opportunities

Starting with productivity opportunities is often the easiest place because your team can see how it might enhance day-to-day operations and work productivity. So, start here!

These opportunities could have a varied impact, saving your team anywhere from less than an hour per week to several hours a week.

Pro Tip: As you work to identify opportunities in this area of our AI framework, make a note of the estimated time savings, impact on your team, and ideas about what you might do with the time savings you gain.

These initiatives help us ‘improve the current’ and optimize current processes from the bottom up.

Questions to Ask:

  • What low-value, manual processes we complete today have the potential for AI automation?
  • How could AI accelerate our current strategic goals?
  • What “off the shelf” tools are available in our space, and how might they save our team time?
  • What processes or systems are currently in place that could be improved or made more efficient using AI?

Accelerating our current goals.

How might AI accelerate achieving our current strategic goals?

The first place to start is considering how AI might accelerate your strategic goals. Every organizational strategy and goal are different, so this will be very organization-dependent.

However, here are a few criteria we use to help identify which strategic goals have the opportunity for acceleration. These include:

  • Goals or activities that are highly manual, repeatable processes.
  • Repeatable patterns or processes with clear instructions.
  • The high volume of activity – e.g., processing lots of requests, support tickets, chats, etc.
  • You have a full-time position request to hire this role or add additional staff to your team.

If any of your current goals meet the criteria above, it can be vetted as an AI opportunity.

Task and business process automation.

What activities are essential to our organization but are time-consuming and could be automated?

This one is straightforward – work through common activities essential to your organization but manual and labor-intensive. Here are a few examples:

  • Customer Service: AI-powered chatbots can handle routine customer inquiries, such as order status, FAQs, and troubleshooting, freeing human agents to address more complex questions.
  • Data Entry: AI can automate data entry tasks by extracting relevant information from documents, emails, or forms and entering it into databases or other systems.
  • Content Generation: AI can generate content for websites, social media, marketing materials, and other channels based on predefined criteria and templates.
  • HR Processes: AI can automate various HR tasks such as resume screening, scheduling interviews, employee onboarding, and streamlining the hiring process.

Real-World Example: Voice of the Customer at Hyperspeed.

One of our strategic partners, Just Mad, created an AI agent to process their customer feedback from five different sources to create the synthesized voice of the customer insights to be used in marketing, product development, and sales for a B2B SaaS company. It could process 100,000 pieces of customer feedback into usable customer insights in seconds.

Individual and team productivity.

What “off-the-shelf” tools could be used to improve the productivity of your current team?

The goal here is simple – what currently available tools could make your team more productive? How much time would it save each person?

Buying off-the-shelf tools isn’t inherently strategic – but it is a piece of making your team more productive. This activity will be team and individual-specific, but here are a few examples of available tools for standard organizational functions:

  • Marketing: Generative AI tools such as ChatGPT and Jasper are used for content creation, Surfer and Scalenut are used for SEO optimizations, Photoshop AI is used for creatives, and Descript is used for video editing and transcription.
  • Sales: HubSpot AI is for sales follow-up, ChatGPT is for contract creation and synthesis, and Chorus.ai is for transcribing and synthesizing calls.
  • Operations: Clickup AI for project management, Grammarly for grammar and editing, and Co-pilot for creating and managing a database of files.
  • Executives: Superhuman for email follow-up, Beautiful.ai for deck production, Motion for calendar management and scheduling, and OnStrategy for AI transformation strategy.

Real-World Example: OnStrategy’s Marketing Team

OnStrategy’s adoption of tools like Scalenut and SEMRush for SEO optimization and analytics, along with ChatGPT for various tasks, exemplifies how “The Shelf” tools can elevate the quality of work and streamline operations, driving efficiency and innovation.

Area 2: AI Transformation Opportunities

After you’ve worked through the productivity opportunities, your team can focus on the big swings and how AI could transform your organization.

This is about thinking holistically about using artificial intelligence to transform how you create value for customers, deliver your products or services, and even run your entire organization.

Don’t worry! This doesn’t need to be totally overwhelming! Think of it as an opportunity to give your organization AI superpowers to achieve what was previously impossible with your current team or capabilities.

Pro Tip: This framework is designed to be used with executive teams, especially when considering how to transform the fundamentals of an organization.
  • For each customer group, how might AI help us protect, expand, and transform how we create value for our customers?
  • How can artificial intelligence give us new play fields in current or new markets? 
  • How can it transform your business model or delivery?

For each customer group, how might it help us protect how we create value for our customers?

From an organizational perspective, are there any capabilities artificial intelligence provides to protect your current customers (also known as retaining your existing customers)? Think about how it can help with customer retention and value retention.

Here are two common ideas to consider:

  • Cost Savings: How can it help you deliver value to your customers more efficiently so you can pass on the cost savings?
  • Further Differentiated Offerings: How can it help you further differentiate your offering to help protect your current customer base?

How might AI help us expand how we create value for our customers?

From an organizational perspective, are there any capabilities AI provides to expand how you create value for your customers?

AI’s capabilities vary widely, but here are two common scenarios to prompt your thinking:

  • Product Enhancements/Services for Current Customers: How can AI enhance your current products or services to provide additional value?
  • New Offerings for Current Customers: With AI, how can you provide new services to current customers? What is possible now that wasn’t before?

How can AI transform your business model or delivery?

This is where you can let your biggest thinking run wild. It has opened a world of possibilities. If you could dream big, how could it completely transform your business? Your model? How could you create a new field of play in a new customer group?

It’s big thinking, but here are two helpful prompts:

  • New Services for New Customers: How can you provide new services to current customers? What is possible now that wasn’t before?
  • Reinventing Your Entire Business Model or Delivery: How could you reinvent your business model to a totally new world enabled by artificial intelligence? What would that future look like?

You have a sea of opportunities so what’s next?

As you work through the two sections in step 3 of this framework, you’ve probably identified various opportunities to consider. Some are winners, and you can probably save some of them for later.

But how do you know which ones to chase?

There are many activities to help you rank priorities [like this one] but here are quick criteria tests you should use to help you choose which opportunities to pursue as strategic opportunities.

4 Criteria for true AI strategic opportunities.

  • It can actually be solved with AI. This means [generally] it can automate a highly manual task, patterns or instructions are clear, and you could build it or buy it.
  • Strategically, hugely important. This means that it’s essential for your organization to solve or create more time for your teams.
  • A totally different way to achieve something. It completely reinvents a solution or problem you couldn’t previously solve.
  • Has a high impact on your team’s time or capability.
Pro Tip: It’s best to have an AI expert in the room as you identify and prioritize these opportunities. An expert can tell you what is possible with today’s technology, size the projects or opportunities you identify, and help guide your strategic conversations.

Need to facilitate this with an AI expert? Contact us.

creating a strategic planning business

AI Framework Phase 4: Creating Your AI Roadmap

Now that you’ve determined what you want to accomplish and identified what areas of opportunity your initiatives fall into through phase 3, it’s time to determine how you’ll accomplish them, which is creating your AI roadmap.

Why is it necessary to create a roadmap?

A roadmap for your AI transformation gives you a prioritized list of opportunities to pursue and a means to make each opportunity a reality. It’s where you take your opportunities and give them a plan to become reality. Before you start developing ANY AI software development projects, prioritize your opportunities into this roadmap.

So, here’s how you can take your identified opportunities and turn them into a roadmap:

Step 1: Lay out your roadmap and organize your opportunities.

Begin by laying out a table with four rows and three columns labeled like the following:

creating a strategic planning business

The three columns are labeled “Now,” “Next,” and “Later.” The rows will be labeled “Everyday AI,” “Custom AI,” “Process/Policy Change (No AI),” and “Totally New Process or Transformation.”

Step 2: Move your opportunities into the correct row label.

(Don’t worry about doing “Now”, “Next”, or “Later” in this step.)

Organize your opportunities by one of these four categories of AI: everyday AI, custom AI, process/policy change, or a completely new process. Here’s how the label categorization works:

  • Everyday AI: These are tools you use in your day-to-day activities, such as ChatGPT, OtterAI, or Microsoft Copilot, that are “off-the-shelf” products you can buy today and require minimal setup.
  • Custom AI: ‘Custom AI’ are the tools your team builds for a specific purpose or tools requiring data links and compatibility between your different systems – i.e., a custom developed solution that uses data from your systems like Salesforce, Workday, or your ERP.
  • Process or Policy Change: You’ll likely surface time-savers or policy changes that don’t use AI at all! Put them here!
  • Total Transformation: Opportunities that fall under the ‘completely new process’ or outline a totally new way to do something go here.

Step 3: Answer these questions to prioritize your opportunities.

Then ask your team these five questions to guide yourselves and select the opportunities to work on first:

  • What is the low-hanging fruit or opportunity we can begin working on now?
  • What specific needs must we meet to accomplish this?
  • Who is going to be the champion for this opportunity? What is the AI skill level needed for this role?
  • Why is it imperative to chase this opportunity now?
  • What is the return on investment?

Once you’ve answered these questions, organize each opportunity into the correct columns (“Now”, “Next”, “Later”).

Step 4: Summarize, add a champion, and add tracking or analytics.

Summarize each of your ‘now’ opportunities and add up the investment needed for each opportunity . Your summaries should include the top 2-3 opportunities to work on now , who will be the champion/owner of the initiative, and what the rough investment required to accomplish this initiative will be.

Step 5: Communicate

This final step is the communication process. When presenting your opportunities to your team and board members, organize your initiatives by strategic goals (i.e., customer growth, operational excellence, people expertise, and financial results) and then map them using the prioritization process. Now, your AI strategy is ready for deployment.

Wrapping Up Your AI Framework

You can adopt ai even though you’re not google or microsoft.

In the world of AI chaos – everything from large language models, neural networks, deep learning, and AI risk management – you can tackle this to help your organization see the benefits of AI without getting totally overwhelmed with the semantics and pressure behind it.

This framework is not just about adopting AI; it’s about embedding it into the very fabric of your strategy with the reinforcement that every initiative is purposeful, impactful, and aligned with your broader vision of success. Embrace this framework as your roadmap to navigate the complexities of AI integration, unlocking new opportunities for efficiency, innovation, and growth and to leverage the full potential of AI.

PS – if you need a community of support with AI experts, strategists, and frameworks, get in touch with us.

We can help build your AI strategy with experts, or you can build your AI roadmap with the StrategyHub here .

AI Framework FAQ

OnStrategy’s AI Framework is designed to guide organizations through the strategic integration of AI into their operations, ensuring that AI initiatives align with business goals and drive significant efficiency, innovation, and growth.

AI enhances productivity by automating tasks, optimizing processes, and utilizing “The Shelf” tools like Scalenut and SEMRush for SEO and ChatGPT for various tasks, saving time and reducing errors.

AI drives growth by unlocking new avenues for value creation and delivery, such as by developing AI tools that provide instant customer insights or by enhancing customer engagement with AI-powered chatbots, ultimately leading to innovative business models and value propositions.

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The importance of strategic planning for farmers and ranchers.

Men look at phone in front of grain silos

“God will not suffer man to have a knowledge of things to come; for if man had a foresight of his prosperity, he would be careless; and if he had an understanding of his adversity he would be despairing.”  This quote by St. Augustine contains the essence of why managers plan. The future is uncertain, and planning is a process for developing a stratagem for taking an offensive position regarding the future.

Planning, or more specifically, strategic planning, is a process of defining long-term goals and objectives of an organization and determining the best course of action to achieve them. It involves such steps as defining the current situation, identifying strengths, weaknesses, opportunities, and threats, and developing a plan of action to take advantage of opportunities and overcome challenges. Parsons (2018) outlined six key components of a business plan and why a farm or ranch should make the effort to develop a business plan (Parsons, 2015).

In this Center for Agricultural Profitability article , CAP Director Larry Van Tassell discusses two steps that make planning strategic: defining the mission of the business, and assessing the external environment and its implications for the farm business.

Read the full article

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With a focus on industry applications and research, the online program is designed with maximum flexibility for today's working professionals.

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Ways AI Can Revolutionize Your Business Strategy

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As AI gets more deeply integrated into every aspect of business, one of the most unique and exciting opportunities is to use AI as your strategic thinking coach. AI is revolutionizing the way we access and process information and is helping us enhance human intelligence, through learning, decision-making, and problem-solving. Its relevance to strategic planning lies in its ability to process vast amounts of data, uncover patterns, and provide actionable insights that can drive a company’s strategic direction.

The transformative impact of AI on business models is profound. Companies that integrate AI into their operations can expect to see a multitude of benefits, including:

  • Improved efficiency : AI can automate routine tasks, freeing up human resources for more complex strategic initiatives.
  • Seamless communication : Advanced AI algorithms can enhance interactions within and between organizations, streamlining collaboration.
  • Empowered decision-making : With AI’s data analysis capabilities, businesses can make more informed decisions, reducing the risk of costly mistakes.
  • Enhanced creativity : AI can assist in generating innovative ideas by analyzing trends and suggesting novel approaches.

At the intersection of AI and strategic decision-making, leaders are equipped with a powerful tool for navigating the complexities of today’s business environment. AI’s role in business strategy is not just about automation; it’s about augmenting human capabilities and providing a level of insight that was previously unattainable. For instance, with Creately’s Visual Canvas, product managers can leverage AI functionality as a strategic thinking coach, utilizing various strategic thinking frameworks to visualize information in multiple ways, thereby discovering new insights and unlocking different perspectives.

Incorporating AI into business strategy requires a thoughtful approach, but the potential for transformative change is immense. As businesses continue to evolve, AI stands as a cornerstone technology that can redefine how strategies are developed and executed.

Crafting Business Strategies with AI Insights

AI’s ability to process vast amounts of data and identify patterns can provide businesses with a competitive edge by forecasting future trends and customer behaviors. Here’s how to leverage AI for these critical aspects of business strategy:

Predictive Analytics : AI algorithms can analyze historical data and current market conditions to predict future outcomes. This can range from customer purchasing habits to inventory needs. By using AI for predictive analytics, businesses can make informed decisions about product development, marketing strategies, and resource allocation.

Market Insights : AI tools can sift through social media, news trends, and other online content to gauge public sentiment and emerging trends. This real-time analysis allows companies to adapt their strategies quickly to meet changing consumer demands or to capitalize on new market opportunities.

Strategic Planning Tools : There are AI-powered tools designed specifically for strategic planning. These tools can help in scenario planning, risk assessment, and decision-making processes by providing simulations and models based on data-driven insights.

Incorporating AI into your business strategy isn’t just about the technology; it’s about fostering a culture that values data-driven decision-making. It requires a shift in mindset to trust in the predictive power of AI and to be willing to act on the insights it provides. For instance, with Creately’s Visual Canvas, teams can use its AI functionality to visualize different strategic scenarios and outcomes, enhancing the decision-making process with a blend of creativity and data analysis.

By embracing AI for predictive analytics and market insights, businesses can anticipate the future and shape it. The key is to integrate AI thoughtfully, ensuring it complements human expertise and creativity, rather than replacing it. As AI continues to evolve, its role in business strategy will only become more integral, offering unprecedented levels of efficiency and insight.

Using Creately VIZ to Develop Business Strategies

Artificial intelligence (AI) is at the forefront of this adaptive capability, offering businesses the tools to respond to market changes with unprecedented speed and accuracy. AI business strategy is not just about automation; it’s about the intelligent analysis and application of data to make informed decisions.

With tools like Creately VIZ , which offers AI functionality within its Visual Canvas, businesses can use strategic thinking frameworks to visualize information in multiple ways, unlocking different perspectives and insights. This empowers decision-making and enhances creativity, ensuring that strategies are not only data-driven but also innovative and effective.

Here are some ways you can use Creately ways to adapt to strategies in real-time:

  • Visualizsing Business Models : AI can analyze market demand, inventory levels, and competitor pricing to adjust prices in real-time, maximizing revenue and ensuring competitiveness.

Business Model Canvas Explained

  • Optimizing Processes : By predicting demand fluctuations and identifying potential disruptions, Creately VIZ helps businesses optimize their supply chains, reducing costs and improving efficiency. With VIZ you can map out processes, visualize flows and much more using the power of AI. Learn more: add AI Flowcharts LP
  • Customer Experience Personalization : AI’s ability to understand customer preferences and behaviors enables businesses to tailor experiences, increasing satisfaction and loyalty.
  • Risk Management : AI can identify potential risks by analyzing market trends and internal data, allowing businesses to mitigate them before they impact operations.

AI systems can process vast amounts of data in real-time, identifying patterns and trends that might be invisible to the human eye. This allows businesses to pivot their strategies quickly, ensuring they remain competitive in a constantly evolving market. For instance, AI can monitor social media sentiment, track competitor activity, and analyze customer behavior, providing a comprehensive view of the market landscape.

Things to Consider When Developing an AI Business Strategy

A cultural shift is essential for businesses to remain agile and competitive in a market where artificial intelligence in business is becoming increasingly prevalent. Here are key strategies to cultivate this environment:

Encourage Curiosity and Experimentation : Promote an organizational mindset that values curiosity and the willingness to experiment with new AI-driven approaches. This can lead to innovative applications of AI that drive your business forward.

Invest in Training and Development : Ensure your team has access to the latest AI education and resources. This investment empowers your employees and keeps your business at the forefront of AI advancements.

Celebrate AI Wins and Learn from Setbacks : Recognize both the successes and the learning opportunities that come with integrating AI into your business strategy. This reinforces a growth mindset and the role of AI in business success.

Iterate and Evolve AI Strategies : AI is not a set-it-and-forget-it solution. Regularly review and adjust your AI initiatives to ensure they align with changing business goals and market conditions.

Promote Cross-Functional Collaboration : AI often impacts multiple areas of a business. Encourage collaboration between departments to ensure AI initiatives are well-rounded and effectively implemented.

By embedding these practices into your company’s DNA, you’ll not only enhance creativity and empower decision-making but also ensure that your AI business strategy remains dynamic and effective. Remember, the level AI can take your business to is directly proportional to the level of commitment you have toward nurturing an AI-savvy culture.

Transform the way You Work with Creately VIZ

Strategic Frameworks at Your Fingertips : With Creately’s AI, you gain instant access to a multitude of strategic thinking frameworks. Whether you’re a seasoned strategist or new to the role of AI in business, Creately simplifies the process, enabling you to apply expert-level strategies without the steep learning curve.

Diverse Data Visualization : Creately allows you to visualize the same information in multiple ways, which is crucial for unlocking different perspectives and discovering deeper insights. This aligns with the level AI should be utilized within organizations – not just for efficiency, but for fostering enhanced creativity in strategy formulation.

By integrating Creately into your AI business strategy, you leverage improved efficiency and empowered decision-making. The platform’s ability to facilitate seamless communication among team members further amplifies its role in developing robust business strategies powered by AI.

Join over thousands of organizations that use Creately to brainstorm, plan, analyze, and execute their projects successfully.

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Harnessing the Power of AI: A Comprehensive Guide to Crafting a Dynamic Business Plan

Chiraag George is a communication specialist here at Creately. He is a marketing junkie that is fascinated by how brands occupy consumer mind space. A lover of all things tech, he writes a lot about the intersection of technology, branding and culture at large.

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    Post Post Many strategic plans aren't strategic, or even plans. To fix that, try a six step process: first, identify key stakeholders. Second, identify a specific, very important key...

  7. Strategic Planning Tools: What, Why, How, Template

    Strategy and strategic plans: How they are different and why it matters. Strategy creates a common understanding of what an organization wants to achieve and what it needs to do to meet its goals. Strategic plans bridge the gap from overall direction to specific projects and day-to-day actions that ultimately execute the strategy. Job No. 1 is ...

  8. 7 Strategic Planning Models and 8 Frameworks To Start [2023] • Asana

    1. Basic model. The basic strategic planning model is ideal for establishing your company's vision, mission, business objectives, and values. This model helps you outline the specific steps you need to take to reach your goals, monitor progress to keep everyone on target, and address issues as they arise.

  9. Strategic Planning: A 10-Step Planning Process

    Strategic business management is the ongoing process by which an organization creates and sustains a successful roadmap that moves the company in the direction it needs to move, year after year, for long-term success. ... This next phase of operational planning consists of creating strategic objectives and initiatives.

  10. The Strategic Planning Process in 4 Steps

    Step 1: Determine Organizational Readiness Set up your plan for success - questions to ask: Are the conditions and criteria for successful planning in place at the current time? Can certain pitfalls be avoided? Is this the appropriate time for your organization to initiate a planning process? Yes or no? If no, where do you go from here?

  11. Strategic planning

    Strategic planning is the process of defining your business's direction and outlining a path toward a preferred future. The goal of a strategic plan is to capture an organization's mission and core principles — to envision the fulfillment of these ideals. Strategic planning is both conceptual and practical, as it presents both high-level ...

  12. Quick Guide: How to Write a Strategic Plan

    Highlight the plan in a company newsletter. Include the plan in new employee onboarding. Post the plan on the employee intranet, along with key highlights and a way to track progress. If you hold a meeting, make sure you and other key planners are prepared to handle the feedback and discussion that will arise.

  13. Strategic Planning in Business

    1. Set Business Goals A business goal is simply an accomplishment that a company wants to achieve in the short, medium or long term. Business goals can take many forms such as increasing sales, revenue, customer satisfaction levels and brand positioning, among many other things. 2.

  14. How To Write A Strategic Plan That Gets Results + Examples

    Pre-Planning Phase: Build The Foundation Before we dive into writing a strategic plan, it's essential to know the basics you should cover before the planning phase. The pre-planning phase is where you'll begin to gather the data and strategic insights necessary to create an effective strategic plan. 1. Run a strategic planning workshop

  15. Why Is Strategic Planning Important?

    Strategic planning is the ongoing organizational process of using available knowledge to document a business's intended direction. This process is used to prioritize efforts, effectively allocate resources, align shareholders and employees on the organization's goals, and ensure those goals are backed by data and sound reasoning.

  16. The 5 steps of the strategic planning process

    1. Define your vision. Whether it's for your business as a whole, or a specific initiative, successful strategic planning involves alignment with a vision for success. You can think of it as a project-specific mission statement or a north star to guide employees toward fulfilling organizational goals.

  17. How To Create A Strategic Plan For Your Business

    Try and create 1-3 objectives for sales, branding, customer service, products, safety, employees, etc. These objectives should be designed to help you reach your strategic vision. Other objectives ...

  18. Strategic Planning Should Be a Strategic Exercise

    Don't create a plan. Create a system. by . Graham Kenny; by . Graham Kenny; October 04, 2022 ... Over the years I've facilitated many strategic planning workshops for business, government, and ...

  19. Strategic Planning

    Strategic planning is the art of creating specific business strategies, implementing them, and evaluating the results of executing the plan, in regard to a company's overall long-term goals or desires.

  20. Strategic Business Plans: Why This Success-Focused Tool Is A ...

    A strategic business plan is about creating specific goals and setting out the steps you'll follow to accomplish them. One of the main things that set a strategic plan apart from other useful ...

  21. Strategic Planning Process: 7 Crucial Steps to Success

    Here's our 7-step approach to strategic planning that ensures everyone is on the same page: Clarify your vision, mission, and values. Conduct an environmental scan. Define strategic priorities. Develop goals and metrics. Derive a strategic plan. Write and communicate your strategic plan. Implement, monitor, and revise.

  22. Free Strategic Plan Template and Best Practices

    Strategic planning can make all these things happen by helping define your goals, aligning your business with them, and creating a roadmap to reach them. However, you need the right template to help you get started with strategic plans like business plans, employee development, OKRs, Porter's Five Forces and more.

  23. What To Include in a Strategic Business Plan (With Template)

    How to create an annual strategic business plan An annual strategic business plan should include 8 key sections. Follow these steps to write an effective annual strategic business plan: State information that defines the company. Perform a SWOT analysis. Identify business goals. Identify key performance indicators.

  24. 30 Emerging Technologies That Will Guide Your Business Decisions

    This theme focuses on making the right business and ethical choices in the adoption of AI and using AI design principles that will benefit people and society.. Human-centered AI (HCAI) is a common AI design principle that calls for AI to continuously benefit from human input. Behavioral analytics refers to session-tracking capabilities that monitor user interactions with a protected service to ...

  25. Video: Strategic Planning in Business

    An effective strategic plan is informed, long-reaching, detailed, and fluid. It is not a list of to-do items, a lofty statement without a plan for implementation, or a recap of the past.

  26. Leverage this AI Framework to Seize Strategic AI Opportunities

    Productivity Transformation: Product/Service Transformation: Focuses on using AI to make your team, operations, and processes more efficient.. Focuses on how AI might change how you create and deliver value, add capability, or reinvent your business model.. It is best examined from individual and team perspectives.. Best examined at a business and executive-team level.

  27. The Importance of Strategic Planning for Farmers and Ranchers

    Parsons (2018) outlined six key components of a business plan and why a farm or ranch should make the effort to develop a business plan (Parsons, 2015). In this Center for Agricultural Profitability article , CAP Director Larry Van Tassell discusses two steps that make planning strategic: defining the mission of the business and assessing the ...

  28. How To Create A Roadmap For Effective Team Building

    3. Have Patience And A Plan. A roadmap for effective team building requires planning and patience. My client committed to an 18-month plan to train her department on a team assessment.

  29. Ways AI Can Revolutionize Your Business Strategy

    Discover how AI enhances decision-making, innovation, and efficiency. Leverage predictive analytics, market insights, and strategic planning tools. With Creately VIZ, visualize data, optimize processes, and personalize customer experiences. Cultivate a culture of curiosity and experimentation to evolve your AI strategy.