what is the meaning of strategic plan

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• What is strategic planning? A 5-step gu ...

What is strategic planning? A 5-step guide

Strategic planning is a process through which business leaders map out their vision for their organization’s growth and how they’re going to get there. In this article, we'll guide you through the strategic planning process, including why it's important, the benefits and best practices, and five steps to get you from beginning to end.

Strategic planning is a process through which business leaders map out their vision for their organization’s growth and how they’re going to get there. The strategic planning process informs your organization’s decisions, growth, and goals.

Strategic planning helps you clearly define your company’s long-term objectives—and maps how your short-term goals and work will help you achieve them. This, in turn, gives you a clear sense of where your organization is going and allows you to ensure your teams are working on projects that make the most impact. Think of it this way—if your goals and objectives are your destination on a map, your strategic plan is your navigation system.

In this article, we walk you through the 5-step strategic planning process and show you how to get started developing your own strategic plan.

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What is strategic planning?

Strategic planning is a business process that helps you define and share the direction your company will take in the next three to five years. During the strategic planning process, stakeholders review and define the organization’s mission and goals, conduct competitive assessments, and identify company goals and objectives. The product of the planning cycle is a strategic plan, which is shared throughout the company.

What is a strategic plan?

A strategic plan is the end result of the strategic planning process. At its most basic, it’s a tool used to define your organization’s goals and what actions you’ll take to achieve them.

Typically, your strategic plan should include: 

Your company’s mission statement

Your organizational goals, including your long-term goals and short-term, yearly objectives

Any plan of action, tactics, or approaches you plan to take to meet those goals

What are the benefits of strategic planning?

Strategic planning can help with goal setting and decision-making by allowing you to map out how your company will move toward your organization’s vision and mission statements in the next three to five years. Let’s circle back to our map metaphor. If you think of your company trajectory as a line on a map, a strategic plan can help you better quantify how you’ll get from point A (where you are now) to point B (where you want to be in a few years).

When you create and share a clear strategic plan with your team, you can:

Build a strong organizational culture by clearly defining and aligning on your organization’s mission, vision, and goals.

Align everyone around a shared purpose and ensure all departments and teams are working toward a common objective.

Proactively set objectives to help you get where you want to go and achieve desired outcomes.

Promote a long-term vision for your company rather than focusing primarily on short-term gains.

Ensure resources are allocated around the most high-impact priorities.

Define long-term goals and set shorter-term goals to support them.

Assess your current situation and identify any opportunities—or threats—allowing your organization to mitigate potential risks.

Create a proactive business culture that enables your organization to respond more swiftly to emerging market changes and opportunities.

What are the 5 steps in strategic planning?

The strategic planning process involves a structured methodology that guides the organization from vision to implementation. The strategic planning process starts with assembling a small, dedicated team of key strategic planners—typically five to 10 members—who will form the strategic planning, or management, committee. This team is responsible for gathering crucial information, guiding the development of the plan, and overseeing strategy execution.

Once you’ve established your management committee, you can get to work on the planning process. 

Step 1: Assess your current business strategy and business environment

Before you can define where you’re going, you first need to define where you are. Understanding the external environment, including market trends and competitive landscape, is crucial in the initial assessment phase of strategic planning.

To do this, your management committee should collect a variety of information from additional stakeholders, like employees and customers. In particular, plan to gather:

Relevant industry and market data to inform any market opportunities, as well as any potential upcoming threats in the near future.

Customer insights to understand what your customers want from your company—like product improvements or additional services.

Employee feedback that needs to be addressed—whether about the product, business practices, or the day-to-day company culture.

Consider different types of strategic planning tools and analytical techniques to gather this information, such as:

A balanced scorecard to help you evaluate four major elements of a business: learning and growth, business processes, customer satisfaction, and financial performance.

A SWOT analysis to help you assess both current and future potential for the business (you’ll return to this analysis periodically during the strategic planning process). 

To fill out each letter in the SWOT acronym, your management committee will answer a series of questions:

What does your organization currently do well?

What separates you from your competitors?

What are your most valuable internal resources?

What tangible assets do you have?

What is your biggest strength? 

Weaknesses:

What does your organization do poorly?

What do you currently lack (whether that’s a product, resource, or process)?

What do your competitors do better than you?

What, if any, limitations are holding your organization back?

What processes or products need improvement? 

Opportunities:

What opportunities does your organization have?

How can you leverage your unique company strengths?

Are there any trends that you can take advantage of?

How can you capitalize on marketing or press opportunities?

Is there an emerging need for your product or service? 

What emerging competitors should you keep an eye on?

Are there any weaknesses that expose your organization to risk?

Have you or could you experience negative press that could reduce market share?

Is there a chance of changing customer attitudes towards your company? 

Step 2: Identify your company’s goals and objectives

To begin strategy development, take into account your current position, which is where you are now. Then, draw inspiration from your vision, mission, and current position to identify and define your goals—these are your final destination. 

To develop your strategy, you’re essentially pulling out your compass and asking, “Where are we going next?” “What’s the ideal future state of this company?” This can help you figure out which path you need to take to get there.

During this phase of the planning process, take inspiration from important company documents, such as:

Your mission statement, to understand how you can continue moving towards your organization’s core purpose.

Your vision statement, to clarify how your strategic plan fits into your long-term vision.

Your company values, to guide you towards what matters most towards your company.

Your competitive advantages, to understand what unique benefit you offer to the market.

Your long-term goals, to track where you want to be in five or 10 years.

Your financial forecast and projection, to understand where you expect your financials to be in the next three years, what your expected cash flow is, and what new opportunities you will likely be able to invest in.

Step 3: Develop your strategic plan and determine performance metrics

Now that you understand where you are and where you want to go, it’s time to put pen to paper. Take your current business position and strategy into account, as well as your organization’s goals and objectives, and build out a strategic plan for the next three to five years. Keep in mind that even though you’re creating a long-term plan, parts of your plan should be created or revisited as the quarters and years go on.

As you build your strategic plan, you should define:

Company priorities for the next three to five years, based on your SWOT analysis and strategy.

Yearly objectives for the first year. You don’t need to define your objectives for every year of the strategic plan. As the years go on, create new yearly objectives that connect back to your overall strategic goals . 

Related key results and KPIs. Some of these should be set by the management committee, and some should be set by specific teams that are closer to the work. Make sure your key results and KPIs are measurable and actionable. These KPIs will help you track progress and ensure you’re moving in the right direction.

Budget for the next year or few years. This should be based on your financial forecast as well as your direction. Do you need to spend aggressively to develop your product? Build your team? Make a dent with marketing? Clarify your most important initiatives and how you’ll budget for those.

A high-level project roadmap . A project roadmap is a tool in project management that helps you visualize the timeline of a complex initiative, but you can also create a very high-level project roadmap for your strategic plan. Outline what you expect to be working on in certain quarters or years to make the plan more actionable and understandable.

Step 4: Implement and share your plan

Now it’s time to put your plan into action. Strategy implementation involves clear communication across your entire organization to make sure everyone knows their responsibilities and how to measure the plan’s success. 

Make sure your team (especially senior leadership) has access to the strategic plan, so they can understand how their work contributes to company priorities and the overall strategy map. We recommend sharing your plan in the same tool you use to manage and track work, so you can more easily connect high-level objectives to daily work. If you don’t already, consider using a work management platform .  

A few tips to make sure your plan will be executed without a hitch: 

Communicate clearly to your entire organization throughout the implementation process, to ensure all team members understand the strategic plan and how to implement it effectively. 

Define what “success” looks like by mapping your strategic plan to key performance indicators.

Ensure that the actions outlined in the strategic plan are integrated into the daily operations of the organization, so that every team member's daily activities are aligned with the broader strategic objectives.

Utilize tools and software—like a work management platform—that can aid in implementing and tracking the progress of your plan.

Regularly monitor and share the progress of the strategic plan with the entire organization, to keep everyone informed and reinforce the importance of the plan.

Establish regular check-ins to monitor the progress of your strategic plan and make adjustments as needed. 

Step 5: Revise and restructure as needed

Once you’ve created and implemented your new strategic framework, the final step of the planning process is to monitor and manage your plan.

Remember, your strategic plan isn’t set in stone. You’ll need to revisit and update the plan if your company changes directions or makes new investments. As new market opportunities and threats come up, you’ll likely want to tweak your strategic plan. Make sure to review your plan regularly—meaning quarterly and annually—to ensure it’s still aligned with your organization’s vision and goals.

Keep in mind that your plan won’t last forever, even if you do update it frequently. A successful strategic plan evolves with your company’s long-term goals. When you’ve achieved most of your strategic goals, or if your strategy has evolved significantly since you first made your plan, it might be time to create a new one.

Build a smarter strategic plan with a work management platform

To turn your company strategy into a plan—and ultimately, impact—make sure you’re proactively connecting company objectives to daily work. When you can clarify this connection, you’re giving your team members the context they need to get their best work done. 

A work management platform plays a pivotal role in this process. It acts as a central hub for your strategic plan, ensuring that every task and project is directly tied to your broader company goals. This alignment is crucial for visibility and coordination, allowing team members to see how their individual efforts contribute to the company’s success. 

By leveraging such a platform, you not only streamline workflow and enhance team productivity but also align every action with your strategic objectives—allowing teams to drive greater impact and helping your company move toward goals more effectively. 

Strategic planning FAQs

Still have questions about strategic planning? We have answers.

Why do I need a strategic plan?

A strategic plan is one of many tools you can use to plan and hit your goals. It helps map out strategic objectives and growth metrics that will help your company be successful.

When should I create a strategic plan?

You should aim to create a strategic plan every three to five years, depending on your organization’s growth speed.

Since the point of a strategic plan is to map out your long-term goals and how you’ll get there, you should create a strategic plan when you’ve met most or all of them. You should also create a strategic plan any time you’re going to make a large pivot in your organization’s mission or enter new markets. 

What is a strategic planning template?

A strategic planning template is a tool organizations can use to map out their strategic plan and track progress. Typically, a strategic planning template houses all the components needed to build out a strategic plan, including your company’s vision and mission statements, information from any competitive analyses or SWOT assessments, and relevant KPIs.

What’s the difference between a strategic plan vs. business plan?

A business plan can help you document your strategy as you’re getting started so every team member is on the same page about your core business priorities and goals. This tool can help you document and share your strategy with key investors or stakeholders as you get your business up and running.

You should create a business plan when you’re: 

Just starting your business

Significantly restructuring your business

If your business is already established, you should create a strategic plan instead of a business plan. Even if you’re working at a relatively young company, your strategic plan can build on your business plan to help you move in the right direction. During the strategic planning process, you’ll draw from a lot of the fundamental business elements you built early on to establish your strategy for the next three to five years.

What’s the difference between a strategic plan vs. mission and vision statements?

Your strategic plan, mission statement, and vision statements are all closely connected. In fact, during the strategic planning process, you will take inspiration from your mission and vision statements in order to build out your strategic plan.

Simply put: 

A mission statement summarizes your company’s purpose.

A vision statement broadly explains how you’ll reach your company’s purpose.

A strategic plan pulls in inspiration from your mission and vision statements and outlines what actions you’re going to take to move in the right direction. 

For example, if your company produces pet safety equipment, here’s how your mission statement, vision statement, and strategic plan might shake out:

Mission statement: “To ensure the safety of the world’s animals.” 

Vision statement: “To create pet safety and tracking products that are effortless to use.” 

Your strategic plan would outline the steps you’re going to take in the next few years to bring your company closer to your mission and vision. For example, you develop a new pet tracking smart collar or improve the microchipping experience for pet owners. 

What’s the difference between a strategic plan vs. company objectives?

Company objectives are broad goals. You should set these on a yearly or quarterly basis (if your organization moves quickly). These objectives give your team a clear sense of what you intend to accomplish for a set period of time. 

Your strategic plan is more forward-thinking than your company goals, and it should cover more than one year of work. Think of it this way: your company objectives will move the needle towards your overall strategy—but your strategic plan should be bigger than company objectives because it spans multiple years.

What’s the difference between a strategic plan vs. a business case?

A business case is a document to help you pitch a significant investment or initiative for your company. When you create a business case, you’re outlining why this investment is a good idea, and how this large-scale project will positively impact the business. 

You might end up building business cases for things on your strategic plan’s roadmap—but your strategic plan should be bigger than that. This tool should encompass multiple years of your roadmap, across your entire company—not just one initiative.

What’s the difference between a strategic plan vs. a project plan?

A strategic plan is a company-wide, multi-year plan of what you want to accomplish in the next three to five years and how you plan to accomplish that. A project plan, on the other hand, outlines how you’re going to accomplish a specific project. This project could be one of many initiatives that contribute to a specific company objective which, in turn, is one of many objectives that contribute to your strategic plan. 

What’s the difference between strategic management vs. strategic planning?

A strategic plan is a tool to define where your organization wants to go and what actions you need to take to achieve those goals. Strategic planning is the process of creating a plan in order to hit your strategic objectives.

Strategic management includes the strategic planning process, but also goes beyond it. In addition to planning how you will achieve your big-picture goals, strategic management also helps you organize your resources and figure out the best action plans for success. 

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Home » What Is Strategic Planning? (Definition and Examples)

What Is Strategic Planning? (Definition and Examples)

July 1, 2022 max 7min read.

This Article Covers :-

What Is Strategic Planning?

What are the elements of strategic planning, why is strategic planning important, what are the examples of strategic planning, definition of strategic planning.

Strategic planning refers to developing specific business plans, putting them into action, and analyzing the results regarding a company’s overarching long-term goals or objectives.

Strategic planning is another buzzword that businesses and startups revolve around. However, most of them are only stuck on strategic thinking.

There’s a difference between strategic thinking and strategic planning . The latter gets things done.

But what is strategic planning, and what does it involve? 

Strategic planning is the process of developing a defined business strategy that helps your company’s direction. 

It involves prioritization , efficient resource capacity planning , the optimization of operations, and the assurance that all employees and stakeholders align towards the same goals. 

It reaffirms a company’s direction and how it will measure its success. 

What Are the Types of Strategic Planning?

There are three main types of strategic planning:

Annual planning

Annual planning is a process that takes place over one year. It involves setting goals and objectives for the year and developing strategies to achieve those goals. 

Annual planning is best suited for stable businesses with a predictable sales cycle.

Rolling planning

Rolling planning involves setting goals and objectives on a rolling basis and developing strategies to achieve those goals. 

Rolling planning is best suited for businesses in a growth phase or an unpredictable sales cycle.

Crisis planning

Crisis planning is a process in response to a specific crisis. 

It involves developing a plan to address the crisis and implementing that plan. 

In addition to these, there are specific strategic planning models that you can adopt while approaching your strategic plan. 

Some of the strategic planning models are as follows: 

SWOT Analysis

The SWOT analysis is a rising model that companies frequently employ at the start of the strategic planning process. 

It highlights the internal and external factors that help or hinder the achievement of a corporate goal.

Strengths – Factors of the company that can assist in achieving the goal.

Weaknesses – Factors of the business that may obstruct the achievement of the goal

Opportunities – External variables that could assist in achieving the goal.

Threats – External variables that may obstruct the achievement of the goal.

SWOT analysis might assist you in figuring out what you’re good at and where you could improve. 

Take a look at our SWOT analysis guide .

PESTLE Analysis

PESTLE divides the business environment into four categories:

Political – Changes in taxation, trading agreements, or grant support for enterprises are examples of political factors.

Economic – Interest rates, inflation, and changes in consumer demand are all economic factors.

Social – Factors such as altering lifestyle patterns or demographic trends

Technological – Emerging technology or equipment that boosts productivity are examples of technological advancements.

Legal – Changes in employment law or the way your industry is controlled are examples of legal changes.

Environmental – Customers, regulators, and employees’ expectations of sustainable development evolve.

Now that you know how to approach your strategic planning process, look at the elements of strategic planning.

There are four essential elements of strategic planning that you must pay attention to. They are as follows:

Your Mission

Strategic planning begins with a mission statement that gives a business a feeling of direction and purpose. 

An organization’s mission statement describes who it is, what it does, and where it wants to go. Mission statements are usually broad but specific. 

A company in the education field, for example, might aim to be the market leader in online virtual instructional tools and services.

Selecting goals is an integral part of strategic planning. Most teams use SMART goals or other objectively quantifiable goals.  

Measurable goals are vital because they allow business leaders to assess how well the company meets its objectives and achieves its overall mission.

You can begin your SMART goal-setting journey by reading our guide on it.

Alignment is a crucial yet often neglected element of strategic planning. Here are some things to keep in mind: 

• Do your short-term goals align with your long-term goals? 
• How do you plan on aligning your cross-functional teams ? 
• How will you manage your stakeholder expectations ? 

You can always get started with your internal team alignment and make your way up. At Chisel , we use the Team Radar feature to grasp which page each team is on. 

The strategic planning process is essential for several reasons. 

It helps you take a step back, assess your business or organization’s current situation, and identify areas that need improvement. 

Furthermore, it gives you a roadmap to follow as you work to achieve your goals.

Good strategic planning will keep you focused and help ensure that you make decisions aligned with your overall goals.

If you’re unsure where to start, there are many product and business strategy templates and tools we discuss in our blogs . 

What Are the Steps in the Strategic Planning Process?

You can carry out strategic planning through the following steps:

Identifying 

The first step in strategic planning is identifying a company’s present strategic position. 

This is where stakeholders examine the organization and its environment using the existing strategic plan, including the mission statement and long-term strategic goals.

Prioritizing

The strategic planners then develop targets and objectives that align with the organization’s mission and goals to help the company achieve them.  

There could be a lot of potential goals; thus, prioritizing the most important, relevant, and immediate ones is crucial.

You may employ any prioritization matrix or establish OKRs in this step.

Developing 

This is the crux of strategic planning, in which stakeholders work together to develop the stages or strategies required to achieve a specified strategic goal. 

This may entail developing short-term tactical business strategies that align with the overall strategy. 

Stakeholders participating in the development use tools like a mind-map to visualize and alter the plan.

Implementing

It’s time to put the strategic plan into action after being prepared. 

To set roles, make investments, alter policies and processes, and develop measurement and reporting, you must communicate well across the business. 

Strategic management and regular strategic reviews are usually part of the implementation process to ensure that objectives stay on track.

As company conditions change and new possibilities arise, you should regularly evaluate and update your strategic planning to alter priorities and reconsider goals. 

Quarterly evaluations of KPIs are possible, as are annual revisions to the strategic plan. 

Stakeholders can review performance against goals using balanced scorecards and other tools.

Now you know the fundamental steps involved in the strategic planning process. However, you can take it one step forward by instilling some best practices.

What Are the Best Practices for Strategic Planning?

A few best practices for strategic planning can help businesses get the most out of this process.

Team Alignment

The first best practice for strategic planning is ensuring that the entire team is involved. 

From the CEO to the entry-level employees, everyone should have a say in the company’s goals and how you can achieve them. This ensures everyone is on the same page and working towards the same objectives.

Using product roadmap software ‘s that align all teams and stakeholders in one place can come in handy.

Periodic Review

Another best practice for strategic planning is reviewing and adjusting the plan as needed. 

The business landscape is constantly competitive , so it’s essential to ensure that the strategic plan is still relevant and achievable. 

Adjusting the plan as needed will help keep the business on track and ensure that the goals are still realistic.

Transparent Communication

Finally, one of the most essential best practices for strategic planning is communicating the plan to everyone in the company. 

Employees need to know the goals and how they can help achieve them. By communicating the plan clearly, businesses can ensure that everyone is working towards the same objectives.

By following these best practices for strategic planning, businesses can ensure that they get the most out of this essential process.

Some of the most popular companies globally are known for their strategic planning. 

Nike, for example, has a well-defined strategic plan that has helped them become one of the most successful companies in the world. 

Another great example is Google, which has a clear strategic plan that has helped them become a global powerhouse. 

Regarding social media giants, Facebook is one of the top dogs. With over 2.23 billion monthly active users, the platform boasts incredible reach.

Given its size and scope, it’s no surprise that Facebook takes a very strategic approach to its planning. The company has a whole team dedicated to strategic planning and execution.

Well, now you have everything you need. Let’s embark on your strategic planning journey with Chisel’s free-forever all-rounder product management tools ! 

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Strategic committee usually leads the strategic planning. This committee may include stakeholders, corporate executives, product owners and managers , and other strategic consultants.

Goals and objectives are two critical components of strategic planning. Goals are the broad, long-term aspirations that an organization hopes to achieve. Objectives are the specific, measurable steps an organization will take to achieve its goals.

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Essential Guide to the Strategic Planning Process

By Joe Weller | April 3, 2019 (updated March 26, 2024)

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In this article, you’ll learn the basics of the strategic planning process and how a strategic plan guides you to achieving your organizational goals. Plus, find expert insight on getting the most out of your strategic planning.

Included on this page, you'll discover the importance of strategic planning , the steps of the strategic planning process , and the basic sections to include in your strategic plan .

What Is Strategic Planning?

Strategic planning is an organizational activity that aims to achieve a group’s goals. The process helps define a company’s objectives and investigates both internal and external happenings that might influence the organizational path. Strategic planning also helps identify adjustments that you might need to make to reach your goal. Strategic planning became popular in the 1960s because it helped companies set priorities and goals, strengthen operations, and establish agreement among managers about outcomes and results.

Strategic planning can occur over multiple years, and the process can vary in length, as can the final plan itself. Ideally, strategic planning should result in a document, a presentation, or a report that sets out a blueprint for the company’s progress.

By setting priorities, companies help ensure employees are working toward common and defined goals. It also aids in defining the direction an enterprise is heading, efficiently using resources to achieve the organization’s goals and objectives. Based on the plan, managers can make decisions or allocate the resources necessary to pursue the strategy and minimize risks.

Strategic planning strengthens operations by getting input from people with differing opinions and building a consensus about the company’s direction. Along with focusing energy and resources, the strategic planning process allows people to develop a sense of ownership in the product they create.

“Strategic planning is not really one thing. It is really a set of concepts, procedures, tools, techniques, and practices that have to be adapted to specific contexts and purposes,” 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 . “Strategic planning is a prompt to foster strategic thinking, acting, and learning, and they all matter and they are all connected.”

What Strategic Planning Is Not

Strategic planning is not a to-do list for the short or long term — it is the basis of a business, its direction, and how it will get there.

“You have to think very strategically about strategic planning. It is more than just following steps,” Bryson explains. “You have to understand strategic planning is not some kind of magic solution to fixing issues. Don’t have unrealistic expectations.”

Strategic planning is also different from a business plan that focuses on a specific product, service, or program and short-term goals. Rather, strategic planning means looking at the big picture.

While they are related, it is important not to confuse strategic planning with strategic thinking, which is more about imagining and innovating in a way that helps a company. In contrast, strategic planning supports those thoughts and helps you figure out how to make them a reality.

Another part of strategic planning is tactical planning , which involves looking at short-term efforts to achieve longer-term goals.

Lastly, marketing plans are not the same as strategic plans. A marketing plan is more about introducing and delivering a service or product to the public instead of how to grow a business. For more about marketing plans and processes, read this article .

Strategic plans include information about finances, but they are different from financial planning , which involves different processes and people. Financial planning templates can help with that process.

Why Is Strategic Planning Important?

In today’s technological age, strategic plans provide businesses with a path forward. Strategic plans help companies thrive, not just survive — they provide a clear focus, which makes an organization more efficient and effective, thereby increasing productivity.

“You are not going to go very far if you don’t have a strategic plan. You need to be able to show where you are going,” says Stefan Hofmeyer, an experienced strategist and co-founder of Global PMI Partners . He lives in the startup-rich environment of northern California and says he often sees startups fail to get seed money because they do not have a strong plan for what they want to do and how they want to do it.

Getting team members on the same page (in both creating a strategic plan and executing the plan itself) can be beneficial for a company. Planners can find satisfaction in the process and unite around a common vision. In addition, you can build strong teams and bridge gaps between staff and management.

“You have to reach agreement about good ideas,” Bryson says. “A really good strategy has to meet a lot of criteria. It has to be technically workable, administratively feasible, politically acceptable, and legally, morally, and ethically defensible, and that is a pretty tough list.”

By discussing a company’s issues during the planning process, individuals can voice their opinions and provide information necessary to move the organization ahead — a form of problem solving as a group.

Strategic plans also provide a mechanism to measure success and progress toward goals, which keeps employees on the same page and helps them focus on the tasks at hand.

When Is the Time to Do Strategic Planning?

There is no perfect time to perform strategic planning. It depends entirely on the organization and the external environment that surrounds it. However, here are some suggestions about when to plan:

If your industry is changing rapidly

When an organization is launching

At the start of a new year or funding period

In preparation for a major new initiative

If regulations and laws in your industry are or will be changing

“It’s not like you do all of the thinking and planning, and then implement,” Bryson says. “A mistake people make is [believing] the thinking has to precede the acting and the learning.”

Even if you do not re-create the entire planning process often, it is important to periodically check your plan and make sure it is still working. If not, update it.

What Is the Strategic Planning Process?

Strategic planning is a process, and not an easy one. A key is to make sure you allow enough time to complete the process without rushing, but not take so much time that you lose momentum and focus. The process itself can be more important than the final document due to the information that comes out of the discussions with management, as well as lower-level workers.

“There is not one favorite or perfect planning process,” says Jim Stockmal, president of the Association for Strategic Planning (ASP). He explains that new techniques come out constantly, and consultants and experienced planners have their favorites. In an effort to standardize the practice and terms used in strategic planning, ASP has created two certification programs .

Level 1 is the Strategic Planning Professional (SPP) certification. It is designed for early- or mid-career planners who work in strategic planning. Level 2, the Strategic Management Professional (SMP) certification, is geared toward seasoned professionals or those who train others. Stockmal explains that ASP designed the certification programs to add structure to the otherwise amorphous profession.

The strategic planning process varies by the size of the organization and can be formal or informal, but there are constraints. For example, teams of all sizes and goals should build in many points along the way for feedback from key leaders — this helps the process stay on track.

Some elements of the process might have specific start and end points, while others are continuous. For example, there might not be one “aha” moment that suddenly makes things clear. Instead, a series of small moves could slowly shift the organization in the right direction.

“Don’t make it overly complex. Bring all of the stakeholders together for input and feedback,” Stockmal advises. “Always be doing a continuous environmental scan, and don’t be afraid to engage with stakeholders.”

Additionally, knowing your company culture is important. “You need to make it work for your organization,” he says.

There are many different ways to approach the strategic planning process. Below are three popular approaches:

Goals-Based Planning: This approach begins by looking at an organization’s mission and goals. From there, you work toward that mission, implement strategies necessary to achieve those goals, and assign roles and deadlines for reaching certain milestones.

Issues-Based Planning: In this approach, start by looking at issues the company is facing, then decide how to address them and what actions to take.

Organic Planning: This approach is more fluid and begins with defining mission and values, then outlining plans to achieve that vision while sticking to the values.

“The approach to strategic planning needs to be contingent upon the organization, its history, what it’s capable of doing, etc.,” Bryson explains. “There’s such a mistake to think there’s one approach.”

For more information on strategic planning, read about how to write a strategic plan and the different types of models you can use.

Who Participates in the Strategic Planning Process?

For work as crucial as strategic planning, it is necessary to get the right team together and include them from the beginning of the process. Try to include as many stakeholders as you can.

Below are suggestions on who to include:

Senior leadership

Strategic planners

Strategists

People who will be responsible for implementing the plan

People to identify gaps in the plan

Members of the board of directors

“There can be magic to strategic planning, but it’s not in any specific framework or anybody’s 10-step process,” Bryson explains. “The magic is getting key people together, getting them to focus on what’s important, and [getting] them to do something about it. That’s where the magic is.”

Hofmeyer recommends finding people within an organization who are not necessarily current leaders, but may be in the future. “Sometimes they just become obvious. Usually they show themselves to you, you don’t need to look for them. They’re motivated to participate,” he says. These future leaders are the ones who speak up at meetings or on other occasions, who put themselves out there even though it is not part of their job description.

At the beginning of the process, establish guidelines about who will be involved and what will be expected of them. Everyone involved must be willing to cooperate and collaborate. If there is a question about whether or not to include anyone, it is usually better to bring on extra people than to leave someone out, only to discover later they should have been a part of the process all along. Not everyone will be involved the entire time; people will come and go during different phases.

Often, an outside facilitator or consultant can be an asset to a strategic planning committee. It is sometimes difficult for managers and other employees to sit back and discuss what they need to accomplish as a company and how they need to do it without considering other factors. As objective observers, outside help can often offer insight that may escape insiders.

Hofmeyer says sometimes bosses have blinders on that keep them from seeing what is happening around them, which allows them to ignore potential conflicts. “People often have their own agendas of where they want to go, and if they are not aligned, it is difficult to build a strategic plan. An outsider perspective can really take you out of your bubble and tell you things you don’t necessarily want to hear [but should]. We get into a rhythm, and it’s really hard to step out of that, so bringing in outside people can help bring in new views and aspects of your business.”

An outside consultant can also help naysayers take the process more seriously because they know the company is investing money in the efforts, Hofmeyer adds.

No matter who is involved in the planning process, make sure at least one person serves as an administrator and documents all planning committee actions.

What Is in a Strategic Plan?

A strategic plan communicates goals and what it takes to achieve them. The plan sometimes begins with a high-level view, then becomes more specific. Since strategic plans are more guidebooks than rulebooks, they don’t have to be bureaucratic and rigid. There is no perfect plan; however, it needs to be realistic.

There are many sections in a strategic plan, and the length of the final document or presentation will vary. The names people use for the sections differ, but the general ideas behind them are similar: Simply make sure you and your team agree on the terms you will use and what each means.

One-Page Strategic Planning Template

“I’m a big fan of getting a strategy onto one sheet of paper. It’s a strategic plan in a nutshell, and it provides a clear line of sight,” Stockmal advises.

You can use the template below to consolidate all your strategic ideas into a succinct, one-page strategic plan. Doing so provides you with a high-level overview of your strategic initiatives that you can place on your website, distribute to stakeholders, and refer to internally. More extensive details about implementation, capacity, and other concerns can go into an expanded document.

Download One-Page Strategic Planning Template Excel | Word | Smartsheet

The most important part of the strategic plan is the executive summary, which contains the highlights of the plan. Although it appears at the beginning of the plan, it should be written last, after you have done all your research.

Of writing the executive summary, Stockmal says, “I find it much easier to extract and cut and edit than to do it first.”

For help with creating executive summaries, see these templates .

Other parts of a strategic plan can include the following:

Description: A description of the company or organization.

Vision Statement: A bold or inspirational statement about where you want your company to be in the future.

Mission Statement: In this section, describe what you do today, your audience, and your approach as you work toward your vision.

Core Values: In this section, list the beliefs and behaviors that will enable you to achieve your mission and, eventually, your vision.

Goals: Provide a few statements of how you will achieve your vision over the long term.

Objectives: Each long-term goal should have a few one-year objectives that advance the plan. Make objectives SMART (specific, measurable, achievable, and time-based) to get the most out of them.

Budget and Operating Plans: Highlight resources you will need and how you will implement them.

Monitoring and Evaluation: In this section, describe how you will check your progress and determine when you achieve your goals.

One of the first steps in creating a strategic plan is to perform both an internal and external analysis of the company’s environment. Internally, look at your company’s strengths and weaknesses, as well as the personal values of those who will implement your plan (managers, executives, board members). Externally, examine threats and opportunities within the industry and any broad societal expectations that might exist.

You can perform a SWOT (strengths, weaknesses, opportunities, and threats) analysis to sum up where you are currently and what you should focus on to help you achieve your future goals. Strengths shows you what you do well, weaknesses point out obstacles that could keep you from achieving your objectives, opportunities highlight where you can grow, and threats pinpoint external factors that could be obstacles in your way.

You can find more information about performing a SWOT analysis and free templates in this article . Another analysis technique, STEEPLE (social, technological, economic, environmental, political, legal, and ethical), often accompanies a SWOT analysis.

Basics of Strategic Planning

How you navigate the strategic planning process will vary. Several tools and techniques are available, and your choice depends on your company’s leadership, culture, environment, and size, as well as the expertise of the planners.

All include similar sections in the final plan, but the ways of driving those results differ. Some tools are goals-based, while others are issues- or scenario-based. Some rely on a more organic or rigid process.

Hofmeyer summarizes what goes into strategic planning:

Understand the stakeholders and involve them from the beginning.

Agree on a vision.

Hold successful meetings and sessions.

Summarize and present the plan to stakeholders.

Identify and check metrics.

Make periodic adjustments.

Items That Go into Strategic Planning

Strategic planning contains inputs, activities, outputs, and outcomes. Inputs and activities are elements that are internal to the company, while outputs and outcomes are external.

Remember, there are many different names for the sections of strategic plans. The key is to agree what terms you will use and define them for everyone involved.

Inputs are important because it is impossible to know where you are going until you know what is around you where you are now.

Companies need to gather data from a variety of sources to get a clear look at the competitive environment and the opportunities and risks within that environment. You can think of it like a competitive intelligence program.

Data should come from the following sources:

Interviews with executives

A review of documents about the competition or market that are publicly available

Primary research by visiting or observing competitors

Studies of your industry

The values of key stakeholders

This information often goes into writing an organization’s vision and mission statements.

Activities are the meetings and other communications that need to happen during the strategic planning process to help everyone understand the competition that surrounds the organization.

It is important both to understand the competitive environment and your company’s response to it. This is where everyone looks at and responds to the data gathered from the inputs.

The strategic planning process produces outputs. Outputs can be as basic as the strategic planning document itself. The documentation and communications that describe your organization’s strategy, as well as financial statements and budgets, can also be outputs.

The implementation of the strategic plan produces outcomes (distinct from outputs). The outcomes determine the success or failure of the strategic plan by measuring how close they are to the goals and vision you outline in your plan.

It is important to understand there will be unplanned and unintended outcomes, too. How you learn from and adapt to these changes influence the success of the strategic plan.

During the planning process, decide how you will measure both the successes and failures of different parts of the strategic plan.

Sharing, Evaluating, and Monitoring the Progress of a Strategic Plan

After companies go through a lengthy strategic planning process, it is important that the plan does not sit and collect dust. Share, evaluate, and monitor the plan to assess how you are doing and make any necessary updates.

“[Some] leaders think that once they have their strategy, it’s up to someone else to execute it. That’s a mistake I see,” Stockmal says.

The process begins with distributing and communicating the plan. Decide who will get a copy of the plan and how those people will tell others about it. Will you have a meeting to kick off the implementation? How will you specify who will do what and when? Clearly communicate the roles people will have.

“Before you communicate the plan [to everyone], you need to have the commitment of stakeholders,” Hofmeyer recommends. Have the stakeholders be a part of announcing the plan to everyone — this keeps them accountable because workers will associate them with the strategy. “That applies pressure to the stakeholders to actually do the work.”

Once the team begins implementation, it’s necessary to have benchmarks to help measure your successes against the plan’s objectives. Sometimes, having smaller action plans within the larger plan can help keep the work on track.

During the planning process, you should have decided how you will measure success. Now, figure out how and when you will document progress. Keep an eye out for gaps between the vision and its implementation — a big gap could be a sign that you are deviating from the plan.

Tools are available to assist with tracking performance of strategic plans, including several types of software. “For some organizations, a spreadsheet is enough, but you are going to manually enter the data, so someone needs to be responsible for that,” Stockmal recommends.

Remember: strategic plans are not written in stone. Some deviation will be necessary, and when it happens, it’s important to understand why it occurred and how the change might impact the company's vision and goals.

Deviation from the plan does not mean failure, reminds Hofmeyer. Instead, understanding what transpired is the key. “Things happen, [and] you should always be on the lookout for that. I’m a firm believer in continuous improvement,” he says. Explain to stakeholders why a change is taking place. “There’s always a sense of re-evaluation, but do it methodically.”

Build in a schedule to review and amend the plan as necessary; this can help keep companies on track.

What Is Strategic Management?

Strategic planning is part of strategic management, and it involves the activities that make the strategic plan a reality. Essentially, strategic management is getting from the starting point to the goal effectively and efficiently using the ongoing activities and processes that a company takes on in order to keep in line with its mission, vision, and strategic plan.

“[Strategic management] closes the gap between the plan and executing the strategy,” Stockmal of ASP says. Strategic management is part of a larger planning process that includes budgeting, forecasting, capital allocation, and more.

There is no right or wrong way to do strategic management — only guidelines. The basic phases are preparing for strategic planning, creating the strategic plan, and implementing that plan.

No matter how you manage your plan, it’s key to allow the strategic plan to evolve and grow as necessary, due to both the internal and external factors.

“We get caught up in all of the day-to-day issues,” Stockmal explains, adding that people do not often leave enough time for implementing the plan and making progress. That’s what strategic management implores: doing things that are in the plan and not letting the plan sit on a shelf.

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

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.

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:

• 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

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Strategic Planning Process Definition, Steps and Examples

Published: 03 January, 2024

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Digital Strategy

Table of Contents

Organizations use Strategic Planning to gather all their stakeholders to evaluate the collection of current circumstances and decide upon their ongoing goals and benchmarks. They decide upon long-term objectives and establish a vision for the company’s future.

The efforts behind an organization’s Strategic Planning Processes are vital to its success, and yet, while many organizations acknowledge they need to do this kind of planning, they often don’t understand how to make it a reality. In this article, we explain the reasons behind Strategic Planning and how to make your Strategic Planning Process as powerful as possible.

As always, Digital Leadership welcomes the opportunity to partner with you and your business. Our innovation consulting services and digital transformation services assist organizations in navigating the strategic planning process and beyond. By leveraging our collaborative approach, we aim to align your vision with actionable goals. As an initial step to assist businesses in selecting tailored services that align with their specific needs and objectives for innovation, we offer an Innovation Blueprint to evaluate current innovation practices. If you have questions or comments or would like to leverage the experience of one of our global experts, schedule a free consultation by visiting our CONTACT US page today!

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What is a Strategic Plan

Strategic planning is a systematic process wherein the leaders of an organization articulate their vision for the future and delineate the goals and objectives that will guide the trajectory of the organization.

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What is the Strategic Planning Process

Strategic planning is a process of defining an organization’s direction and making decisions on allocating its resources to pursue this direction . It involves creating a long-term plan that outlines the organization’s vision, mission, values, and objectives, as well as the strategies and tactics that will be used to achieve them.

Strategy is often misunderstood, which is surprising because fundamentally it’s a pretty basic concept. Strategy is a clearly expressed direction and a verified plan on how to get there. Your Strategic Planning Process formalizes the steps you’ll take to decide on your plan. The Strategic Planning Process facilitates using a Strategic Execution Framework that articulates where you’ll invest in innovation and where you can cut costs.

As far as business development planning is concerned, your Strategic Execution Framework is a vital tool for driving innovation, but first you must define the process you’ll undertake to determine how you and your team see the future of your organization. In this article, we discuss how to create your Strategic Plan and define its relationship to other concepts and documents that direct your business and its activities.

While it’s true that every business is different and must develop their own processes, we believe there are some process  of strategic planning stepsthat benefit all organizations.

Below are our recommendations for the steps to take when undergoing your Strategic Planning Process, along with the questions we suggest you answer during each specific step.

Step One: Analyze your Business Environment

• Who are your competitors?
• What relevant market data do you have, and what do you still need?
• What technology has emerged that impacts your business model?
• How have customer expectations changed since your last Strategic Plan?
• What advantages do you have over competitors?
• Where is your company weaker compared to competitors?
• What predictable complications are on the horizon?
• Which unpredictable complications seem most likely or most potentially impactful?

Step Two: Set your Strategic Direction

• What is your overall Business Purpose ?
• How have your operations reflected your Purpose and Goals recently?
• How should your operations reflect your Purpose and Goals?
• Where do you see your business going in the next year?
• In two years? In three years?
• What are the metrics you’ll use to measure success?
• What are your make-or-break necessities?

Step Three: Set and develop Strategic Goals and Strategic Objectives

• Have you considered short-, mid-, and long-term business goals , and what are they?
• How do your Strategic Goals reflect your Mission Statement?
• How do your Strategic Goals reflect your company values and vision?
• What daily operations must be completed to work toward your Strategic Objectives?
• How will you communicate your Strategic Goals and Strategic Objectives?
• Who is responsible for reporting on success?
• How will strategic data be collected?

Related: Strategic Goals: Examples, Importance, Definitions and How to Set Them

Step Four: Drill down to Department-Level Objectives

• What are specific department concerns?
• How will your budget influence and be influenced by your Strategic Goals and Objectives?
• Which departments have resources that could be shared to better advantage?
• What roles do individual departments play in your overall Strategic Goals?
• What ongoing projects become a priority because of your new Strategic Goals?
• Are Departmental Objectives complementing each other and the overall Business Model?

Step Five: Manage and Analyze Performance

• Who is on the Strategic Planning team?
• Are tasks and job descriptions properly aligned to ensure the right work is getting completed?
• What is the schedule for the meeting for Strategic Planning?
• What are your metrics for measuring performance and success?
• Have you clearly articulated and shared KPIs?
• Who is responsible for gathering data?
• How will data be collected?
• How will data be reported?
• What’s at stake for strategy success or failure?

Step Six: Review and develop your Strategic Plan

• How should your Strategic Plan look on paper?
• What is your Strategy Execution Framework —how will you guarantee the Strategic Plan Team’s decisions are respected and executed?
• What is the review process?
• How often do you evaluate your Strategic Plan?
• How will you communicate your final Strategic Plan?

Strategic Planning Process Examples

1) apple strategic plan process.

• Vision and Mission: Apple’s strategic planning begins with a clear vision and mission. Apple’s vision is to create innovative products that inspire and enrich people’s lives.
• Environmental Analysis: Apple conducts thorough environmental analyses, considering technological trends, market demands, and competitive landscapes. This includes staying at the forefront of cutting-edge technologies.
• SWOT Analysis: Apple evaluates its strengths, weaknesses, opportunities, and threats. For example, one of Apple’s strengths is its strong brand image, while a weakness might be dependence on a limited product line.
• Setting business Goals and Objectives: Apple sets specific, measurable, achievable, relevant, and time-bound (SMART) goals. This could include objectives like maintaining a certain market share, launching new products, or achieving specific financial targets.
• Strategies and Tactics: Apple develops strategies based on its goals. For instance, a strategic move might be expanding its ecosystem by integrating hardware, software, and services. Tactics could include aggressive marketing campaigns and product launches.
• Implementation and Execution: Apple’s strategic plans are meticulously executed. The launch of iconic products like the iPhone, iPad, and Mac series demonstrates effective implementation of their strategies.
• Monitoring and Adjusting: Apple constantly monitors its performance metrics, customer feedback, and market dynamics. If necessary, adjustments are made to the strategic plan to stay responsive to changing conditions.

2) Tesla Strategic Plan Process

• Vision and Mission: Tesla’s strategic planning revolves around its mission to accelerate the world’s transition to sustainable energy. The vision includes producing electric vehicles and renewable energy solutions.
• Market Analysis: Tesla analyzes global markets for electric vehicles, renewable energy, and energy storage. This involves understanding regulatory environments, consumer behaviours, and technological advancements.
• Risk Assessment: Tesla conducts risk assessments related to manufacturing, supply chain, and market volatility. For instance, it considers risks associated with battery production and global economic conditions.
• Setting Bold Objectives: Tesla is known for setting ambitious objectives, such as achieving mass-market electric vehicle adoption and establishing a robust network of charging stations worldwide.
• Innovative Strategies: Tesla’s strategic planning involves innovation in technology and business models . For instance, the “Gigafactories” for mass production of batteries and the “Autopilot” feature in vehicles reflect innovative strategies.
• Agile Adaptation: Due to the rapidly changing automotive and energy sectors, Tesla maintains an agile approach. The company adapts its plans swiftly to capitalize on emerging opportunities, as seen in the expansion of its energy products.
• Continuous Improvement: Tesla places emphasis on continuous improvement. The iterative development of electric vehicle models, software updates, and advancements in battery technology showcase a commitment to refinement.

These examples demonstrate how strategic planning is a dynamic and integral part of the business processes of leading companies. They highlight the importance of a well-defined vision, rigorous analysis, adaptability, and innovation in the strategic planning process.

Tactical vs. Strategic Planning Process

An easy way to distinguish your company’s Tactical Planning from your Strategic Planning is to separate your wants from your HOWs.

In your Strategic Planning, you identify what you WANT for the company. These are big-picture dreams (achievable, but big ) that are your definition of success. In your Tactical Planning, you identify the HOW for reaching those dreams, including the smaller necessary steps.

Each kind of planning is vital for securing the organization’s future, but they require different sorts of attention and philosophy, and teams that are good at planning one way may not necessarily be good at the other kind of planning.

Strategic Planning vs. Your Business Purpose

Your Strategic Planning Process will of course be deeply connected to your Business Purpose .

We like to think of Business Purpose in broad terms, choosing especially to think of a business’s role in massive transformation. Embedded within a Business Purpose is the Business Plan that directs operations and how a company delivers value to its customers.

What is the relationship between your Strategic Planning and your Business Purpose ? One feeds into the other. Your Business Purpose must point to a larger impact you’ll have on the people who purchase your goods and services, and your Strategic Planning takes into account how you’ll grow and expand that Purpose as you reach more customers more successfully.

Strategic Planning vs Business Planning

Strategic planning and business planning are two distinct processes that are often used interchangeably, but they have some key differences.

Strategic planning is a top-level process that focuses on determining the direction of an organization over the long term. It involves setting goals, determining the key resources and actions necessary to achieve those goals, and allocating those resources in a way that best serves the organization’s future. The outcome of strategic planning is typically a long-term strategic plan that outlines the organization’s vision, mission, values, and objectives.

Business planning , on the other hand, is a more tactical process that focuses on the implementation of specific initiatives and projects to support the organization’s long-term goals. Business plans typically outline the steps necessary to launch a new product, enter a new market, or achieve a specific objective. They may also include budgets, marketing plans, and other operational details.

In short, strategic planning is about setting the direction for an organization, while business planning is about implementing specific initiatives to support that direction. Both processes are important for the success of an organization and should be used in conjunction to ensure that resources are allocated effectively and that the organization is moving in the right direction.

Why is Strategic Planning Important?

Imagine this scenario: A warehouse full of goods sits, unsold and unmoved. A collection of brilliant people languishes at desks all day. Outside, the world spins and changes. It’s ready for what these people could do, can do, and yet nothing happens. Needs remain unmet. Progress is halted. Everyday life takes several backwards steps. This is what your business will look like without proper Strategic Planning.

Strategic Planning forces you to consider your Strategic Objectives and critically compare them to the resources you have available. As you continuously evaluate the circumstances of your business and your customers, your Strategic Plan evolves to match your goals and business capabilities.

The process involved pushes decision-makers to practice Strategic Thinking . It limits wasteful spending, especially when upper-level managers are willing to forgo pet projects in favor of operations with a broader use and appeal.

Strategic Planning is important because it directs your resources to efficiently meet your overall Business Goals . Without Strategic Planning, you are likely to waste resources, make conflicting decisions, or fail to grow your business to its greatest potential.

When Do You Create a Strategic Plan?

Most businesses find value in reviewing their Strategic Plan every three years. This allows enough time to pass that you can evaluate the success of previous plans, reflect on the achievement of your Strategic Goals, consider developments outside your organization that affect your business, and begin formulating new goals that will become the next version of your plans.

When businesses first begin, they often have too many fires burning at once. They remain focused on existing today rather than planning for tomorrow. Most entrepreneurs remember those stressful early days of starting their businesses and can understand why formalities like Strategic Plans can fall by the wayside. We believe if your business lasts longer than a year it’s important to develop a plan for the future. Think of Strategic Planning as a celebration of a first anniversary—a sign that you’re poised to continue moving forward for years to come.

However, Strategic Planning is not a one-off event that is over once the cookies are all gone and the room clears. Your Strategic Planning team should meet regularly to measure how effective the plans are at helping you reach your Strategic Goals . Ad hoc subcommittees can play a role in gathering evidence to ensure that your plans remain appropriate, especially if conditions change.

For example, we recommended a close review of Strategic Plans and Strategic Goals once the COVID-19 pandemic made it clear that business was going to be affected at least short- to mid-term. We continue to recommend teams regularly revisit their Strategic Plans with global circumstances in mind to recognize opportunities and prepare for challenges.

The Benefits of Strategic Planning

As we’ve mentioned, there are many benefits of Strategic Planning . Some of those benefits include:

• Shared sense of power and importance
• United direction
• Clear path and purpose for decision-making and operations
• Boosted operational effectiveness
• Responsible, efficient use of available resources
• Meaningful work done on a daily basis
• Tracking of progress
• Ability to adjust to changing circumstances

What is a business without Strategic Planning? In most cases, it’s not much, nor is it long for the world. While it’s possible to accidentally find success without much planning, most successful businesses are a result of careful thought mixed with the urge to pounce on the opportunity.

What prepares you to pounce?

Your Strategic Planning and the processes that make it possible.

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How to Set Strategic Planning Goals

• 29 Oct 2020

In an ever-changing business world, it’s imperative to have strategic goals and a plan to guide organizational efforts. Yet, crafting strategic goals can be a daunting task. How do you decide which goals are vital to your company? Which ones are actionable and measurable? Which goals to prioritize?

To help you answer these questions, here’s a breakdown of what strategic planning is, what characterizes strategic goals, and how to select organizational goals to pursue.

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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, and ensure organizational goals are backed by data and sound reasoning.

Research in the Harvard Business Review cautions against getting locked into your strategic plan and forgetting that strategy involves inherent risk and discomfort. A good strategic plan evolves and shifts as opportunities and threats arise.

“Most people think of strategy as an event, but that’s not the way the world works,” says Harvard Business School Professor Clayton Christensen in the online course Disruptive Strategy . “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."

Related: 5 Tips for Formulating a Successful Strategy

4 Characteristics of Strategic Goals

To craft a strategic plan for your organization, you first need to determine the goals you’re trying to reach. Strategic goals are an organization’s measurable objectives that are indicative of its long-term vision.

Here are four characteristics of strategic goals to keep in mind when setting them for your organization.

1. Purpose-Driven

The starting point for crafting strategic goals is asking yourself what your company’s purpose and values are . What are you striving for, and why is it important to set these objectives? Let the answers to these questions guide the development of your organization’s strategic goals.

“You don’t have to leave your values at the door when you come to work,” says HBS Professor Rebecca Henderson in the online course Sustainable Business Strategy .

Henderson, whose work focuses on reimagining capitalism for a just and sustainable world, also explains that leading with purpose can drive business performance.

“Adopting a purpose will not hurt your performance if you do it authentically and well,” Henderson says in a lecture streamed via Facebook Live . “If you’re able to link your purpose to the strategic vision of the company in a way that really gets people aligned and facing in the right direction, then you have the possibility of outperforming your competitors.”

Related: 5 Examples of Successful Sustainability Initiatives

2. Long-Term and Forward-Focused

While strategic goals are the long-term objectives of your organization, operational goals are the daily milestones that need to be reached to achieve them. When setting strategic goals, think of your company’s values and long-term vision, and ensure you’re not confusing strategic and operational goals.

For instance, your organization’s goal could be to create a new marketing strategy; however, this is an operational goal in service of a long-term vision. The strategic goal, in this case, could be breaking into a new market segment, to which the creation of a new marketing strategy would contribute.

Keep a forward-focused vision to ensure you’re setting challenging objectives that can have a lasting impact on your organization.

3. Actionable

Strong strategic goals are not only long-term and forward-focused—they’re actionable. If there aren’t operational goals that your team can complete to reach the strategic goal, your organization is better off spending time and resources elsewhere.

When formulating strategic goals, think about the operational goals that fall under them. Do they make up an action plan your team can take to achieve your organization’s objective? If so, the goal could be a worthwhile endeavor for your business.

4. Measurable

When crafting strategic goals, it’s important to define how progress and success will be measured.

According to the online course Strategy Execution , an effective tool you can use to create measurable goals is a balanced scorecard —a tool to help you track and measure non-financial variables.

“The balanced scorecard combines the traditional financial perspective with additional perspectives that focus on customers, internal business processes, and learning and development,” says HBS Professor Robert Simons in the online course Strategy Execution . “These additional perspectives help businesses measure all the activities essential to creating value.”

The four perspectives are:

• Internal business processes
• Learning and growth

The most important element of a balanced scorecard is its alignment with your business strategy.

“Ask yourself,” Simons says, “‘If I picked up a scorecard and examined the measures on it, could I infer what the business's strategy was? If you've designed measures well, the answer should be yes.”

Related: A Manager’s Guide to Successful Strategy Implementation

Strategic Goal Examples

Whatever your business goals and objectives , they must have all four of the characteristics listed above.

For instance, the goal “become a household name” is valid but vague. Consider the intended timeframe to reach this goal and how you’ll operationally define “a household name.” The method of obtaining data must also be taken into account.

An appropriate revision to the original goal could be: “Increase brand recognition by 80 percent among surveyed Americans by 2030.” By setting a more specific goal, you can better equip your organization to reach it and ensure that employees and shareholders have a clear definition of success and how it will be measured.

If your organization is focused on becoming more sustainable and eco-conscious, you may need to assess your strategic goals. For example, you may have a goal of becoming a carbon neutral company, but without defining a realistic timeline and baseline for this initiative, the probability of failure is much higher.

A stronger goal might be: “Implement a comprehensive carbon neutrality strategy by 2030.” From there, you can determine the operational goals that will make this strategic goal possible.

No matter what goal you choose to pursue, it’s important to avoid those that lack clarity, detail, specific targets or timeframes, or clear parameters for success. Without these specific elements in place, you’ll have a difficult time making your goals actionable and measurable.

Prioritizing Strategic Goals

Once you’ve identified several strategic goals, determine which are worth pursuing. This can be a lengthy process, especially if other decision-makers have differing priorities and opinions.

To set the stage, ensure everyone is aware of the purpose behind each strategic goal. This calls back to Henderson’s point that employees’ alignment on purpose can set your organization up to outperform its competitors.

Calculate Anticipated ROI

Next, calculate the estimated return on investment (ROI) of the operational goals tied to each strategic objective. For example, if the strategic goal is “reach carbon-neutral status by 2030,” you need to break that down into actionable sub-tasks—such as “determine how much CO2 our company produces each year” and “craft a marketing and public relations strategy”—and calculate the expected cost and return for each.

The ROI formula is typically written as:

ROI = (Net Profit / Cost of Investment) x 100

In project management, the formula uses slightly different terms:

ROI = [(Financial Value - Project Cost) / Project Cost] x 100

An estimate can be a valuable piece of information when deciding which goals to pursue. Although not all strategic goals need to yield a high return on investment, it’s in your best interest to calculate each objective's anticipated ROI so you can compare them.

Consider Current Events

Finally, when deciding which strategic goal to prioritize, the importance of the present moment can’t be overlooked. What’s happening in the world that could impact the timeliness of each goal?

For example, the coronavirus (COVID-19) pandemic and the ever-intensifying climate change crisis have impacted many organizations’ strategic goals in 2020. Often, the goals that are timely and pressing are those that earn priority.

Learn to Plan Strategic Goals

As you set and prioritize strategic goals, remember that your strategy should always be evolving. As circumstances and challenges shift, so must your organizational strategy.

If you lead with purpose, a measurable and actionable vision, and an awareness of current events, you can set strategic goals worth striving for.

Do you want to learn more about strategic planning? Explore our online strategy courses and download our free flowchart to determine which is right for you and your goals.

This post was updated on November 16, 2023. It was originally published on October 29, 2020.

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What is strategic planning

Imagine you're ready to expand your thriving business to another market. Would you choose that market based on where you'd like to vacation, or just ask ChatGPT to decide for you? That wouldn’t be strategic, and it could backfire. The smart business move would be to assess risks, opportunities, regulations, competition, and the local business landscape—then use your analysis to plan your next move.

For businesses, strategic planning can make all the difference between expanding market share and closing up shop. Read on to find out how to excel at strategic planning.

What is strategic planning?

Whether your organization is a startup or established business charting the way forward, a strategic plan is a vital tool for success—and you can lead the charge. Strategic planning is the process of putting your best business theories to the test in the marketplace. Your strategic planning process starts with defining a mission/vision statement and setting key goals. To achieve those goals, you create a detailed plan, or strategy map .

Once you put that strategic plan into motion, you're no longer just reacting to market forces. You're proactive, blazing your own trail to your desired destination. There’s no better way to ensure that decisions are evidence-based, forward-looking, collaborative, and aligned with your entire organization’s long-term objectives.

Think of your business as an orchestra. No matter how skilled your musicians are, if they all play a different tune, you won't like what you hear. Wouldn’t you rather start out with sheet music and a brilliant conductor? An organization can make decisions without a strategic plan in place, just like an orchestra can play without a conductor. But when individuals or departments make decisions based on opinion, guesswork, or instinct, you can end up with disorganized, inefficient use of time and resources—and that’s not music to anyone’s ears.

How is strategic planning different from other plans?

Roger Martin, one of the world’s leading thinkers on strategy, cautions that “a plan is not a strategy.” A plan is comfortable because you control the levers, like time and costs. But strategic planning challenges you to put strategy to the test, making “an integrative set of choices that positions you on a playing field of your choice in a way that you win .”

Benefits of strategic planning

A strategic plan can be a competitive advantage. Harvard Business Review found that up to 67% of HR and IT departments have strategies of their own that don’t align with the larger corporate strategy. The bad news gets worse: 95% of employees don’t understand their organization’s strategy. Clear, effectively communicated strategic plans position organizations to outperform competitors struggling to articulate cohesive strategies to their employees.

With a strategic plan, you can help your organization to:

• Communicate priorities to employees at all levels
• Allocate resources appropriately to meet goals
• Track progress objectively
• Make clear decisions more efficiently
• Avoid mistakes caused by short-term thinking

3 strategic planning best practices

• Consider it a learning process. Creating strategic plans teaches teams to think more strategically, preparing decision-makers to make choices rationally under pressure.
• Make comprehensive plans. Research shows a thorough, comprehensive planning process yields strong results. Consider a variety of viewpoints and multiple options before setting your strategic objectives.
• Conduct regular updates. The most successful organizations are nimble, making wise strategic decisions in real time as circumstances change. Revisiting plans frequently with key decision-makers helps keep your strategy relevant and responsive.

Who belongs on strategic planning teams?

Strategic planning teams tackle key responsibilities: defining company mission/vision statements, setting goals, identifying opportunities, evaluating risks, and plotting a course to meet objectives. To achieve this ambitious agenda,  your team should cover a broad spectrum of viewpoints and roles, including:

• VPs and C-suite executives who must be consulted, according to your RACI matrix
• Representatives from various departments, team leads, and department heads who are responsible or accountable for outcomes
• Other key stakeholders to keep informed, such as board members or investors

Not sure who your key stakeholders are? Check out the FigJam stakeholder analysis template to identify valuable collaborators right from the start, but make sure the group doesn’t get too big. Large groups can get bogged down in strategic planning discussions.

Strategic planning in 5 steps

Your organization's strategic planning process may take slightly different steps depending on its size and needs, but most organizations follow these five basic steps.

1. Define the organization's mission, vision, and values .

These elements of strategic planning inform all of your objectives and the overall direction of the business strategy from here on out. What does your organization intend to do? What does it stand for, and why?

2. Conduct a situational analysis.

SWOT analysis is a time-tested tool to assess the opportunities and risks your organization faces. Cover internal and external factors, including your resources, competition, and changes in the market.

3. Set goals and objectives .

Pinpoint what you want to achieve, then set realistic and achievable targets. You  could focus on  specific objectives  (“reduce customer acquisition costs by 5% next quarter”) or address broader strategic goals (“increase customer satisfaction” ) . Articulate goals and objectives clearly , and define your measurements for success.

4. Develop and launch your action plan .

Outline the steps to take, and break down steps into tasks. Then decide who is responsible for each task, and when each task needs to be completed. With every decision, aim to minimize risk and maximize opportunity to achieve your goal.

To get your strategic plan on track for success, communicate the plan to everyone in the organization. You may want to launch your plan at an all-hands meeting, or break it up into meetings with separate departments.

5. Evaluate the results.

Establish a timeline of regular assessments to check  plan progres. Assign responsibilities to monitor and assess outcomes, and make course corrections as needed.

Pro tips and tools for strategic planning

The strategic planning process involves gathering data, documents, and team input to define timelines with multiple steps and dependencies. Figma's makes this complex process easier with these collaborative strategic planning tools:

• Balanced scorecard. Organizations as diverse as Chrysler and the U.S. Army use the  Balanced Scorecard to take performance to the next level. A Balanced Scorecard assigns weighted values to various options to remove bias from decision-making, guide plan implementation, and help you communicate your strategy clearly.
• SWOT analysis . Identify your company's strengths, weaknesses, opportunities, and threats with a SWOT analysis . This tool offers a comprehensive, objective overview of company  resources and its internal and external working environment. You’ll draw on the data you collect during your SWOT analysis many times during your strategic planning process.
• KPI tracking dashboard. Key performance indicators (KPIs) quantify success measurements and establish the timeline for achieving specific financial, strategic, or operational milestones. A shared KPI dashboard template will get your KPI tracking system up and running fast, boosting visibility and collaboration.
• RACI matrix. Identify all the key stakeholders on your strategic plan and group them according to their level of involvement: R esponsible, A ccountable, C onsulted, and I nformed. Figma’s RACI template can get you started quickly.
• Gantt chart . To capture your strategic plan timeline and steps at a glance, try a Gantt chart . This bar chart highlights start dates, deadlines, resource allocations, assignments, and other key planning elements. Use a Gantt chart to sequence tasks and show your team exactly which steps need to be completed when.

Strategize for success with Figma

The keys to strategic planning are collaboration, effective teamwork, and comprehensive information-gathering—and Figma has you covered with online collaboration tools . Figma's easy, engaging strategic plan template   gets your team started with tools for brainstorming, diagramming, and sharing data and feedback—all in one space.

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Keep reading

Strategic planning process in 6 steps

Every business needs a great strategic plan to achieve their long term goals.

What is a strategy map

A strategy map is a visual representation of how a company can achieve their long-term goals and objectives.

Strategic vs. tactical planning

While strategic planning involves big-picture thinking, tactical planning covers the nitty-gritty of turning strategy into action.

The what, why and how of strategic planning

by ArchPoint | Jun 28, 2019 | Strategy & OGSM

What is strategic planning?

Some call it “goal setting.” Others call it “business planning.” Labels for strategic planning are as varied as there are types of organizations. Regardless of what it’s called, we find most companies undertake some form of strategy work. Leaders assemble annually to discuss the good and the bad and decide organizationally what needs to be changed, stopped or started. They set goals and create a vision for the future. But the work shouldn’t stop here.

Good planning requires going a step further by actually putting a plan in place to deliver the future. Your vision may be crystal clear in your mind but for your people, that vision must be translated into an actionable, executable plan so they know how they contribute to making that vision a reality.

Growth and progress do not come to those who do not create plans to achieve growth and progress.

What is a strategic plan?

Most companies have a strategy, even if it is short term. But most companies do not have an executable strategic plan . If there’s one thing ArchPoint believes with passion, it’s that organizations must have a clear vision of their desired future and the steps to achieve that future. Otherwise, they risk churning at the same performance level or worse, declining.

A strategic plan includes five main elements:

• A well-thought-out statement of what the company wants to be in the next 3 – 5 years.
• A set of financial goals that keep the organization grounded in reality.
• Prioritized strategic choices to achieve the future vision of the organization.
• Applicable measures for each of the strategic choices to be able to gauge success.
• Detailed action plans for the next 6 – 12 months that define owners, activities and deadlines.

If strategy is the destination, a strategic plan is the map.

Why strategic planning is important.

Given that a strategic plan is the map by which an organization achieves its goals, planning is crucial. Daily priorities often overtake long-term initiatives – and these longer-term, important items can get lost.

Planning is also important to prevent an organization from meandering aimlessly toward the future. You may reach your desired destination, but how long will it take? And how much time and energy will have been wasted trying to manage and work through the ambiguity? Strategic planning is important because it harmonizes roles, functions and activities so companies can efficiently move in the same direction to reach their desired destination.

Your employees need strategic planning. People are required to bring strategy to life daily. Your people must know the strategy, understand the plan to reach it and know how their work contributes. Leaders can take for granted that because they know the strategy, the organization will inherently know how to deliver the strategy.

Even if leaders do share and discuss the strategy, it doesn’t mean that people are aligned.

The benefits of strategic planning.

Strategic planning brings focus among competing priorities and aligns organizations. It brings people together to discuss and wrestle with what and how to prioritize, allows for the opportunity to consider solutions to business issues and creates a unified vision for the company to communicate and share.

“You can survive without strategic planning, but you miss cohesion and discretionary effort. You don’t win the hearts of your employees when you expect them to do their job without knowing the bigger picture. Without being fully engaged, they will treat work as a job and not a career – a means to earn money versus a means to build something collectively,” says Amy Lazarus, ArchPoint Managing Director, USA.

If you asked your employees right now what your top 5 priorities are, could they tell you?

Below are just some of the benefits of strategic planning:

• Maintain focus on priorities. By integrating the strategic work into the daily activities, the strategic priorities won’t feel like an additional burden to the organization. The goal is to weave the two together.
• Enhance accountability. Creating ownership of the strategic plan throughout the organization is a win-win for the company’s leadership and its employees.
• Provide a means to track and measure performance. A strategic plan should connect measures of the organization to the teams responsible for carrying out the initiatives.
• Drive collaboration and discussion. The strategic plan is not set in stone but should be the foundation for strategic dialogue to stay competitive with changing external and internal conditions.
• Set direction and align your team. Good strategic plans bring the organization together and drive every level toward a common objective.
• Increase execution of long-term strategic growth. The first step is creating the plan but ultimately a well laid plan with detailed workplans leads to future growth and competitiveness of the organization.

Creating a strategic management routine

For a strategic plan to remain fresh and the organization agile, leaders must make strategy a key part of how they manage. By doing this, you maintain a balance between executing the plan and the inevitable changes that will need to be made. A strategic plan is not static, but something an organization can and should adjust based on changes in the marketplace and within the company. It is a benchmark that allows the company to self-assess and then adjust the plan to ensure its success.

Course corrections will be necessary, and so will a regular review of the strategic plan and progress. Companies that are truly successful in strategy implement a consistent management routine and review plans on at least a quarterly basis. Having a plan doesn’t remove your ability to adjust, instead it grounds the organization, and helps you pivot in the right direction.

How successful companies do strategy

Think of the company who is the most successful when it comes to strategy. What makes them the best? “Employee buy-in and involvement,” says Lazarus. “One client in particular is a great example – they started our method of strategic planning, OGSM , with the leadership team. Once they gained buy-in at that level, they rolled out the planning process to other levels and divisions. They also created a multi-year plan ensuring the strategic priorities and choices were understood at the executive level before sharing it further. It wasn’t forced, it evolved year over year as the organization acclimated to the structure.”

For Stephen Peele, ArchPoint Senior Partner for Strategy, what successful companies do differently is focus. “Companies that are successful concentrate on the key priorities – what’s really going to move the needle. They also have the ability to reconcile priorities across the business and utilize a dashboard to keep people focused.” Successful companies also walk the talk and execute their strategy in alignment with their commitments. Through process discipline and a sound management routine, what is agreed upon in a planning session is followed through to execution. Nothing motivates excellence more than delivering on commitments.

Strategic planning is only the beginning. The real work comes in bringing the strategy to life through the organization.

How to write a strategic plan.

The strategic framework that we have found to work best in developing, aligning and deploying strategy is OGSM (Objectives, Goals, Strategy & Metrics) . OGSM provides a direct line of sight to the overarching business goals and strategies of the enterprise. It turns something incredibly complex into simple words, numbers and actions that can easily be communicated throughout the organization. There are four main steps to writing an OGSM.

• Assess the current state of the business. An objective, honest assessment of where the organization is today is crucial to the success of strategic planning efforts.
• Define the future state of the business. Once a clear picture of where the business is today is established, the organization’s definition of future success should be agreed upon by the leadership team.
• Develop and prioritize the work. Once current state and desired future state are defined, leadership directs its efforts to the critical choices needed to deliver the future state through a strategic plan.
• Align, execute and manage the strategic plan. The plan must be indoctrinated into the daily activities of an organization for it to be successful. Strategic activity management is also necessary to ensure alignment endures.

In ArchPoint’s OGSM Whitepaper we clearly outline the detailed process for developing an OGSM . Or check out other alternatives for strategic frameworks here.

Regardless of the framework you choose, every strategic plan should answer these questions.

How to test your strategic plan

For a quick strategy self-check, answer the questions below to see if your organization is on track for strategic success .

• Is your strategy in line with how your organization plans to grow? These two elements must not compete – work done in support of strategic execution must also support the means in which the company experiences growth.
• Are your financial goals connected to your strategy? If one of your financial goals is to increase market share, there should be strategic work devoted toward this goal.
• Are your priorities reasonable? Often resources committed to one priority are the same that are needed for another, so if your organization cannot logistically achieve the priorities currently set, you may need to scale back and reconsider your choices.
• Do you currently have or plan to build the capabilities needed to achieve your strategy? You cannot become the innovation leader in your market if you do not have the skill sets and resources required. Acquiring and/or building capabilities must be considered if the strategy requires it – or the strategy may need to be altered.
• Do you have a mechanism for maintaining focus and tracking strategy execution? Your people need a way to keep tasks on track – and they need one person assigned to oversight. Both a means to track strategic activity and a leader who manages it is fundamental to success.
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Business Jargons

A Business Encyclopedia

Strategic Planning

Definition : Strategic Planning can be understood as a systematic long-range planning activity, that an organization uses to fix priorities, strengthen operations, ascertain objectives and focus on the resources required and are to be allocated in order to pursue the strategy and attain the objectives.

It is a part of the strategic management process , which ensures that every aspect of the organization is working towards the achievement of the organization’s goals, i.e. in the right and intended direction.

Strategic Planning ascertains what an organization is, to whom it serves, where is it going and what are the paths, which are to be followed to follow its vision. It includes strategic decision making, strategic intent , strategic management model and strategy formulation .

Characteristics of Strategic Planning

• Strategic Planning is an analytical process which formulates strategic and operational plans for the organization. The implementation of strategic plans is possible through projects, whereas various units or divisions of the firm implement operational plans.
• It performs SWOT Analysis , i.e. during the planning process, the firm’s strengths, weaknesses, opportunities and threats are taken into consideration.
• It is a forward-looking activity wherein the future opportunities and threats are ascertained while considering its profitability, market share, product and competition.
• It presupposes that a firm should always be ready to adapt itself according to the dynamic business environment. For this purpose alternative strategies are developed for different circumstances, i.e. from best to worst, for the future
• It can be done for the entire organization or to a specific business unit .
• It is helpful in selecting the best strategy , among the various strategies taking into account the firm’s interest, personal values and corporate social responsibility.
• It acts as a guide to the executive to reduce the risk involved in the business and also to take the best possible advantage of the opportunities. So, in this way, it contributes to the success of the enterprise.

Strategic Planning is a logical effort, that envisions the desired future, by producing various alternative actions and decisions, to formulate an effective strategy, that brings success to the organisation. It helps in analysing and adjusting the organisation’s efforts as a whole, according to the changing business environment.

Strategic Planning Stages

• Generation of Strategic Alternatives : In this step, the firm seeks a number of strategic alternatives in the light of the firm’s business, industry and competition. These strategies may be acquisition and expansion, focusing on core competencies, increase in the market share, etc.
• Will it improve the firm’s position or market share?
• Will it increase existing strengths?
• Will it bring new opportunities?
• Will it maximise shareholder’s wealth?
• Selection of Strategy : The optimum strategy is selected at this stage, among various alternative strategies.

Both internal and external analysis of the firm is performed during the exercise; wherein internal analysis entails an evaluation of financial performance, operational limitations, current market position/share corporate culture, strengths and weaknesses.

On the other hand, external analysis concentrates on the analysis of competition, trends, changing business environment, opportunities and threats, latest technology and so forth.

Related terms:

• Strategic Human Resource Management
• Strategic Human Resource Management Process
• Strategic Alliance
• Strategic Intent
• Strategic Management

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What is strategic planning?

Strategic planning is the process businesses and organisations use to outline their long-term directions and objectives. Through the planning process, organisational leaders determine their overarching vision as well as specific long-term goals, and then map out a plan for achieving each milestone, such as how and when the milestones should be completed.

The outcome of strategic planning is called a strategic plan. This document typically includes:

• a vision statement outlining the organisation’s aspirations for its future and growth
• a mission statement, outlining the organisation’s purpose
• specific goals, objectives, and initiatives to help deliver the organisation’s vision and mission. These goals should be SMART (specific, measurable, achievable, relevant, and time-bound).
• an action plan outlining how each goal will be achieved, including resources, tactics, and dates
• Key Performance Indicators (KPIs) – quantifiable measurements and metrics used to gauge strategic, financial, and operational performance.

Once completed, a strategic plan should be shared across the business so teams can use it to inform short-term goals, such as specific projects and other actions and decisions, and help deliver on the wider strategic aims of the organisation. 

It’s also important for an organisation to continually review its strategic plan. Using information gleaned from its SMART goals, KPIs, and so on, businesses can evaluate the current trajectory of their strategic plan, and make adjustments and revisions – or even large changes – to help keep things on track and progressing on schedule.

The benefits of strategic planning

An effective strategic plan can bring a number of benefits to an organisation. For example, it can:

• create and maintain a competitive advantage
• support business decision-making
• identify new opportunities for growth

Steps in the strategic planning process

The strategic planning process can vary from organisation to organisation, but typically has five key steps.

When starting a successful planning process, the first step is assessing the organisation’s current strategic position. Relevant stakeholders can review key information, such as:

• Past strategic plans . Previous strategic plans – including their vision and mission statements – can provide a helpful roadmap for new strategy formulation. For example, they might inform the methodology used for setting new objectives, or can even act as templates for the new strategic plan document.
• Existing organisational data . This might include sales figures, finance and cash flow numbers, online engagement figures, reputational analyses, human resources data, and so on.
• The current external business environment . Available data might include reports on industry and market conditions, competitor analyses, emergent trends, and customer insight such as information about target client demographics.

This first step in the process also includes defining the organisation’s longer term vision. Whether the organisation is a new startup or a long-standing nonprofit, there needs to be a clear understanding about what the future state of the organisation looks like. These conversations should include all members of the senior leadership team alongside other key stakeholders, and together they should discuss topics such as:

• strategic issues
• organisational values
• ideas around a strategic framework and strategy execution

The second step in strategy development is setting and prioritising strategic goals. These organisational goals should all align with – and help deliver on – the vision outlined in the first planning step. They should also be prioritised according to their impact, relevance, importance, and urgency. The goal-setting process should also identify any necessary resource requirements, deadlines, and KPIs.

During the third step of the strategic management process, planners outline the steps and tactics required to deliver the business strategy. This development stage is one of the key elements of the process because it determines how the vision, mission, and business goals will be achieved.

During this stage:

• responsibilities are outlined
• short-term tactical plans are developed
• Strategy communications are shared more widely 

During the fourth stage of the strategic planning process, the strategic plan is implemented and managed. Executing the plan may include:

• communicating the plan to all staff and stakeholders
• Writing new policies and processes or amending existing ones 
• establishing systems for measurement and reporting
• assigning responsibilities

The final step towards delivering on strategic organisational goals is reviewing progress, and then revising the strategic plan as necessary. By measuring and evaluating the results of the plan in either real-time  or on a quarterly or annual basis –  organisations can adapt and optimise as needed. 

Strategic planning tools

There are a number of valuable tools for strategic planning. 

SWOT analysis

One of the most valuable tools for strategic planning, particularly in the first stage, is a SWOT analysis . A SWOT analysis is used to identify an organisation’s:

• opportunities

Completing a SWOT analysis allows planners to comprehensively assess an organisation’s current position and then plan the organisation’s goals accordingly.

Balanced scorecard

A balanced scorecard is a performance review tool that’s used to identify and improve strategic business activities. To create the scorecard, organisational data is gathered in four key areas:

• Business processes
• Learning and growth

This tool is especially helpful during the final review stage of the strategic planning process.

Strategy map

Strategy maps are tools used to help illustrate and visualise a strategic plan. They are particularly useful during the second and third steps of strategic planning – setting and prioritising goals, and developing tactics – because they help organisations easily identify gaps in their plans.

The difference between strategic planning, business planning, and operational planning

Business planning – as well as operational planning – are often confused with strategic planning.While closely linked, they are different processes with different purposes. 

Strategic planning considers long-term visions and goals, while business and operational planning are focused on day-to-day business activities that deliver on short-term goals. 

Shape the future of organisations

Lead strategic planning in the public or voluntary sector with the 100% online Master of Public Administration (MPA) at the University of York. This flexible MPA programme has been designed for professionals in public and non-profit organisations who want to make a positive impact on improving public service provision and public life.

One of the core modules on this flexible masters degree explores strategic planning. It will introduce you to the main themes, concepts, and practices of strategic planning and management. Students are given practical skills and opportunities to use the skills in work-based and case-study scenarios.  The module will also enable you to analyse and evaluate the strengths and weaknesses of strategic planning in the public and not-for-profit sectors.

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Strategic Human Resource Planning (SHRM): Guide to Human Resources & Management

Lucija Bakić

April 5, 2024

Strategic human resource planning (SHRM) is a proactive process that aligns human resource capabilities with long-term business goals.

In this guide, we’ll go through the basics of why this foward-thinking approach is so important for resource planning success . This includes its definition, the main steps, and best business practices. Key Takeaways

• Strategic HR management (SHRM) is a key step to ensuring that businesses are resilient and sustainable in the long run.
• Key steps of the process include: analyzing current capacity, forecasting needs, gap analysis, HR strategy implementation and monitoring.
• Many of the challenges of SHRM, such as resistance to change or tracking KPIs, can be addressed by implementing a modern ERP software solution .

What Is Strategic Human Resource Planning?

Strategic human resource planning is part of the broader human resource plan ning (HRP) strategy. This process targets long-term objectives, spanning from one to five years, and ensures that businesses have enough capacity to meet future needs. Strategic HR planning must be aligned with short-term resource planning, which handles daily concerns, such as employee schedules and workloads. Long-term strategies should also be aligned across departments, such as the finances or management, to ensure that initiatives contribute to shared organizational goals. See more : What Is Human Resource Planning ?

Why Businesses Need Strategic HRP

Some of the critical business questions that strategic HRP addresses can include:

• Will you have enough human resources for future needs?
• Which type of talent will you need (regarding skills, seniority, etc.)
• Which conflicts or gaps could appear in your business workflows ?
• Do you have contingency plans for various risk factors?

Additionally, it can cover broader concerns, such as the need for organizational flexibility or continuous improvement. As an ongoing process, strategic management provides the perfect answer for businesses to tackle and address complex issues.

5 Main Steps of the Strategic HR Planning Process

The four main steps of strategic HRM include analyzing current capacity, needs forecasting, gap analysis, and strategy development and implementation.

1. Analyzing Current Capacity

This step involves analyzing both internal and external business circumstances that are important for future demand. Internal factors usually include details about your current employees, including their productivity, specific skills, availability, and engagement levels. External factors encompass market trends, economic conditions, and industry-specific demands that could influence future resource requirements.

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2. Needs Forecasting

Accurate needs forecasting is one of the most challenging parts of the developing workforce plans . It involves predicting the skills, overall capacity, and roles needed to keep a business relevant during changing market conditions and technological advancements. Therefore, it requires a thorough understanding of your human capital and the industry. Needs forecasting includes:

• Supply forecasting: Assesses the current workforce and external labor market trends to identify whether there will be an excess or shortage of talent in the future.
• Demand forecasting: Focuses more on demand, i.e., quantifying future labor requirements to ensure that business goals will be met.

3. Gap Analysis

Gap analysis takes the first two steps of the human resource management process to pinpoint specific areas of improvement — it compares the current workforce capabilities with future needs to identify conflicts or discrepancies. For example, a retail chain looking to expand its online presence might consider its current capacity, and realize that it has enough technical roles to go into e-commerce. However, by conducting needs forecasting of the competitors, it may recognize the need for marketing professionals skilled in SEO or digital marketing to drive more of their customer base to their website.

4. Strategy Development

The next step involves developing specific strategies to address resource conflicts and help your business reach its goals. Some of these may include:

• Talent management strategies can be developed to address issues with workforce management. It can include processes such as recruiting, retaining, and developing employees.
• Employee engagement strategies are usually developed to tackle low morale and productivity. Organizational strategies might include improving collaboration, manager-to-employee feedback, or capacity building initiatives .
• Development programs are a specific part of talent management, aimed to address skill gaps through upskilling or reskilling employees. Strategies may include mentoring by senior employees, workshops, or other training opportunities.
• Succession planning is utilized to mitigate the risk of key positions becoming vacant unexpectedly. It usually involves identifying high-risk positions and then selecting and preparing potential employees to fill them in the future.

5. Implementation and Monitoring

To ensure that your strategies are effective across time, it’s necessary to closely monitor progress, usually by analyzing various key capacity performance indicators (KPIs). Setting desired targets can be a good way of determining if you’re on the right track — for example, an agency with low productivity might set its desired utilization rates at 80%.

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However, it’s equally important to keep in mind that some benefits of successful ERP can be difficult to quantify or determine in a short amount of time. This can include better workplace culture or increased employee satisfaction. See more: ERP benefits for businesses

Documenting Your Strategic HR Plan

The strategic HR document should include an outline of the organization’s human resource objectives, the strategies for achieving them, and the steps for implementation. Putting your initiatives into writing can help drive alignment across various teams and ensure that everything is progressing according to plan.

How and Where to Create Documentation?

According to research by Forrester, 97% of organizations have minimal or no digitally documented processes. While traditional documentation can be better than no documentation, consider the benefits of automating information gathering and sharing with ERP software solutions .

We used to have a project management tool, a time tracking tool, a support tool, a way we handled opportunities and sales-driven processes. Those were all separate tools that we had, and it wasn’t good. It also meant that all that data was being lost every time we switched between tools , or we had to find a way to normalize the data between them. And now, the fact that it’s all in one, it’s really a game changer.

BRYAN CASLER, VICE PRESIDENT OF DIGITAL STRATEGY AT 4SITE INTERACTIVE STUDIOS

For example, the resource and agency management tool Productive can help you automate the work scheduling process with its resource planning model template, provide real-time reporting on utilization rates, manage employee availability and time off, and more. Another great feature you can consider is collaborative documentation with AI content creation. This can help you keep all essential project data on a single platform.  

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Challenges & Best Practices for Strategic HRP

Some of the main challenges of strategic HRP include ensuring buy-in at all organizational levels, handling resistance to change, efficiently monitoring performance, and fostering continuous improvement.

Getting Business-Wide Buy-In

Organizational changes need to be effected from the top to the ground-level staff. Getting buy-in for new initiatives from leaders and other key stakeholders is essential to get the most out of your HRP initiatives. Silos can cause issues for adoption and cause miscommunications across teams, where one part of the company may not be aware of the changes or understand their role in implementation.

Overcoming Resistance to Change

According to Deloitte, some of the biggest roadblocks to new initiatives include resistance to change (82%) and inadequate sponsorship (72%). Both can be addressed with clear communication and transparency, so that all employees understand why and how initiatives are being implemented. Asigning change ambassadors within teams can facilitate a smoother transition. Learn more: Efficient resource management for multiple projects

Reviewing and Analyzing Progress

Good initiatives can stumble and fall if there’s no way to measure actual performance. Selecting the right key performance indicators and implementing a way to analyze them is important for the success of HRP initiatives. For example, a consulting firm that has issues with turnover might implement additional benefits or hire more staff to balance workloads — the KPIs to be monitored would be employee satisfaction, the utilization rate , and the attrition rate.

Productive can forecast KPIs for professional services agencies, like revenue and profit margins

Incremental Changes and Continuous Innovation

Another reason why monitoring KPIs is so important is that incremental but timely improvements are always better than extensive changes. Smaller adjustments allow businesses to remain flexible and agile to adapt to market demands and internal changes without causing disruptions.

The Role of Analytics & HRP Software

Finally, most, if not all challenges mentioned above can be streamlined with the right tools for resource planning and HR management. The benefits of using such tools include:

• Improved timeline estimation (60%)
• More effective use of resources (55%)
• Enhanced team communication (49%)
• More accurate metrics (38%)

There are many potential options on the market, but consider using a comprehensive software for your strategic planning. These types of solutions can give you a competitive advantage with benefits such as centralized workflows, unified data, and reduced costs for tech stacks.

Get the most out of your agency’s resources with Productive

As an all-in-one solution tailored to agencies of all shapes and sizes, Productive can help you manage both day-to-day resource management and create strategic plans. Key features include: resource allocation, employee performance management, real-time reporting, project budgeting, workflow automations, and much more. Learn more about Productive by booking a demo today.

What are the 4 HR strategies?

The 4 HR strategies include talent acquisition and retention, learning and development, performance management, and workforce planning and forecasting. Each strategy addresses a part of the human resource planning process and contributes to achieving organizational success.

What is strategic resource planning?

Strategic resource planning is a part of human resource management that examines the capacity and needs of your future workforce for sustainable business growth. It’s focused on ensuring that your business has the critical skills for meeting business goals over a long period of time.

What are the 5 steps in human resource planning?

The 5 main steps in human resource planning include: analyzing current HR availability, forecasting future needs, gap analysis, developing strategies for human resource management, and implementing and monitoring your initiatives.

What is SHRM and its importance?

SHRM or strategic human resources management is a forward-looking approach to managing human resources and aligning HR practices with organizational goals. It allows businesses to remain competitive, sustainable, and flexible in dynamic market conditions.

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• CLASS OF 2024: Vanderbilt helped Haley Bishop find her voice and rediscover her passion for running

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Apr 9, 2024, 12:47 PM

By Graham Hays

When she was in eighth grade, Haley Bishop noticed a teammate on her track team running in regular sneakers instead of the track-specific spikes that give competitive runners the grip necessary for maximum speed. Rather than thinking it a source of amusement, something to tease them about, she thought about the spikes on her feet—the spikes she was fortunate to take for granted. She told her parents it didn’t seem right, that someone needed to do something. All right, they challenged her. What was her plan?

From those humble origins was born We Set the Pace , a nonprofit organization that Bishop founded in middle school to encourage young people to “use their passion, discover their purpose, and use that knowledge to prepare for the future.” Spikes for the Soul, one of the organization’s earliest and ongoing initiatives, provides new and gently used track spikes to young runners in and around her native Fort Mill and Rock Hill, South Carolina, who are otherwise unable to afford them.

The first year, her organization raised enough in donations to buy seven pairs of spikes. Not so very long after distributing them, a coach told Bishop that one of the recipients had just won the county title.

Who says track and field is an individual sport?

Connectivity has always fascinated Bishop—the way people influence, inspire and interact with one another. At Vanderbilt, the communication studies major learned to find her own voice in life’s conversations.

She also found a community that supported her when the student-athlete qualified for the NCAA Outdoor Track and Field Championships, then endured the frustrations and uncertainty of a lengthy recovery from injury. Because like that county champion she helped to reach new heights, few who stand atop the podium get there without the support of people who cared enough to help them realize the dream.

From her family, with parents Heather and Quinset Bishop Sr. still her North Star, to Vanderbilt director of track and field Althea Thomas and assistant coach for sprints and hurdles Cameia Alexander, among a bevy of mentors, Bishop has her team.

“When you have other people who believe in you, it helps you start believing in yourself,” Bishop said. “I think all these years, with the village that I have around me, have really helped me grow into who I’m supposed to become.”

FINDING HER VOICE 

Her nonprofit efforts notwithstanding, Bishop arrived at college more comfortable observing communication from the back of the room than leading it. An “introverted extrovert,” as she described herself, she wanted to step beyond her comfort zone. In her first-year writing seminar, The Cold War Struggle to Free Soviet Jews, she quickly found a mentor in Shaul Kelner , associate professor of sociology and Jewish studies.

“He has been my absolute favorite professor,” Bishop said. “As a human being, he’s just such an amazing person, and he always made me feel seen and heard.”

The subject matter was entirely unfamiliar, nothing she had studied before. But Kelner drew her in—and drew out her thoughts. By the end of the semester, she and other students in the class organized a surprise show of gratitude over Zoom.

“I was very shy,” Bishop said. “When I didn’t want to raise my hand, he would call on me. He would foster that uncomfortable growth by calling on me because he knew that I had ideas to share, that I was just too scared to share them.”

SUPPORT THROUGH SHARING

No longer reserved, she’s now a podcasting aficionado eager to share her thoughts on matters both consequential and pleasantly mundane. For several years, she and a friend who lives in Rhode Island have hosted semi-regular episodes of the I’m Just Saying podcast, which they describe as “ramblings of our semi-chaotic adult-ish life.”

Soon, through her Immersion Vanderbilt project , she will launch a podcast called Just Because . Speaking with current and former college and professional athletes, mental health professionals and others, she hopes to engage in honest and open conversations about issues related to mental health.

“It’s geared toward collegiate athletes, but it’s really for everyone because everybody has these silent struggles,” Bishop said. “I found that, in my experience, to see people overcome those hard things just kind of gives you that reminder that it’s not impossible. It might seem impossible in the moment—I’ve been there, done that. But once you see other people saying the tunnel will end, you have to keep going.”

REDISCOVERING HER PASSION

The latest podcast project was partly inspired by a conversation with her younger brother. He marveled one night at how she seemingly “had it all together,” making life and success look almost effortless. She knew it was nothing of the sort.

Bishop was indeed an immediate success on the track at Vanderbilt, setting a school record in the 60 meters in her collegiate debut indoors and advancing to the NCAA East Regional in the 100 and 200 meters outdoors.

A year later, she qualified for the NCAA Outdoor Championships and became the first Commodore to score points in the 100 meter at the SEC Outdoor Championships (top individual finishers in each event earn points that count toward team totals).

Then, seemingly at the height of her ascent, she lost her junior year to injury.

Regaining physical health was grueling. She didn’t run competitively for a year and a half. But that process was no more exhausting than the mental challenge of losing such a big part of her identity. Physical and mental, it was akin to going through a dark tunnel and trying to find the light, as she put it. Coming out the other side, she found she still had reason to run.

“Being hurt and having time to sit out and really reflect about what I care about in life has really put track back at the forefront of my mind and has really brought my love back to track,” Bishop said. “I remember running on the track for the first time since I was hurt, and I was like, ‘This is just an experience unlike any other.’

“It really does kind of revitalize your love for the sport.”

That sport has shown her the power of a village, just as she demonstrates that one person’s voice can make a difference.

THREE QUESTIONS …

WHAT DOES DARE TO GROW MEAN TO YOU?

“Dare to grow means always challenging yourself and surrounding yourself with people who challenge you. I think the best friends are the people who challenge you to grow and become a better person. Don’t put yourself in super, super uncomfortable situations. Don’t do that. But if you’re a little uncomfortable, uncomfortableness really shows you how to grow. And I think that growing is the best thing that you can do for yourself. When you look back at how far you’ve come, you’re going to be like, ‘Wow, I never thought that I would be here.’ I think if high school Haley saw me today, she’d be like, ‘You’re so cool.’”

WHAT IS THE IMPORTANCE OF CAMARADERIE IN COLLEGE ATHLETICS?

“Being a student-athlete can be a lot sometimes, but I would say that the reward is just so great. You come into college with your teammates, who literally become family. All the girls on my team are like my sisters. I love them immensely. And you have such a great support system. It might be scary, and it might be a really big leap of faith, but you’ve just got to trust that it’s all going to work out and it’s all going to turn out amazing. I don’t think I would trade this experience for anything in the world.”

WHERE DID YOU FIND COMMUNITY ON CAMPUS OUTSIDE OF ATHLETICS?

“I am in a sorority, Delta Sigma Theta. I just crossed last spring, so that has been amazing. I grew up with all brothers, so I got 21 line sisters, which is just fantastic. I tell them all the time how grateful I am for them because I’ve always prayed for sisters. I tell them now I have 21 of them. That’s been a really great experience. Greek life has been really fun and rewarding and has helped me grow and allowed me to guide other people to help them grow too.”

“The Bishop Joseph Johnson Black Cultural Center has also been tremendously instrumental in finding community within the Black community on campus. I found some of my closest friends in that building!”

• Read and watch more stories from the Class of 2024
• Learn more about the communication studies major within the College of Arts and Science.
• Follow all the latest action from the Commodores track and field team .
• Watch a special story between Haley Bishop and her favorite professor Shaul Kelner.

Keep Reading

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Class of 2024: Jack Bulger’s life journey shapes him as a player and person

Rachael Perrotta honored as 2024 Outstanding Senior; nine other nominees celebrated

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