Build Your 2024 AI Transformation Roadmap 🚀

Sample strategic plans, strategy is more than simply achieving business goals. it creates clarity, alignment and organization-wide engagement. we’ve assembled a handful of sample strategic plans. some are from our clients. others are just examples. all of them reflect good general guidelines and structure, which can be incorporated into your own strategy design., for profit sample strategic plans, these sample plans are based on a fictional organization. the information for our business clients is confidential..

business strategic plan example

One-Page Strategic Plan

An easy-to-read, full-color overview to help everyone visualize the complete strategy.

business strategic plan example

Company Strategic Plan

A summary of your strategic plan with strategic objectives, goals and action items.

business strategic plan example

Department Strategic Plan

business strategic plan example

Company SWOT

An assessment of your organization’s strengths, weaknesses, opportunities and threats.

business strategic plan example

Department Action Plan

A quick-hit summary of progress against goals and action items. Great for use at strategy reviews.

business strategic plan example

Individual Action Plan

business strategic plan example

Team Member Performance Review

Use this action plan as a performance review sheet for periodic staff reviews.

Non-Profit Sample Strategic Plans

These sample plans are deliverables for north slope borough school district. this is public information and is shareable..

business strategic plan example

School One-Page Strategic Plan

business strategic plan example

School Full Strategic Plan

business strategic plan example

School Strategic Plan with Progress

business strategic plan example

Church Sample Strategic Plans

business strategic plan example

Church One-Page Strategic Plan

business strategic plan example

Church Full Strategic Plan

business strategic plan example

Church One-Click Strategic Plan

A comprehensive report from mission through action items & includes SWOT, scorecard, roadmap & budget.

business strategic plan example

Church Roadmap

A summary of high-level goals broken out by year according to the dates established during goal.

Keystone

Do you want to 2x your impact?

business strategic plan example

The Complete Guide to Writing a Strategic Plan

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

  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn

Link copied

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

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

The Basics of Writing a Strategic Plan

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

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

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

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

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

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

John Bryson

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

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

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

Bryson says that strong facilitators often ask the following questions:

What is the situation we find ourselves in?

What do we do?

How do we do it?

How do we link our purposes to our capabilities?

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

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

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

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

What do you want to do?

How are we going to do it?

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

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

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

Question 1: Where Are We Now?

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

Mission statement

Core values and guiding principles

Identification of competing organizations

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

Question 2: Where Are We Going?

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

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

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

The factors necessary for success

Question 3: How Do We Get There?

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

You should include the following sections:

Specific and measurable goals

An execution plan that identifies who manages and monitors the plan

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

What to Include in a Strategic Plan

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

Denise McNerney

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

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

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

Strategic Plan Architecture

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

Executive summary

Elevator pitch or company description

Vision statement

Industry analysis

Marketing plan

Operations plan

Financial projections

Evaluation methods

Signature page

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

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

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

Writing A Strategic Plan Section

‌ Download Strategic Plan Sections Checklist

How to Write a Strategic Plan

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

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

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

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

How to Write an Executive Summary

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

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

Jim Stockmal

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

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

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

One-page Executive Summary Template

Download One-Page Executive Summary Template

Excel | Word | PDF

How to Write a Company Description

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

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

Define what you are as a company.

Describe what the company does.

Identify your ideal client and customer.

Highlight what makes your company unique.

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

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

How to Write a Mission Statement

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

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

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

Mission statements should do the following:

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

Use specific and easy-to-understand language.

Be inspirational while remaining realistic.

Be short and succinct.

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

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

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

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

How to Write a Vision Statement

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

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

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

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

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

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

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

How will we interact with others as a company?

What is the culture of the business?

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

Vision statements should accomplish the following:

Be inspiring.

Focus on success.

Look at and project about five to 10 years ahead.

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

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

The Difference Between Mission and Vision Statements

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

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

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

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

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

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

How to Write Your Company’s Core Values

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

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

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

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

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

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

How to Write about Your Industry

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

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

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

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

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

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

How to Write Strategic Plan Goals and Objectives

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

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

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

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

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

How to Write Goals

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

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

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

Eliminate case backlog.

Lower production costs.

Increase total revenue.

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

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

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

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

How to Write Objectives

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

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

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

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

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

Approach three new possible clients each month.

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

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

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

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

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

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

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

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

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

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

How to Write Performance Indicators

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

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

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

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

Define how often you need to report results.

Every KPI must have some sort of measure.

List a measure and a time period.

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

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

Are you in control of the performance measure?

Does the performance measure support the strategic outcomes?

Is it feasible?

Is data available?

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

Is the data timely?

Is it cost-effective to collect that data?

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

Are your targets realistic and time-bound?

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

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

Communicating Your Strategic Plan

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

Stefan Hofmeyer

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

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

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

Hold a meeting to present the plan in person.

Highlight the plan in a company newsletter.

Include the plan in new employee onboarding.

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

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

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

Challenges in Writing a Strategic Plan

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

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

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

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

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

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

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

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

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

Writing Different Types of Strategic Plans

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

How to Write a Strategic Plan for a Nonprofit

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

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

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

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

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

Nonprofit Strategic Plan Template

Download Nonprofit Strategic Plan Template

Excel | Smartsheet

How to Write a Strategic Plan for a School

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

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

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

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

University Strategic Plan Outline Word Template

‌ ‌Download University Strategic Plan Outline – Word

How to Write a 5-Year Strategic Plan

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

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

How to Write a 3-Year Strategic Plan

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

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

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

How to Write a Departmental Strategic Plan

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

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

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

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

How to Write a Strategic Plan for a Project

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

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

How to Write a Personal Strategic Plan

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

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

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

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

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

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

Below is additional advice for personal strategic plans:

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

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

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

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

Improve Strategic Planning with Real-Time Work Management in Smartsheet

Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change. 

The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. 

When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

Discover why over 90% of Fortune 100 companies trust Smartsheet to get work done.

Examples of Strategic Plan

Examples of a Strategic Plan to Achieve Long-Term Growth

Team Ninety, Author at Work From Anywhere

This is a comprehensive guide on strategic planning for small to midsize companies.

If you want to:

  • Move your organization in the direction you intend for long-term success,
  • Implement your plan smoothly for greater growth,
  • Use a better platform for developing a truly effective strategic plan,

… then you’ll love this guide. Let’s get started.

What’s Covered in This Guide

Click on each to jump to that section.

What is Strategic Planning?

What does strategic planning mean, what is the goal of strategic planning.

  • What is Strategic Leadership?

4 Strategic Planning Strategies

The strategic planning process [11 steps], what does strategic planning involve.

  • How to Implement Your Strategic Plan

Examples of Strategic Plans

Get your strategic planning done on ninety.

Strategic planning is the process you use to:

  • Establish and document a clear direction for your organization.
  • Identify business goals and set priorities that create growth for your company.
  • Formulate a long-term plan of action designed to achieve these objectives.
  • Determine an internal system tracking and evaluating performance.

When organizations want to, they use a strategic plan to:

  • Strengthen their operation.
  • Focus on collective energy and resources.
  • Enable leaders, teams, and other stakeholders to work toward common goals.
  • Make agreements around desired results.
  • Refresh direction and prevail over a changing or challenging environment.

Thinking strategically helps companies take the right action for more success and better outcomes. Some even call it an art.

Strategic planning is one of three essential ways to pursue important objectives for your company. When tackling challenges and determining action plans, you can think strategically, tactically, or operationally. These three thought processes often work in concert to help you create a framework that achieves your desired objectives.

  • Strategic plans are designed for multilevel involvement throughout the entire organization. Leaders will look ahead to where they want to be in three, five, and ten years and develop a mission.
  • Tactical plans support strategic plans. They outline the specific responsibilities and functionalities at the department level so employees know how to do their part to make the strategic plan successful.
  • Operational plans focus on the highly detailed procedures, processes, and routine tasks that frontline employees must accomplish to achieve desired outcomes.

The goal of your strategic plan is to determine:

  • Where your company stands in relation to the current business environment. Understand how your business operates, how you create value, and how you differentiate from your competitors.
  • Where you want to take the business based on long-term objectives such as your company’s vision, mission, culture, values, and goals. Envision how you see the company five or ten years from now.
  • What you need to do to get there. You come away from your planning sessions with a roadmap that helps deliver on your strategic objectives. Determine better ways to enable and implement change, schedule deadlines, and structure goals, so they’re achievable.

The main purpose of your strategic plan is to create clearly defined goals for achieving the growth and success of your organization. These goals are connected to your organization’s mission and long-term vision.

What is Strategic Leadership? 

Strategic leadership is how you create, implement, and sustain your strategic plan, so your organization moves in the direction you intend for long-term success. This usually involves establishing ongoing practices and benchmarks, allocating resources, and providing leadership that supports your strategic mission and vision statement.

Strategic leadership, also known as strategy execution, can employ two different approaches:

  • A prescriptive approach is analytical and focuses on how strategies are created to account for risks and opportunities.
  • A descriptive approach is principle-driven and focuses on how strategies are implemented to account for risks and opportunities.

Most people agree that a strategic plan is only as good as the company’s ability to research, create, implement, evaluate, and adjust when needed. The benefits can be great when:

  • Your entire organization supports the plan.
  • Your business is set up to succeed.
  • Your employees are more likely to stay on track without being distracted or derailed.
  • You make better decisions based on metrics that facilitate course correction.
  • Everyone in your company is involved and invested in better outcomes.
  • Departments and teams are aligned across your company.
  • People are committed to learning and training.
  • Productivity increases, and performance improves.
  • Creativity is encouraged and rewarded.

What are the four main points of strategic planning? You engage in strategic thinking so you can create effective company goals that are:

Purpose-driven

Align your strategic plan with the company’s purpose and values as you understand them.

Actionable strategic goals are worth spending your time and resources on to reach organizational objectives.

It’s critical for you to track your strategy's progress and success, enabling your teams to take action and meet the goals more effectively.

Focused Long-term

A long-term focus distinguishes a strategic plan from operational goals, which involve daily activities and milestones required for success. When planning strategically, you’re looking ahead to the company’s future.

A strategic plan isn’t written in a day. Critical thinking evolves over several months. Those involved in the strategic planning are usually a team of leaders and employees from your company and possibly other stakeholders.

When should strategic planning be done?

You should plan strategically for start-ups and newer organizations from the start. But even if your company is more established, it’s not too late to start working on strategy.

Flexible timing that’s tailored to the needs of your organization is smart. Although the frequency of strategy sessions is up to you, many leaders use these milestones as a guide:

  • When the economy, your market, and industry trends change, or a global event occurs (like the onset of a pandemic).
  • Following a change in senior leadership.
  • Before a product launch or when a new division is added to your business.
  • After your company merges with another organization.
  • During a convenient time frame such as a quarterly and annual review.

Many organizations opt to schedule regular strategic reviews such as quarterly or annually. Especially when crafting a plan, your strategic planning team should meet regularly. They will often follow predetermined steps in the development of your long-term plan.

What are the 11 steps of strategic planning?

Identify your company’s strategic position in the marketplace. .

Gather market data and research information from both internal and external sources. You may want to conduct a comprehensive SWOT analysis to determine your company’s Strengths, Weaknesses, Opportunities, and Threats against success. Your strengths and weaknesses are directly related to your current competitive advantage within your industry. They are what you use to balance challenges to your success. They also influence the likelihood of increased market share in the future.

Define your unique vision and mission. 

What would success look like for you in three years? Five years? Ten years? Articulate that in a vision statement. How do you intend to realize your vision? That’s articulated in your mission statement. Formulating purpose-driven strategic goals articulates why your company does what it does. Your organizational values inform your mission and vision and connect them to specific objectives.

Determine your company’s value.

Many companies use financial forecasting for this purpose. A forecast can assign anticipated measurable results, return on investment (ROI), or profits and cost of investment.

Set your organizational direction.

Defining the impact you want to have and the time frame for achieving helps focus a too-broad or over-ambitious first draft. This way, your plan will have objectives that will have the most impact. 

Create specific strategic objectives.

Your strategic objectives identify the conditions for your success. For instance, they may cover:

  • Value: Increasing revenue and shareholder value, budgeting cost, allocating resources aligned with the strategic plan, forecasting profitability, and ensuring financial stability. 
  • Customer Experience: Identifying target audiences, solution-based products and services, value for the cost, better service, and increased market share.
  • Operational Efficiency: Streamlining internal processes, investing in research and development, total quality and performance priorities, reducing cost, and improving workplace safety.
  • Learning and Growth: Training leaders and teams to address change and sustain growth, improving employee productivity and retention, and building high-performing teams.

Set specific strategic initiatives.

Strategic initiatives are your company's actions to reach your strategic objectives, such as raising brand awareness, a commitment to product development, purpose-driven employee training, and more.

Develop cascading goals.

Cascading goals are like cascading messages : They filter your strategy throughout the company from top to bottom. The highest-level goals align with mid-level goals to individual goals employees must accomplish to achieve overall outcomes. This helps everyone see how their performance will influence overall success, which improves engagement and productivity.

Create alignment across the entire company.

The success of your strategy is directly impacted by your commitment to inform and engage your entire workforce in strategy implementation. This involves ensuring everyone is connected and working together to achieve your goals. Overall decision-making becomes easier and more aligned.

Consider strategy mapping.

A strategy map is an easy-to-understand diagram, graphic, or illustration that shows the logical, cause-and-effect relationship among various strategic objectives. They are used to quickly communicate how your organization creates value. It will help you communicate the details of your strategic plan better to people by tapping into their visual learning abilities.

Use metrics to measure performance.

When your strategy informs the creation of SMART organizational goals , benchmarks can be established and metrics can be assigned to evaluate performance within time frames. Key performance indicators (KPIs) align performance and productivity with long-term strategic objectives. 

Evaluate the performance of your plan regularly.

You write a strategic plan to improve your company’s overall performance. Evaluating your progress at regular intervals will tell you whether you’re on your way to achieving your objectives or whether your plan needs an adjustment.

Effective strategic planning involves creating a company culture of good communication and accountability. It involves creating and embracing the opportunity for positive change.

Consider these statistics:

  • In many companies, only 42% of leaders and 27% of employees have access to a strategic plan.
  • Even if they have access, 95% of employees do not understand their organization's strategy.
  • 5.2% of a strategy’s potential is lost to poor communication.
  • What leaders care about makes up at least 80% of the content of their communications. But those messages do not tap into around 80% of their employees’ primary motivators for putting extra energy into a change program.
  • 28% of leaders say one of the main reasons strategic initiatives succeed is the ability to attract skilled personnel; 25% say it’s good communication; 25% say it’s the ability to manage organizational change.

Here’s what you can do to embrace a culture of good communication and accountability:

Make your strategic plan visible. Talk about what's working and what isn't. People want to know where and how they fit into the organization and why their contribution is valuable. Even if they don't understand every element of the plan.

Build accountability. If you've agreed on a plan with clear objectives and priorities, your leaders have to take responsibility for what's in it. They must own the objectives and activities in your plan.

Create an environment for change. It’s much more difficult to implement a strategy if you think there will be no support or collaboration from your coworkers. Addressing their concerns will help build a culture that understands how to champion change.

Implementing Your Strategic Plan

  • 98% of leaders think strategy implementation takes more time than strategy formulation.
  • 61% of leaders acknowledge that their organizations often struggle to bridge the gap between strategy formulation and its day-to-day implementation.
  • 45% of leaders say ensuring employees take different actions or demonstrate different behaviors is the toughest implementation challenge; 37% of leaders say it’s gaining support across the whole organization.
  • 39% of leaders say one of the main reasons strategic plans succeed is skilled implementation.

The reality for so many is that it’s harder to implement a strategic plan than to craft one. Great strategic ideas and a clear direction are key to success, no matter what. But so is:

  • Turning strategic ideas into an easy-to-implement framework that enables meaningful managing, tracking, and adapting.  
  • Getting everyone in the organization on the same strategic page, from creation to execution.

When your plan is structured to support implementation, you're more likely to get it done.

What are examples of good strategic planning? There are lots of templates out there to help you create a plan document with pen and paper.

But Ninety has a better way.

The Vision planner is essentially a strategic planning template on Ninety’s cloud-based platform that allows you to:

  • Set goals, establish how you will meet them, and share them with those who need to know.
  • Gain visibility around your company values.
  • Create core values, a niche, and long-term goals that are accessible to everyone in your company.
  • Create a vision of the future that lets you know what needs to happen now.
  • Streamline and organize your processes.
  • Easily update and track changes.
  • Bring alignment to your entire organization.

And you can do all this with only two digitized pages.

In your Vision tool inside Ninety, you can easily access all the things that make strategic plans effective:

  • Executive Summary
  • Elevator Pitch
  • Mission Statement
  • Vision Statement
  • SWOT Analysis
  • Key Performance Indicators (KPIs)
  • Industry Analysis
  • Marketing Plan
  • Operations Plan
  • Financial Projections

Vision + Goals is also completely integrated with all other features on Ninety, such as Scorecards, 90-Day Goals, To-Dos, Issues, Roles & Responsibilities Chart, Meetings, One-on-Ones, and more:

  • Create a clear vision for each team.
  • Determine one- and three-year goals.
  • Reference past versions in a Vision archive.
  • Share your Vision with all teams, or keep it private.

Now that you’ve learned how to grow your company using strategic planning, it’s time to put your knowledge into practice:

Build your strategic plan on Ninety now.

Do you want more step-by-step guides on strategy, strategic planning, and creating actionable strategic plans?  Subscribe to our blog!

You might also like:

business strategic plan example

Is Team Health at the Forefront in Your Annual Planning Meeting?

Leadership • 7 Minute Read

Business Strategy Effective Steps

Explore 7 Business Strategy Types for Sustainable Growth

Productivity • 17 Minute Read

Reach Business Goals

Learn How to Make Rocks SMART to Hit Your Business Goals

Goals • 2 Minute Read

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

What is strategic planning? A 5-step guide

Julia Martins contributor headshot

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.

How to build an organizational strategy

Get our free ebook and learn how to bridge the gap between mission, strategic goals, and work at your organization.

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?

[inline illustration] Strategic plan elements (infographic)

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. 

Strategic Plan Template

Used 5,402 times

Do you require a Strategic Plan Template to address your issues before the caliber of your brand or company? This template from PandaDoc's selections could result in a profit, which would support the period's end financial estimates for your company.

e-Sign with PandaDoc

Image 1

Created by:

​ [Sender.FirstName] [Sender.LastName] ​ [Sender.Title] ​ [Sender.Company] ​

​ [Sender.Phone] [Sender.Email] ​

Prepared for:

​ [Client.FirstName] [Client.LastName]

​ [Client.Title] [Client.Company] ​

​ [Client.Phone] [Client.Email] ​

Executive summary

Problem statement.

In recent feedback sessions, (percent) % of

your customers experience a need for (declare customer need, such as faster delivery, accessibility, or a cheaper product).

Image 2

In surveys of customers who have chosen the competitors (product) , they mentioned that (price/delivery/accessibility, etc.) and (price/delivery/accessibility, etc.) was a problem (percent) % of the time.

To best serve your existing customers, you need to develop a series of (product/service/initiative) and sell it (at/with a better price point/faster delivery/improved accessibility, etc.) .

Image 4

Proposed solution

Your new (product/service/initiative) should begin (at/with) (percent) % (cheaper/faster delivery/more accessibility, etc.), with the potential to increase it to (percent) % depending on (what could prevent your product from succeeding, like marketing, amount of employees, etc.).

Image 5

In order to offer (these prices/improved accessibility/faster delivery, etc.) , you should do the following:

Pain point 1

(How to improve pain-point #1)

Pain point 2

(How to improve pain-point #2)

Pain point 3

(How to improve pain-point #3)

Image 11

Note that our proposed solution will not affect the overall quality of your business or brand.

With our proposed solution, your brand could (breakout into new markets/reduce manufacturing costs, etc.) . These new offerings could bring in $ (profit amount) , which would help your business's financial projections at the end of Q1/Q2/Q3/Q4/year).

Your company

! The following information discusses what your company currently looks like.

Image 6

Mission statement

Core values/principles.

(What does your business want to accomplish for its customers?)

(What is your vision, is it to become the best in your industry?)

Goals and objectives

(What are your objectives? Gaining more customers, expanding the company to 100 employees, or getting more investors?)

Product or service development

! We recommend your business creates the following products/services.

Product/service description

(Product/service description)

Pricing model

(Pricing model, including one-time costs or subscription costs)

Delivery capabilities

(Includes resource requirements for delivery, design ideas, and performance projections.)

Delivery system

(How you’ll deliver the product: online, shipment, etc.)

Critical element suppliers

(Includes the supply chain, such as inventory management, packaging strategy, storage and delivery strategy, regulatory compliance, safety, financial models, and data integrity and control.)

Marketing research

! Based on data, your business should be targeting the following customers.

Your competition and market status are how we determine if you’re aligning with industry marketing outcomes.

(Create a customer avatar that includes their age, gender, marital status, children, location, occupation, job title, average income, education, goals, values, challenges, point points, and common objections.)

Competition

(Choose at least 3 competitors, preferably direct competitors, in your industry to use for your SWOT analysis.)

Market status

(How is your market performing?)

Marketing goals

! Based on data, we believe your business should commit to the following

marketing goals.

Consumer climate

(How much do you expect your consumers to spend?)

Market share

(What portion of the market share do you expect to have?)

Diversification

(What industries or areas do you want to invest in?)

Distribution channels

(What direct and indirect distribution channels do you want to invest in? Retailers, wholesalers, or agents?)

Marketing plan

! Based on research, your business should include the following marketing initiatives.

Strategy and tactics

Customer markets.

(What are your main marketing strategies and tactics?)

(What customer markets are you targeting? Primary and/or secondary?)

Market positioning

Advertising research.

(How do you want your customers to view your brand or product?)

(How will you conduct market research? What is your strategy?)

Public positioning

Test marketing.

(Will your public positioning be based on product characteristics, price, quality/luxury, product use, or on the competition?)

(What markets, besides your direct market, should you test?)

Cross-selling

(Where are your cross-selling opportunities?)

SWOT analysis

! Based on research, this chart represents your and your competition’s strengths, weaknesses, opportunities for growth, and potential threats. Use this chart to improve on your offerings.

Self: (What are you doing right? Why do your customers like you?) ​

Competition: (What is your competition doing right? Why do their customers like them? Can you capitalize on their strengths?)

Image 7

Self: (What are you doing wrong? What do your customers say they want you to improve? How can you improve on these problems?) ​

Competition: (What are they doing wrong? What do their customers say they want them to improve? How can you capitalize on these problems?)

Opportunities

Self: (Where are there opportunities for growth in your company based on your and your competition's weaknesses and your strengths?) ​

Competition: (Where can your business improve and capitalize on your competition’s customers? When can you implement these changes?)

Image 9

Self: (What projects are you creating at the moment? What could go wrong, and how has your competition implemented a similar project?)

Competition: (Are you aware of new projects your competition is implementing? What could go wrong? Could your business do it better?)

See risk factors and contingencies for possible financial shortfalls.

Financial plan

! Below are your total costs regarding your employees, office expenses, and utilities. Your sales are covered in the “projected revenue” charts. The final two charts, “projected quarterly expenses” and “projected yearly revenue and expenses,” cover your total costs.

Projected costs for the year

Your projected costs for (year) is as follows:

Projected quarterly revenue

Your projected revenue for (year) is as follows:

Total yearly sales:

Total yearly returns:

Net profit:

Projected quarterly expenses

Your projected quarterly expenses for (year) is as follows:

Projected yearly revenue and expenses

Your projected quarterly expenses for (year), (year), and (year) are as follows:

Assessment and review

! The below chart includes our assessment and review of the following categories.

Analytics and tracking

Financial analysis.

(What are your results for tracked metrics and KPIs?)

(How is your company doing financially?)

Customer surveys

Market share analysis.

(What do your customers say?)

(What percentage of the market share do you currently own?)

Market survey

(Where is the market headed in your industry?)

Risk factors and contingencies

! Risk factors regarding your business are indicated below. If you limit the number

of risk factors and contingencies in your business, you’ll be able to meet your financial projections.

Revenue Shortfall

(Do you expect a shortfall? What can you do to prevent this?)

Pro Forma Invoices

(Are your Pro Forma invoices accurate? By how much?)

Critical Ratios

(What is your critical ratio percentage? How can this be improved?)

Budget Variance

(Will your budget be higher or lower than projected costs?)

Financial Audits

(How accurate are your financial audits?)

! Below are the sources we used to find the data we needed to conduct your strategic plan.

Research: Clients

(Use existing reviews, own analysis, data analytics, websites, surveys, product/service usage, audience insights, one-on-one conversations, Google research, heat mapping, social listening, and more to conduct your research.)

Research: Competition

Research: environment.

*Please go back to your executive summary to see how we used our findings.

MM / DD / YYYY

​ [Client.FirstName] [Client.LastName] ​

​ [Sender.FirstName] [Sender.LastName] ​

Care to rate this template?

Your rating will help others.

Thanks for your rate!

Useful resources

  • Featured templates
  • Sales proposals
  • NDA agreements
  • Operating agreements
  • Service agreements
  • Sales documents
  • Marketing proposals
  • Rental and lease agreement
  • Quote templates
  • Business Essentials
  • Leadership & Management
  • Credential of Leadership, Impact, and Management in Business (CLIMB)
  • Entrepreneurship & Innovation
  • *New* Digital Transformation
  • Finance & Accounting
  • Business in Society
  • For Organizations
  • Support Portal
  • Media Coverage
  • Founding Donors
  • Leadership Team

business strategic plan example

  • Harvard Business School →
  • HBS Online →
  • Business Insights →

Business Insights

Harvard Business School Online's Business Insights Blog provides the career insights you need to achieve your goals and gain confidence in your business skills.

  • Career Development
  • Communication
  • Decision-Making
  • Earning Your MBA
  • Negotiation
  • News & Events
  • Productivity
  • Staff Spotlight
  • Student Profiles
  • Work-Life Balance
  • Alternative Investments
  • Business Analytics
  • Business Strategy
  • Business and Climate Change
  • Design Thinking and Innovation
  • Digital Marketing Strategy
  • Disruptive Strategy
  • Economics for Managers
  • Entrepreneurship Essentials
  • Financial Accounting
  • Global Business
  • Launching Tech Ventures
  • Leadership Principles
  • Leadership, Ethics, and Corporate Accountability
  • Leading with Finance
  • Management Essentials
  • Negotiation Mastery
  • Organizational Leadership
  • Power and Influence for Positive Impact
  • Strategy Execution
  • Sustainable Business Strategy
  • Sustainable Investing
  • Winning with Digital Platforms

3 Business Strategy Examples to Inspire Your Own

business team crafting business strategy together

  • 03 Nov 2022

Successful businesses often change the way the world lives. Consider Apple, Google, and Netflix and the immense value each offers customers. Despite ambitious profit margins, the companies' business strategies didn't stem solely from financial goals. Each prioritized consumer value through innovations such as smartphones, faster search engines, and video streaming.

If you want to develop a successful business strategy, here's an overview of value creation, how to create value, and examples of companies successfully implementing it into their business models.

Access your free e-book today.

What Is a Value-Based Business Strategy?

Creating value for the customer and company determines whether a business strategy is successful. According to Harvard Business School Professor Felix Oberholzer-Gee in the HBS Online course Business Strategy , "These companies don't win by having the best product or most impressive service. They win by creating the most value."

While this can be difficult to visualize, the value stick framework illustrates how a company can maximize profit while creating more value for its customers, suppliers, and stakeholders.

The Value Stick

The value stick is a graph comprised of four components: willingness to pay (WTP), price, cost, and willingness to sell (WTS). Each segment represents how a sale's value is split between a firm, its customers, and suppliers. While each component leads to value, two levers create it: WTP and WTS.

To better understand how these components aid value-based business strategies , here are examples of how you can implement them in your organization.

Raising WTP

Willingness to pay (WTP) refers to the highest price a customer is willing to pay for a product or service. This calculation determines the threshold at which customers are more likely to make a purchase. Any slight imbalance in this number can deter, or even dissuade, consumers from purchasing. Only when a customer is delighted by a product or service are they willing to pay more.

Companies need to know their customer's WTP to remain profitable. According to HBS Online's Business Strategy course, it's influenced by the functional attributes of the product or service and other considerations, including:

  • Business sustainability: Is the product or service environmentally sound?
  • Social status: Does the media give your product or service additional value?
  • Market influence: Does your product or service inspire your competition?

Raising WTP can be an effective strategy for companies interested in increasing profit margins. This difficult balancing act requires an understanding of the product and target consumer. Business Strategy identifies three main mechanisms for raising WTP:

  • Conferring status: Earning "status" granted by media and the consumers to gain more value through public attention and brand legitimacy
  • Reducing uncertainty: Ensuring quality and purpose within an organization, so customers know what to expect with your product and service every time
  • Forming tastes: Taking the time to get your brand to the consumer as soon as possible because of nostalgic drivers

Lowering WTS

Willingness to sell (WTS) is the lowest price suppliers are willing to accept in exchange for materials needed to create products or services. Just as customers must weigh personal versus monetary value in determining whether they want to participate in a transaction, so do suppliers.

Another way to measure WTS is by considering employee engagement and retention. One of the most valuable assets a company has is its talent. Effective leaders nurture and develop employees to ensure salary isn't their only motivator.

Lowering WTS for one or both of these groups can be an effective business strategy for companies that can't raise their WTP. For example, companies that can motivate employees to work for a lower cost by providing value in other ways—such as benefits packages, flexible work hours, and generous paid time off—can lower WTS. Another method of lowering WTS is creating value for suppliers. This can take the form of additional warehouse space or long-term contracts.

Business Strategy | Simplify Strategy to Make the Greatest Business Impact | Learn More

3 Companies With Successful Business Strategies

One of the best ways to learn about business strategy is from real-world examples. Here are three companies that faced numerous challenges but overcame them through value-based business strategies.

1. Best Buy

Best Buy, the multinational electronics retailer, is an excellent example of how a shift in business strategy can lead to rapid growth. In 2012, Best Buy faced fierce market competition with online platforms like Amazon and big-box stores like Walmart and Home Depot. As a result, the company lost over a billion dollars in revenue in a single quarter.

Rather than closing stores or developing new products, Best Buy's leadership decided to leverage an existing asset not being utilized to its full potential: its storefronts. Best Buy started using its stores as "mini warehouses," providing faster shipping times, easier customer pick-up, and improved product availability. As a result of enhancing convenience for the customer, Best Buy increased its WTP.

Best Buy is an exceptional example of a value-based business strategy because it subsequently lowered WTS with this initiative. By keeping the vast network of stores intact and allowing vendors to build showrooms within its stores, Best Buy provided a cost-effective option for its vendors. This additional value lowered vendors' WTS, leading to product discounts.

As the largest sportswear manufacturer of shoes, clothing, and accessories, Nike has become one of the world's leading global sports brands. While much of Nike's success has come from its iconic products, it's also resulted from effective business strategies that out-compete in today's crowded sportswear market.

Value-based pricing greatly contributed to the company's reported global revenue of more than $44 billion in 2021 . For example, Nike has consistently leveraged consumers' perceptions of its products to drive prices up within their WTP. Nike can do this by creating the highest quality products to justify charging a premium price.

Many of Nike's competitors struggle to follow this same business model because of Nike's most valuable asset: its image. Company leadership at Nike has long understood that its pricing model isn't just reflected in the quality of its products but in the influence of its logo. By understanding its social and market influence, Nike's exclusive products, such as Air Jordans, have contributed to driving its perceived value to an even higher level. As a result, brand value and customer loyalty are two major pillars of Nike's long-term success at consistently raising its customer's WTP.

3. Starbucks

The world's largest coffeehouse chain, Starbucks, also needed to adopt a value-based strategy to gain market domination. In 2008, Starbucks faced immense financial pressure from increasing fast-food chain competition, rising prices in food and supplies, and global strains on coffee trading. In fact, by March 30, 2008, its profits had fallen nearly 28 percent compared to the previous year, leading to 300 closed stores and 6,700 employee layoffs.

To combat these challenges, Starbucks focused on better understanding the company's WTP. According to a letter by Starbucks CEO Howard Shultz, "The company must shift its focus away from bureaucracy and back to customers. We need to reignite the emotional attachment with our customers."

One method of doing this was the "My Starbucks Idea." Its goal was to create a space for customers to exchange ideas with each other and the company about Starbucks' products, services, stores, and corporate social responsibility . With nearly 93,000 ideas recorded and 1.3 million newly generated on social media, Starbucks tapped into what their customers cared about most.

Understanding what drives customer value led to many business model changes synonymous with Starbucks today. For example, free Wi-Fi, lounge chairs, and Starbucks' rewards program all sparked from customer feedback and forums. As a result, Starbucks is widely known as one of the fast-food chains with the highest WTP because of its loyal customer base.

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

Making Profits the Outcome, Not the Goal

Companies considering a shift in business strategy are often facing financial hardships. Whether an impending bankruptcy, decreasing profit margins, or increasing employee turnover, business strategies are meant to solve these problems. Yet, this isn't where your strategy should start.

"Profit is not the goal," says Oberholzer-Gee in HBS Online's Business Strategy course. "You treat it as an outcome. It's people first, then business."

Business leaders need an in-depth understanding of customer value to succeed in today's competitive marketplace. While real-world examples illustrate the implementation of these value-based strategies, taking an online course like Business Strategy can help you create an effective business strategy that wins over customers while generating a profit.

Are you interested in learning how customer value relates to financially successful business strategies? Explore our online course Business Strategy , or other strategy courses , to develop your strategic planning skills. To determine which strategy course is right for you, download our free flowchart .

business strategic plan example

About the Author

Logo

The 7 Best Business Strategy Examples I've Ever Seen

Download our free 56 Strategies Ebook Download this ebook

Most entrepreneurs dream of an innovative product or service that surprises their rivals and takes new markets by storm. What they tend to forget is that there needs to be an excellent business strategy accompanying the product. 

I get it - it’s not nearly as interesting to fantasize about a competitive strategy. Yet without it, even genius products can quickly drown in the harsh business sea. Most strategies fail. A sobering 9 out of 10 organizations fail to execute their strategy.

Free Download Download our 56 Strategies Ebook Download this ebook

I’ve already written about the 5 worst business strategy examples of all time and why many strategies fail . But today, we’ll flip the script and take a look at products and strategies that delighted their target customers and wildly exceeded initial business goals.

From Tesla, Airbnb, and Toyota to Hubspot, Apple, and Paypal - let’s dive into their business strategies and see why these 7 are the best ones I’ve ever seen:

  • Tesla - Playing the long game
  • Airbnb - Forgetting all about scalability
  • Toyota - Humility can be the best business strategy
  • HubSpot - Creating an industry then dominating it
  • Apple - iPhone launch shows tremendous restraint
  • PayPal - Daring to challenge the status quo
  • Spotify - Changing the rules of the music industry

But before we get into these business strategy examples, let's briefly go over some of the basics...

What is a business strategy?

A business strategy , also known as a company strategy, is a crucial aspect of running a successful business. It is a defined plan of action that outlines the direction a business wants to take and defines how the plan will cascade through the organization by the allocation of resources. The importance of a business strategy cannot be overstated as it sets the direction for the entire organization and helps to align all employees towards a common goal . Overall, a business strategy serves as a roadmap for a company, guiding its actions and decisions to achieve its goals and stay competitive in the marketplace. 

👉 If you have any unanswered questions about business strategies, check our FAQs at the end of this article! 

🎁 Struggling to build your Business Strategy? Use our free customizable  Business Strategy Template to easily develop and execute it!

Best business strategies #1: Tesla Playing the long game

Conventional business logic is that when you're starting something new, you create a 'Minimal Viable Product' or MVP.

Essentially that means that you make a version of your product that is very light in terms of functionality and focuses mostly on showcasing your main competitive advantage.

It also means that the first version of your product usually has to be sold at a reasonably low starting price to compensate for its lack of features and generate interest.

Some organizations (including many tech startups) take this concept even further and base their growth strategy around a freemium pricing model . In this business model, the most basic version of the product or service is free, but any new or upgraded features cost money. 

Tesla, on the other hand, did things the other way around. It's been known for a long time that Tesla's long-term goal is to be the biggest car company in the world. They know that in order to become the biggest by volume, they're going to have to succeed in the lower-end consumer car space (price tag US$30,000 or less).

But Tesla did not focus on this market first. It did not create a cheap low-featured version of their electric car (and therefore benefit from economies of scale ).

Instead, Tesla created the most luxurious, expensive, fully-featured sports car they could afford. That car was the Tesla Roadster, and for context, the newest generation of the Roadster will retail from upwards of US$200,000 for the base model. 

This was the first car they ever produced - knowing that they couldn't achieve the necessary scale or efficiency to turn a profit (even at such a high price). However, such a car was in-line with Tesla’s vision statement where they aim “to create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles.”

Fast-forward to today, and Tesla dwarfs the competition as the most valuable car company in the world. So their differentiation strategy certainly seems to be working, but why?

most valuable brands within the automotive sector worldwide as of 2022, by brand value(in billion U.S. dollars) source statista

What can we learn from Tesla?

The first thing to note is that Tesla has made incredible progress towards its business objective of mass-produced, affordable electric cars. They've even made a genuine annual profit for the first time in their history. 

Secondly, much of Tesla's business strategy was actually forced upon it. There was no way they could have created a cost-effective mass-market electric car.

As a startup, they didn’t have the resources or capabilities to reap the benefits of economies of scale. Because they were creating such a unique car, they couldn't rely on outsourcing or suppliers to gain mass-production benefits.

Fortunately, Tesla's supply chain strategy is one of the most brilliant moves they've made. They knew early on that batteries would present the biggest technological hurdle to their cars and the biggest bottleneck to production.

Rather than let this derail them, they took complete control of their supply chain by investing in battery manufacturers. This has the additional benefit of simplifying diversification as Tesla can use those same batteries in parallel business ventures such as their Powerwall.

Of course, Tesla’s business strategy required vast capital and fundraising (Elon is rich but not quite rich enough to fund it all himself). That's where the marketing genius of Tesla kicks in. 

For the most part, their marketing efforts are only partially about their cars. Tesla is seen as Elon Musk's personal brand, and that had an enormous impact on whether or not they got the investment they needed.

He's smart, divisive, wild, and ambitious. But whatever you think about Elon Musk, you'd be hard-pressed to traverse more than a couple of consecutive news cycles without seeing him on the front page. And that's a fantastic recipe for getting the attention of investors.

Tesla studied and adapted to the industry and business environment they would operate in. They knew their strengths, understood their market position, and built their strategy around their own findings instead of following conventional wisdom.

👉 Use the Tesla Strategy Plan Template to get inspired by Tesla's Strategy to build your own!

📚Learn more about Tesla in our Strategy Study: How Tesla Became The World’s Most Valuable Automotive Company.

Best business strategies #2: Airbnb Forgetting all about scalability

Airbnb is one of the fastest-growing tech companies. Shortly after their IPO in December 2020, they reached a US$100B+ valuation, and the company has quite possibly changed the way we travel forever. But did you know they started out about as low-tech as you can get?

It all began with co-founders Brian and Joe renting out 3 air mattresses on their apartment’s floor. They made $80 per guest. It seemed like a great idea for a startup, so they launched a website and invited other people to list their own mattresses for hire.

They got a few bookings here and there, but things didn't go well for the most part. So much so that in 2008, they resorted to selling cereal to make ends meet.

They had plenty of listings on the site and plenty of site traffic. Potential customers were out there, but they weren’t making enough bookings.

They identified the most likely problem - the low quality of listings that were simply not enticing. So Brian and Joe decided to take matters into their own hands.

The co-founders grabbed their cameras and visited every one of their NYC listings. They persuaded the owners to let them take a ton of photographs of their places.

They touched them up a bit and uploaded them to the website, replacing the old, usually bad photos. Within a month of starting this strategy, sales doubled. Then tripled. The rest is history.

best business strategies airbnb

What can we learn from Airbnb?

The thing I love the most about this story is that it opposes one of the most commonly stated principles of building a tech startup - “everything must be scalable” .

What Brian and Joe did was anything but scalable. But it got them enough traction to prove that their concept could work. 

Later, they did scale their initial solution by hiring young photographers in major locations and paying them to take professional photos of owners’ listings (at no charge to the owner).

They also added a bunch of guidelines and articles on the site to educate owners on how they can make more money by taking better photos.

Airbnb's story shows that business strategies don’t have to be grand and super long-term affairs.

They can revolve around a specific challenge preventing the business from taking off. Once the challenge is solved, the company progresses on its roadmap and integrates the solution into the revamped business strategy.

airbnb quarterly revenue 2019 to 2022 ($mm)

Source: Airbnb third quarter 2022 financial results

👉 Use the Airbnb Strategy Plan Template to get inspired by Airbnb's Strategy to build your own!

Best business strategies #3: Toyota Humility can be the best business strategy

In 1973, the 'Big Three' car makers in the USA had over 82% of the market share. Today they have less than 50%. Why? Because of the aggressive (and unexpected) entry of Japanese carmakers into the US market in the 1970s - led by Toyota.

Cars are big, heavy, and expensive to ship around in large numbers. That's one of the reasons the US market was caught off guard when Toyota started selling Japanese-made cars in the US at lower prices than they could match.

The car industry was a huge contributor to the US economy, so one of the first reactions from the government was the implementation of protectionist taxes on all imported cars - thus making Japanese cars as expensive as locally made cars.

But the tactic failed. Within a few years, Toyota had managed to establish production on US soil, thus eliminating the need to pay any of the hefty new import taxes. At first, US carmakers weren't all that worried.

Surely by having to move production to the US, the costs for the Japanese carmakers would be roughly the same as those of the local car companies. 

Well, that didn't happen. Toyota continued its cost leadership strategy. It still manufactured cars for significantly less money than US companies could.

Their finely honed production processes were so efficient and lean that they could beat US carmakers at their own game. You've probably heard of the notion of ' continuous improvement '. In manufacturing, Toyota is pretty much synonymous with the term.

US Car Sales Graph- January through May 2021 vs 2020

us car sales graph 2020 to 2021

Source: GOODCARBADCAR

What can we learn from Toyota?

Most business success stories involve bold moves and daring ideas. But not this one. 

Toyota spent years studying the production lines of American carmakers such as Ford. They knew that the US car industry was more advanced and efficient than the Japanese industry. So they decided to be patient.

They studied their competitors and tried to copy what the Americans did so well. They blended these processes with their strengths and came up with something even better.

Toyota proved that knowing one's weaknesses can be the key to success - and be one of the best business strategies you can ever deploy.

Not just that. Can you name a single famous executive at Toyota? I can't. And one of the reasons is that Toyota's number one corporate value is humility. It helped them crack the US market, and it runs deep in the organization - from top management to assembly workers.

Toyota’s success is based on continuously improving its functional level strategy , which focuses on day-to-day operations , decisions, and goals. They understood that the bigger picture consists of thousands of small tasks and employees.

They took a big goal, such as “becoming a cost leader in our category without compromising quality”, and ensured that their mission impacted every level of the organization while staying true to their core values.

👉 Use the Toyota Strategy Plan Template to get inspired by Toyota's Strategy to build your own!

📚Learn more about Toyota in our Strategy Study: How Toyota Went From Humble Beginnings To Automotive Giant .

Best business strategies #4: HubSpot Creating an industry then dominating it

HubSpot might not be as famous as Airbnb or Toyota. However, being valued at $22.72 billion in 2022 means, they’re certainly no slouch.

And most impressively, they’ve become such a successful company in an industry that didn’t even exist before they invented it.

Most of the marketing we experience is known as 'interruption' marketing. This is where adverts are pushed out to you whether you like it or not. Think tv adverts, billboards, Google Adwords, etc. 

In 2004, HubSpot created a software platform that aimed to turn this marketing concept on its head. The HubSpot marketing platform helped companies write blog posts, create eBooks, and share their content on social media.

The theory was that if you could produce enough good quality content to pull people to your website, then enough of them might stick around to take a look at the product you're actually selling. Useful content created specifically for your target market should also increase customer retention.

This approach was a big deal. I can tell you from personal experience that 'interruption marketing' is really expensive. We pay Google around $10 each time someone clicks on one of our AdWords adverts. Remember, that's $10 per click, not per sale. It adds up pretty fast.

On the other hand, this blog receives more than one million clicks per year. Each article keeps generating clicks at no additional costs once it’s written and published. 

Inbound marketing basically saved our business - so it's fair to say that this example is pretty close to my heart!

Hubspot coined the term 'inbound marketing' - and long story short, they're now one of the biggest SaaS companies in the world. But that's not the interesting part of the story.

What can we learn from HubSpot?

Hubspot’s successful business strategy is based on a new type of marketing. Now here’s the twist that separates it from generic strategies: Hubspot used their new marketing approach to market their own company, whose sole purpose was to sell a platform that created that new type of marketing. Head hurting yet? Mine too.

Most companies would have taken that new approach and applied it to something they were already selling. But instead, the HubSpot guys decided to monetize the marketing strategy itself. 

They took a whole bunch of concepts that already existed (blogging, eBooks, etc.) and packaged them into an innovative product - ‘a new way of doing things'. 

They created an awesome narrative and proved how powerful their new way of marketing could be by building a business worth billions around it. 

Their best and biggest case study was their own product, and they had all the numbers and little details to showcase to the world it really works.

hubspot quarterly revenue q3 2022 ($m)

Source: Hubspot overview

👉 Use the Hubspot Strategy Plan Template to get inspired by Hubspot's Strategy to build your own!

Best business strategies #5: Apple iPhone launch shows tremendous restraint

Ok, I hear you - this is such an obvious inclusion for the 'best business strategies'. But as one of the first people to adopt smartphones when they came out in the 1990s, this is something else that's close to my heart. 

I remember using Windows Mobile (the original version ) on a touchscreen phone with a stylus - and it was horrible. I loved the fact that I had access to my email and my calendar on my phone.

But I hated that my phone was the size of a house and required you to press the screen with ox-like strength before any kind of input would register.

Thankfully, a few years later, BlackBerry came along and started to release phones that were not only smart but much more usable. Sony Ericsson, Nokia, HTC, and a whole host of other manufacturers came out with reasonably solid smartphones well before 2007 when Apple finally released the iPhone.

I remember arriving at the office one day, and my boss had somehow gotten his hands on one of the first iPhones to be sold in the UK. I was shocked. Normally I was the early adopter. I was the one showing people what the future looked like.

And yet, here was this guy in his mid 50's, with his thick glasses, showing off a bit of technology that I'd never even seen before.

Apple could easily have created a phone much earlier than it did and sold it to me and a few other early adopters.

But it didn't. Instead, it waited until the technology was mature enough to sell it to my boss - someone who is far less tech-savvy than me. But also far more financially equipped to spend plenty of money on new tech products.

mobile-brand-market-share-united-states-2022

What can we learn from Apple?

The big learning here is that first-mover advantage is often not an advantage. A well-executed 'follower' strategy will outperform a less well-executed 'first mover' strategy every single time. 

One of the most common misconceptions in the startup world is that it's the 'idea' that matters the most. The truth is, the world's most successful companies were rarely the original innovators. I'm looking at you, Nokia. At you, Kodak. And at you as well, Yahoo.

In fact, being first is probably a disadvantage more often than it's an advantage. Why?

  • Your market isn't well defined and doesn't even know your product type exists.
  • If you have a market, it's probably just the early adopters - by definition, that's a niche market.
  • Technology will often hold you back rather than power you to success.
  • Every business that comes after you will have the advantage of learning from your mistakes.

People, and especially tech companies, get carried away with being first and forget that it’s a competitive position with pros and cons. Deciding to be a 'first mover' or 'smart follower' is crucial for strategic planning .

It’s a decision that should be based on research such as swot analysis and not on pride or blind optimism as it can make all the difference between success and failure.

Bonus reading : 18 Free Strategic Plan Templates (Excel & Cascade)

👉 Use the Apple Strategy Plan Template to get inspired by Apple's Strategy to build your own!

📚Learn more about Apple in our Strategy Study: How Apple Became the Top Non-Corporate Tech Brand .

Best business strategies #6: PayPal Daring to challenge the status quo

There are certain industries that you just don't mess with. Industries like aerospace, big supermarkets, semiconductors, and banking. Actually, banking is probably the toughest industry to try to disrupt because the barrier to entry is huge.

You need mountains of capital, a ton of regulatory approval, and years of building trust with your customers around their most important asset - cash.

Banks are old. Their business models have been essentially unchanged for hundreds of years. They're insanely powerful and almost impossible to displace. But for some crazy reason - PayPal didn't seem to care.

I can tell you from personal experience (I worked for a bank) that the name which strikes the most fear into the executives of the banks is PayPal.

Here's why:

  • PayPal spends less money on technology than even a medium-sized bank does. Yet its technology platform is far superior.
  • Consumers trust PayPal as much if not more than they trust their bank. Even though PayPal has been around for a fraction of the time.
  • When a customer uses their PayPal account, the bank has no clue what the customer bought. The transaction appears on the bank statement as merely 'PayPal'. That gives PayPal all the power when it comes to data mining.
  • PayPal is quicker to market with just about any kind of payment innovation.
  • PayPal refuses to partner with banks - instead opting to partner with retailers directly.

In a very short time, PayPal has emerged as a new payment method - giving a very real alternative to your trusty debit or credit card. PayPal has also become one of the best payment platforms for digital nomads , tapping into one of the fastest-growing business trends in the world.

But how the heck did it manage to do it? Let's take a look at why PayPal had one of the best business strategies ever.

What can we learn from PayPal?

There are two main reasons behind PayPal's success story. 

The first is simple - stone-cold balls. They got a fairly lucky break when they accidentally became the favored payment provider for eBay transactions. A few years later, Paypal was even acquired by eBay for US$1.5bn.

eBay was smart enough to mostly leave Paypal alone, and their newfound sense of boldness saw them strike a series of deals with other online retailers to try and replicate the success they'd had with eBay.

This is where the second reason comes in. Partnerships. Banks had always been wary about forming partnerships with retailers directly. Instead, they relied on their scheme partners (Visa / MasterCard) to do it for them.

They didn't want the hassle of managing so many different relationships and were extremely confident that credit and debit cards would always be at the heart of the payment system. But the problem was that MasterCard was already working on a partnership with PayPal. 

Today, PayPal commends an amazing 54% share of the payment processing market. Almost all of that growth has come from their direct relationships with large and small merchants.

It shows that even in the toughest and most competitive markets, you can still find opportunities worth exploring and uncover a key to a very good business strategy.

paypal market share 2022 statista

Market share of online payment processing software technologies worldwide Sep 2022. Source: Statista

👉 Use the PayPal Strategy Plan Template to get inspired by Paypal's Strategy to build your own!

Best business strategies #7: Spotify Changing the rules of the music industry

Before Spotify came along, the world of online music streaming was pretty lackluster. Sure, you had platforms like Napster and The Pirate Bay, but they were illegal and you never knew when they would get shut down. And even if you did use them, you were still pretty limited in terms of what you could listen to. On the other hand, you had platforms like iTunes and Pandora, but they had their own set of problems. With iTunes, you had to pay for each and every song, which was a total bummer. And Pandora, you couldn't listen to whatever song you wanted, it was more like a radio station. Basically, people were craving for a better way to listen to music, one that was legal and gave them the freedom to choose what they wanted to listen to. And that's where Spotify comes in. When Spotify launched in 2008, it was a game-changer. They took the best parts of platforms like Napster and The Pirate Bay (the ability to share music), but made it legal. And they also took the best parts of platforms like iTunes and Pandora (the ability to choose what you want to listen to), and made it better. As we all know, it turned out to be quite an effective business strategy.

What can we learn from Spotify?

Spotify nailed it by putting their customers at the forefront of their business strategy. They saw that people were fed up with the limitations of other music streaming platforms and decided to create a service that put the customer's needs and wants first. They invested in technology and engineers to ensure the experience was seamless and easy for listeners, and it worked like a charm. People flocked to Spotify like bees to honey because it gave them the freedom and control over their music choices that they craved. Another big part of Spotify's success was (and still is) their freemium business model. They offered a free version of the service, but also had premium options for those who wanted more features and services. This allowed them to attract a huge user base and generate revenue from both the free and paying users. This model helped Spotify grow its user base and revenue quickly, more than exceeding their business goals.

spotify launch free and premium monthly active users

And let's not forget about their data-driven approach. They invested heavily in data analysis and machine learning, which allowed them to create algorithms to predict which songs and artists users will like and recommend them accordingly - going one step further into user personalization. This helped to drive engagement and loyalty, making Spotify the go-to platform for discovering new music and creating playlists.

👉 Use the Spotify Strategy Plan Template to get inspired by Spotify's Strategy to build your own!

📚Learn more about Spotify in our Strategy Study: How Spotify Became The Standard In Convenience And Accessibility .

More excellent business strategy examples

You just got familiar with my personal selection of top business strategies. But these 7 are just the tip of the iceberg! If you’re looking for more examples and lessons from the very best businesses in the world, download the free 56 strategies report . It’s a selection of cases that covers plenty of really interesting situations. Trust me, you won’t regret it.

What's the difference between a business strategy and a corporate strategy?

A business strategy refers to the business plan for a specific business unit level within a company, while a corporate strategy deals with the overall direction and scope of the entire organization at the functional level.

A successful business strategy focuses on achieving specific business objectives within a certain market or industry, and is often developed as part of a larger business plan. While a corporate-level strategy focuses on achieving corporate objectives and aligning the entire organization's key components to achieve competitive advantage and meet organizational goals.

What are the key components of a successful business strategy?

A successful business strategy includes the following key components:

  • Identifying and targeting a specific market or industry
  • Developing a unique value proposition
  • Creating a business plan with relevant focus areas to achieve the business objectives
  • Define the specific actions that will ensure those objectives are met
  • Determine the measures or KPIs that will drive success and ensure execution
  • Continuously monitoring and adjusting the strategy to meet the organizational goals

How does a business strategy contribute to achieving corporate objectives?

A business strategy is designed to achieve specific business objectives within a certain market or industry, which in turn contributes to achieving the overall corporate objectives of the organization .

By aligning the efforts of the individual business units with the overall direction and scope of the company, a business strategy helps to create a unified approach towards achieving competitive advantage and meeting organizational goals.

Popular articles

business strategic plan example

How To Implement The Balanced Scorecard Framework (With Examples)

business strategic plan example

The Best Management Reporting Software For Strategy Officers (2024 Guide)

business strategic plan example

How To Set And Execute Strategic Priorities

business strategic plan example

How To Implement Effective Strategic Planning In Healthcare

Your toolkit for strategy success.

business strategic plan example

Strategic Plan Examples | Best 11 Tools For Effective Strategic Planning | Updated in 2024

Strategic Plan Examples | Best 11 Tools For Effective Strategic Planning | Updated in 2024

Jane Ng • 14 Jan 2024 • 10 min read

Looking for Strategic Plan Examples? Having a strategic plan is essential for any business or organization’s growth. A well-crafted plan can make all the difference in the success of your venture. It helps you have a realistic vision for the future and maximize the company’s potential.

So, if you struggle to develop a strategic plan for your business or organization. In this blog post, we will discuss a strategic plan example along with few fun ideas for strategic planning and tools that can serve as a guide to help you create a successful plan.

Table of Contents

What is a strategic plan, strategic plan examples, tools for effective strategic planning, how ahaslides help you with strategic planning, key takeaways, frequently asked questions, tips for better engagement.

  • Strategy Formulation
  • Scenario Planning Examples
  • What is Career Planning?
  • Stress Management

Alternative Text

Looking for a tool to engage your team?

Gather your team members by a fun quiz on AhaSlides. Sign up to take free quiz from AhaSlides template library!

A strategic plan is a plan that outlines an organization’s long-term goals, objectives, and strategies for achieving them.  

It is a roadmap that helps your organization prepare and allocate resources, efforts, and actions to achieve its vision and mission.

Strategic Plan Example

Specifically, a strategic plan usually lasts 3-5 years and may require the organization to evaluate its current position with its strengths, weaknesses, potential, and competitive level. Based on this analysis, the organization will define its strategic goals and objectives   (they need to be SMART: specific, measurable, achievable, relevant, and time-bound).

Following that, the plan will list the required steps and actions to achieve these goals, as well as the resources needed, timelines, and performance measures to track progress and success.

To guarantee success, your strategic plan needs tools that help with planning, management, communication, collaboration, and accountability to help the organization stay focused and stick to the workflow.

Here are some strategic planning models your business can use:

1/ SWOT Analysis – Strategic Plan Example 

The SWOT Analysis model was developed by  Albert Humphrey . This model is a well-known business analysis model for organizations that want to create a strategic plan by evaluating four factors:

  • S – Strengths
  • W – Weaknesses
  • O – Opportunities
  • T – Threats

business strategic plan example

With these factors, your organization can understand its current situation, advantages, and areas where need to improve. In addition, your organization can identify the external threats that may affect it and the opportunities to seize in the present or the future.

After having such an overview, organizations will have a solid basis for effective planning, avoiding risks later.

Strategic Plan Example:   To help you better understand how to use SWOT analysis to develop a strategic plan, we will give an example.

You have a small business that sells handmade soap products. Here is a SWOT analysis of your business:

Based on this SWOT analysis, your business can develop a strategic plan that focuses on

  • Expand product distribution channels
  • Developing new product lines
  • Improve online marketing and advertising

With this strategy, you can leverage your strengths, such as high-quality products and personalized customer service.

2/ Balanced Scorecard Model – Strategic Plan Example 

Balanced Scorecard Model is a strategic planning model that helps businesses develop sustainably and reliably through all 4 aspects:

  • Financial:  Organizations need to measure and monitor financial results, including fixed costs, depreciation expenses, return on investment, return on investment, revenue growth rate, etc.
  • Customers:  Organizations need to measure and evaluate customer satisfaction, along with their ability to meet customer needs.
  • Internal process:  Organizations need to measure and evaluate how well they are doing.
  • Learning & Growth:  Organizations focus on training and helping their employees develop, helping them improve their knowledge and skills to maintain a competitive edge in the market.

Strategic Plan Example: Here is an example to help you understand more about this model:

Assuming you are the owner of a famous coffee brand, here is how you apply this model to your strategic plan.

The Balanced Scorecard model ensures that a business is considering all aspects of its operations and provides a framework for measuring progress and adjusting strategies as needed.

3/ Blue Ocean Strategy Model – Strategic Plan Example 

Blue Ocean Strategy Model  is a strategy of developing and expanding a new market in which there is no competition or competition is unnecessary.

There are six basic principles for the successful implementation of a blue ocean strategy.

  • Reconstruct market boundaries:  Businesses need to rebuild market boundaries to break out of competition and form blue oceans.
  • Focus on the big picture, not the numbers:  Businesses need to focus on the big picture when planning their strategy. Don’t get bogged down in details.
  • Go beyond the existing demands:  Instead of focusing on existing products or services, they need to identify those who are non-customers or potential customers.
  • Get the strategic sequence right:  Businesses need to create a value proposition that differentiates them and adjust internal processes, systems, and people.
  • Overcome organizational obstacles.  To successfully implement the Blue Ocean Strategy, the business will need buy-in from all levels of the organization and communicate strategy effectively.
  • Strategy Execution.  Businesses implement strategy while minimizing operational risks and preventing sabotage from within.

business strategic plan example

Strategic Plan Example: The following is an example of applications of the Blue Ocean Model.

Let’s continue to assume that you are an organic soap business owner. 

  • Reconstruct market boundaries:  Your business can define a new market space by creating a line of soaps that are only for sensitive skin.
  • Focus on the big picture, not the numbers:  Instead of just focusing on profits, your business can create value for customers by emphasizing natural and organic ingredients in soap products.
  • Go beyond the existing demands:  You can tap into new demand by identifying non-customers, such as those with sensitive skin. Then create compelling reasons for them to use your product.
  • Get the strategic sequence right:  Your business can create a value proposition that sets it apart from competitors, in this case with natural and organic ingredients. Then align its internal processes, systems, and people to deliver on that promise.
  • Overcome organizational obstacles:  To successfully implement this strategy, your business needs support from all levels of stakeholders for this new product. 
  • Strategy Execution:  Your business can build performance metrics and adjust the strategy over time to ensure they’re performing effectively.

Here are some popular tools to help you have an effective strategic plan:

Tools For Data Gathering and Analysis

#1 – pest analysis.

PEST is an analysis tool that helps your business understand the “big picture” of the business environment (usually macro-environmental) in which you are participating, thereby identifying opportunities and potential threats. 

business strategic plan example

PEST Analysis will evaluate this environment through the following 4 factors:

  • Politics:  Institutional and legal factors can affect the viability and development of any industry.
  • Economics:  Organizations need to pay attention to both short-term and long-term economic factors and government intervention to decide which industries and areas to invest in.
  • Social:  Each country and territory has its own unique cultural values and social factors. These factors create the characteristics of consumers in those regions, which make a huge impact on all products, services, markets, and consumers.
  • Technology:  Technology is an important factor because it has a profound impact on products, services, markets, suppliers, distributors, competitors, customers, manufacturing processes, marketing practices, and the position of organizations.

PEST analysis helps your business understand the business environment. From there, you can map out a clear strategic plan, make the most of the opportunities that come your way, minimize the threats and easily overcome the challenges.

#2 – Porter’s Five Forces

Five Forces represent 5 competitive forces that need to be analyzed to assess the long-term attractiveness of a market or a segment in a particular industry, thereby helping your business have an effective development strategy. 

Here are those 5 forces

  • Threat from new opponents
  • Power of suppliers
  • Threat from substitute products and services
  • Power of customers
  • The fierce competition of competitors in the same industry

These five factors have a dialectical relationship with each other, showing the competition in the industry. Therefore, you need to analyze these factors and develop strategies to identify what is particularly attractive and outstanding for the business. 

#3 – SWOT Analysis

More than being a model for strategic planning, SWOT is a valuable tool for conducting market analysis. By utilizing SWOT, you can pinpoint the strengths, weaknesses, opportunities, and threats of your organization before implementing a successful strategy.

Tools For Strategy Development and Implementation

#4 – scenario planning .

Scenario planning is a strategic planning tool that considers multiple future scenarios and evaluates their potential for an organization. 

The scenario planning process has two stages:

  • Identifying the key uncertainties and trends that could shape the future.
  • Developing multiple response scenarios based on those factors.

Each scenario describes a different possible future, with its own unique set of assumptions and outcomes. By considering these scenarios, your organization can better understand various possible futures it may face, and develop strategies that are more resilient and adaptable.

business strategic plan example

#5 – Value Chain Analysis

The Value Chain Analysis model is an analytical tool for understanding how the activities within your organization will create value for customers.

There are three steps to performing a value chain analysis for an organization:

  • Divide the organization’s activities into main activities and supporting activities
  • Cost breakdown for each activity
  • Identify the fundamental activities that create customer satisfaction and organizational success

From the three steps above, your organization can more effectively measure its capabilities by identifying and evaluating each activity. Then each value-creation activity is considered a resource to create a competitive advantage for the organization.

#6 – Critical Success Factors

Critical Success Factors (CSF) refer to the causes that lead to the success of a business or set out what employees need to do to help their business to achieve success.

Some helpful questions for determining your business’s CSF include:

  • What factors are likely to lead to the desired outcome of the business?
  • What requirements must exist to produce that result?
  • What tools does the business need to achieve that goal?
  • What skills does the business need to achieve that goal?

By defining the CSF, your business can create a common reference point for what it needs to do to achieve its goals, thereby motivating the workforce to get there.

business strategic plan example

#7 – A Balanced Scorecard

Besides being a model for strategic planning, A Balanced Scorecard is a performance management tool that helps you track progress toward your strategic objectives. It also helps you to measure and communicate your progress to stakeholders.

#8 – Blue Ocean Strategy Canvas

Apart from functioning as a strategic planning model, the Blue Ocean Strategy Canvas assists in recognizing new market opportunities by aligning your organization’s offerings with those of your competitors. 

By using this tool, you can identify areas where your organization can stand out and generate new demand.

Tools For Measurement and Evaluation

#9 – key performance indicators.

Key Performance Indicators (KPIs) is a tools to measure and evaluate work performance. KPIs are usually expressed through numbers, ratios, and quantitative indicators, to reflect the performance of groups or divisions of the business.

KPIs help businesses monitor and evaluate the performance of employees in a transparent, clear, specific, and fair manner thanks to specific data.

business strategic plan example

>> Learn more about  KPI versus OKR

Tools For Brainstorming  

#10 – mind mapping.

Mind mapping is a visual tool that can be used during the strategic planning process to help with brainstorming and organizing ideas. It is a method of visually representing information and ideas by drawing a diagram. 

Besides helping discover new ideas, it helps to find connections between various strategic objectives, which can ensure that the strategic plan is comprehensive and effective.

AhaSlides  offers several  features  that can be useful for your strategic planning.

AhaSlides allows you to create engaging and interactive presentations that can be used to communicate complex ideas or gather feedback. Along with  pre-made templates , we also have features like  live polls ,  quizzes , and live  Q&A  sessions that help you encourage engagement. As well as ensuring that all stakeholders have a voice and can provide input into the planning process.

Besides, the  word cloud  allows team members to collaborate and generate new ideas during strategic planning, which can help identify new opportunities or solutions to challenges that may arise.

Overall, AhaSlides is a valuable tool for strategic planning since it promotes communication, cooperation, and data-driven decision-making.

Having a well-defined strategic plan example is critical for any organization to achieve its goals and objectives. Therefore, with the information in the article, your organization may develop a complete strategic plan that is in line with its vision and mission, resulting in long-term growth and success.

And do not forget by using various strategic planning tools and models such as SWOT analysis, Balanced Scorecard, and Blue Ocean Strategy,… your organization can identify its strengths, weaknesses, opportunities, and threats, track progress toward its goals, and develop innovative strategies to differentiate itself in the market. 

Besides, digital tools like AhaSlides can aid in the effectiveness of the strategic planning process. 

Best IT strategic plan example?

Creating a comprehensive IT strategic plan is essential for organizations to align their technology initiatives with their overall business goals. While there isn’t a single “best” IT strategic plan that fits all organizations, please remember that the Key Initiatives should include: (1) Identification of major IT initiatives and projects for the planning period. (2) Detailed descriptions of each initiative, including objectives, scope, and expected outcomes. and (3) Alignment of each initiative with specific strategic goals.

What is effective strategic planning?

Effective strategic planning is a structured and forward-thinking process that organizations use to define their long-term vision, set clear objectives, and determine the actions required to achieve their goals. Effective strategic planning goes beyond creating a document; it involves engaging stakeholders, aligning resources, and continually adapting to changing circumstances.

' src=

A writer who wants to create practical and valuable content for the audience

More from AhaSlides

Guide to Effective Project Implementation Plan | Updated 2024

BUSINESS STRATEGIES

9 business strategy examples (and why you need one ASAP)

  • Amanda Bellucco Chatham
  • Dec 14, 2023

business strategy examples

Most successful businesses start with a good idea. In 1976, Steve Jobs and Steve Wozniak had the idea to make computers small enough to fit into people's homes and offices. Enter Apple, now the largest tech company in the world. 

But good ideas alone aren’t the catalyst to success—behind the scenes, a business strategy is at work. And a business strategy is something you need in order to complete the big picture and define how you plan to grow, operate and thrive.

In this post, we’ll define what we mean by business strategy, outline why it’s important and provide some tangible business strategy examples.

Set yourself up for success with a free business website  from Wix.

What is a business strategy?

A business strategy is a plan of action that keeps you focused on several things. Different from a business plan—which dictates how your business will be run from day to day—a business strategy tends to focus more on how, exactly, you will reach certain goals, milestones or achievements in running your business. 

You need a strategy when you want to start a business , as well as when you’re planning to grow or change an existing business. Your strategy defines your business goals and provides a framework for all of the moving pieces your venture needs to operate successfully.  

A business strategy typically includes the following elements:

Core product or service : What you're selling, your business idea or your service.

Target customer : A clear profile of who your business serves, including the problem that your product or service solves for them.

Competitive assessment : A summary of the competitive landscape including strengths, weaknesses, opportunities and threats (SWOT analysis). 

Financial plan : A financial projection that includes planned revenue, expenses and cash flow. 

Pricing approach : Your preliminary pricing for products and services offered, or your pricing approach (e.g., flat fee, hourly, fee-for-service, etc.).

Marketing and sales plan : An outline of how you plan to market your products and business, including a rough budget for paid media, details on how to make a website  and anything related to business promotion. It should also define some sales strategies focused on language meant to promote and differentiate your brand.

Staffing and hiring : An org chart that defines roles and hiring needs. Include any resources and personnel you have on hand (e.g. Is it just you? Is it a partnership?).

Growth objectives : A business growth  plan that incorporates your current goals, plus where you'd like the business to be in the next one, two or five years (e.g., markets, number of customers, revenue projections, etc.).

Pro tip : A business strategy and business plan go hand in hand in shaping the goals, objectives and achievements of your business. Looking for a business plan  instead? Check out our simple, customizable and free-to-download template.

8 key elements of a business strategy

3 types of business strategies

Any successful business starts with a roadmap that outlines how goals will be achieved. However, not all strategies are created equal. Let's take a look at three types of business strategies that can drive your business toward sustainable growth:

Corporate-level business strategy : This high-level strategy includes the company's vision, mission and key decisions. This might involve business choices, acquisitions or divestments, and resource allocation, for example.

Business-level strategy : A business-level strategy determines how a company competes in a market, considering product mix, customer segments, pricing, marketing and distribution. It aims to deliver value to customers and outperform competitors.

Function-level business strategy : A functional strategy focuses on the operational aspects of a business, like production, marketing, finance and human resources (HR). It supports corporate and business-level strategies by maximizing resource productivity.

Why a business strategy is important

Starting any type of business isn't for the faint of heart. There are many predictable and unpredictable factors to prepare for at every stage of growth. That’s why you need a business strategy to keep you on track.

As far as benefits go, a business strategy:

Helps you navigate market complexities : It provides a roadmap for staying ahead of the competition, plus external factors like supply chain issues and global events that may impact the market.

Provides insight into your customers' needs : When you know their pain points, you can align your strategy with real-world preferences and demands. 

Helps you anticipate small business challenges : Knowing about potential opportunities and issues will help you adapt to market changes—and be more resilient overall. 

Makes long-term success much more likely : A thoughtful plan takes the guesswork out of things like hiring, investing, growth and innovation.

9 business strategy examples

So, what does a business strategy look like? We’ve outlined nine examples below to inspire you as you iron out the blueprint for your business’s success.

Customer experience 

Cross-selling and upselling

Customer retention programs

Cost leadership

Differentiation

Acquisition

Social responsibility

01. Customer experience 

Companies like Zappos, Starbucks and Amazon are known for their exceptional customer experiences. They prioritize customer satisfaction, make doing business with them easy and (in the case of Starbucks) turn something as simple as grabbing a cup of coffee on your way to work into an immersive and satisfying sensory experience. 

Customer experience, as a business strategy, is beneficial for any small business owner . It creates loyal repeat customers who tend to become brand advocates, recommending your business, products and brand to their network of friends and family. 

02. Cross-selling and upselling

Focusing on selling more products to existing and new customers is a strategy that, if successful, has a direct and immediate impact on your cash flow, revenue and profitability. There are many ways to do this, including cross-selling and upselling  to shoppers as they browse your website, bundling similar products and using loyalty programs to entice past customers to return. 

Old Navy is a master of motivating return sales. Their Super Cash program awards shoppers $10 for every $25 spent on their website or in stores. The coupons become active at a later date, which encourages shoppers to hang onto them and return to shop again in the future.

Your rewards program doesn’t have to be elaborate, either. Wix merchant Jule Dancewear  offers customers five reward points for every $1 spent in the shop, with bonus points awarded for following the brand on Instagram or celebrating a birthday. Customers can then redeem their points for a certain dollar amount or percentage off a future purchase. 

jule dancewear homepage

03. Customer retention programs

Creating more customer loyalty is a viable and lucrative business strategy. It’s often more cost-effective to focus on retaining customers than constantly finding new ones. In fact, most brands have a 60-70% chance  of selling to an existing customer, but only a 5-20% chance of closing a sale with a new one.

Loyalty comes in many forms—e.g., retail loyalty programs that reward shoppers with coupons and discounts, or points systems like airline miles on credit cards. You build loyalty by being trustworthy, communicating clearly and creating high-quality products. Consistency is also key to building ongoing relationships. 

Perhaps no one does this better than Amazon with their Amazon Prime program. Customers buy into the program for a monthly or annual fee and are guaranteed fast, free shipping from Amazon sellers who opt into the program. Returns are also easy and Prime members get lots of other benefits, including a huge catalog of movie and TV shows, exclusive sales events and unlimited photo storage.

04. Cost leadership

Cost leadership is a strategy where a company offers the lowest prices in a niche or market. Companies like Walmart and IKEA are famous examples. They've mastered this strategy by offering products at prices lower than their competitors, while still maintaining profitability. 

This strategy isn't for everyone. Walmart's size gives it more leverage over suppliers (and wholesale pricing) versus a local mom-and-pop store. But even if you manage a smaller business, you can make a cost leadership strategy work by keeping costs low, creating your own products and being (incredibly) vigilant about your business costs. This is a strategy that takes a lot of planning and monitoring, so it’s important to do your research before jumping in.

05. Innovation

Innovation tends to be connected to categories like technology, pharmaceutical and business services industries. It's a business strategy that focuses on creating cutting-edge products or services that are either brand new (e.g., in 2007, Apple’s iPhone was the first smartphone introduced to a huge market of people who didn’t know they needed it) or best-in-class products or services in an existing market. 

Innovation, as a business strategy, isn’t limited to products or services. It can apply to a business approach—in other words, the way you offer your product or service. A perfect example of this is the rise of meal kit delivery services like Hello Fresh and Blue Apron. These companies provide “meal kits'' with fresh ingredients delivered as a subscription service to their customers (e.g., three meals per week). Or, take a look at Wix merchant Napa Wild , which offers weekly subscription shipments of fresh produce to areas surrounding Napa County, California. Their produce boxes are available in three different sizes to suit different households.

Some companies, like Tovala, include technology with their delivery service. Tovala’s smart oven works by scanning a barcode on the pre-made meal so that the cooking time and temperature are automatically set in the oven. When the meal is complete, the customer is notified via the Tovala app.

Napa Wild produce subscription box

06. Differentiation

Differentiation is about making your business stand out compared with your competitors. You do this by providing something uniquely special about your product design, features or quality. You can also differentiate yourself by creating a unique and meaningful brand story. When done well, differentiation gives you a lot of flexibility around pricing and approach—including the types of products and services you offer. An effective differentiation strategy helps your customers identify with your brand. They are either Coke drinkers or Pepsi drinkers, for example.

Or, take Starbucks as an example. Lots of places sell coffee, but Starbucks has taken coffee to an entirely new level with uniquely crafted (and premium-priced) drinks that are as much about lifestyle and identity as they are about getting your daily caffeine fix. 

07. Acquisition

Acquisition is a business strategy that involves purchasing another company (or companies) to fuel growth, expand market share or be more competitive. Acquisition can be a game-changer for your business, allowing you to quickly tap into new markets, acquire valuable assets and eliminate competition. 

Companies like Meta (formerly named Facebook) have effectively used acquisition as a strategy to maintain their dominance in the social media space. By acquiring platforms like Instagram and WhatsApp, Meta expanded its user base. It also diversified its offerings, ensuring it remains relevant even when other platforms like MySpace and Friendster have flamed out over time.

Acquisition as a primary strategy isn’t for the faint of heart. You need a deep understanding of each of your target company's operations, culture, financial health and customer base. Integrating two companies can also be complex and stressful. There are often issues with merging technologies, company cultures and aligning operations. Thus, conduct thorough due diligence before making an acquisition or you could end up turning a beloved global brand into a classic example of what not to do when acquiring a legacy company.

08. Social responsibility

Social responsibility is important to all consumers, but particularly Millennial and Gen Z consumers  who often evaluate companies and products based on environmental impact and sustainability. Social responsibility helps businesses differentiate themselves because it fosters community, protects the environment and ensures you’re prioritizing ethical practices throughout your operations.

In fact, according to a Deloitte survey, a quarter of consumers  are willing to pay more  for sustainable products and packaging, or for products or services from suppliers that respect human rights and ethical working conditions.

Two examples stand out here—Patagonia and TOMS Shoes. Both companies built their brands around social responsibility. Patagonia pledges 1% of its sales to environmental causes and is well-known by its loyal customers for being sustainable and supporting the lifestyle it promotes (loving the outdoors). Meanwhile, TOMS Shoes has a "One for One" model, donating a pair of shoes for every pair sold.

Patagonia screenshot

Value is subjective, but it can be a guiding light that helps new customers find you and inspires existing customers to return time after time. With a value-based strategy, the goal is to present something that is not just different but also has significant worth or meaning (or both) to your target audience. 

Apple doesn't just sell technology; they sell an entire ecosystem. Apple products resonate with customers because Apple is as much about a lifestyle as it is about a device or feature. Their products, while technologically advanced, are aesthetically pleasing, easy to use and integrate seamlessly with each other. 

Remember, offering unique value isn't about being different just for the sake of it. It's about understanding what your customers truly desire and creating something that fills that need in a way that no one else can. This could manifest as unparalleled quality. It could be a novel feature, or it can focus on exceptional customer service. Think about the companies you love that do this well—Disney, Trader Joe’s, Lululemon, Ben & Jerry’s and Ikea. A company that promises value and then delivers on it attracts new customers. It fosters loyalty and even advocacy. 

Dig deeper : Want more information on how to start or grow your business? Check out our essential guide on how to run a business , which includes 10 steps for business success.

Related Posts

What it takes to be a successful small business owner in 2024

How to start a business in 14 steps: a guide for 2024

The essential guide on how to run a business

Was this article helpful?

Examples logo

Business Strategic Plan

Business Strategic Plan Examples

The importance of a business strategic plan cannot be understated for any company. A business strategic plan assists a company in achieving long-term sustainability. Without a strategic plan, companies would find it difficult to sustain their daily operations. They would not be able to identify their strengths to gain a competitive advantage as well as fix issues that hamper them from achieving their maximum financial potential. To help you formulate a business strategic plan, here are some examples (in PDF format) as well as some tips on how to write a strategic plan.

Strategic Business Plan Template

strategic business plan template

  • Google Docs

Size: A4, US

If you want your company to prosper, you need to come up with an effective plan. To help you out with this, we present to you, this strategic business plan template that comes with ready-made content. It lets you identify the various elements that a business can utilize to attract funding while also efficiently managing the company objectives. You can open and edit this  legal strategic plan example in Microsoft Word, Apple Pages, and Google Docs.

Simple Strategic Business Plan Example

simple strategic business

If you want to outline the necessary strategies on how you can achieve your goals for your business, then you can make use of this “Strategic Business Plan” template that has pre-existing content. You can edit, add, or replace any content to your specifications by downloading and opening it in any of the file formats. Try it out now! You can also go through our  department strategic plan examples.

Small Business Strategic Plan Template

small business strategic plan template

  • Apple Pages

Size: 32 KB

New Business Strategic Plan Template

new business strategic plan template

Size: 36 KB

I.T Business Strategic Plan Template

i

Size: 30 KB

Business Strategic Action Plan Template

business strategic action plan template

Size: 33 KB

HR Strategic Business Plan Template

hr strategic business plan template

Size: 24 KB

5 Year Strategic Business Plan Template

5 year strategic business plan template

Size: 26 KB

30-60-90 Day Strategic Business Plan Template

30 60 90 day strategic business plan template

Strategic Business Marketing Plan Template

strategic business marketing plan template

Strategic Communication Business Plan Template

strategic communication business plan template

Size: 39 KB

HR Strategic Plan Template for Retail Business

hr strategic plan template for retail business

Size: 41 KB

HR Strategic Plan Template for Small Business

hr strategic plan template for small business

Size: 34 KB

ABCDE Business Strategic Plan Example

abcde business strategic plan example1

Editable Business Strategic Plan Example

editable business strategic plan example1

Size: 63 KB

Enterprise Strategic Plan Example

enterprise strategic plan example1

Size: 27 KB

The Strategic Planning Process

A business strategic plan requires multiple steps (specifically a process) before it is presented to executives and other stakeholders of the company. Listed below is the strategic planning process:

1. Mission and objectives

The mission statement describes the company’s vision or a long-term goal it wants to achieve. The vision is not an end-goal for the organization, as it can always change its vision after it has been achieved. But the vision is not easily achievable and requires years of consistent results and careful planning.

Guided by its vision, the organization’s management team can define measurable financial and strategic objectives. Sales objectives refer to the organization’s revenues and profit while strategic objectives refer to the firm’s business position (competitive advantage, market position, reputation). You may also see  strategic planning checklist examples.

2. Environmental scanning

Environmental scanning refers to the analysis conducted by the organization in both its internal and external environment. An environmental scan involves three functions: internal analysis of the firm, general analysis of the firm’s industry, and analysis of the external macroenvironment.

Firms usually conduct a SWOT analysis to analyze both the internal and external environment. The SWOT analysis identifies the organization’s internal strengths and weaknesses, as well as external opportunities and threats.

PESTLE analysis and Porter’s five forces can both be used to analyze the firm’s external macroenvironment. PESTLE analysis identifies the firm’s political, economic, social, technological, legal, and environment situation while Porter’s five forces create a detailed analysis of the firm’s direct competitors. You may also like sales strategic plan examples.

3. Strategy formulation

Based on the results of the environment scan, strategies must be formulated not only to capitalize on the strengths and opportunities but also to remedy the weaknesses and threats that were identified.

The purpose of strategy formulation is to gain a competitive advantage as well as achieve long-term sustainability. Organizations will find it difficult to achieve a large market share if they don’t use strategies to maximize their strengths and weaknesses and eradicate their weaknesses and threats. You may also view the  recruitment strategic plan examples.

4. Strategy implementation

The strategies being identified are then implemented using programs, budgets, and procedures. Implementation involves the organization of the firm’s limited resources as well as staff motivation to achieve the firm’s objectives and goals .

Proper implementation of a chosen strategy is crucial for the company to achieve its objectives. Even if the company identified the right strategy but failed in the implementation, it still deems the strategy useless. That is the reason why every individual in the organization should work collectively for the organization to achieve its objectives and goals. You might be interested in browsing through our  one-page strategic plan examples.

5. Evaluation and control

Even if the strategy was not properly implemented, it can still be fixed through evaluation and control. The strategic implementation does not go according to the  general plan every time, especially if the firm deals with threats they cannot control (i.e., implementation of new government policies, natural calamities that halted company operations, etc.).

As long as organizations don’t incur high costs and make the same mistakes multiple times, then they are still on the right track to achieve their goals.

Evaluation and control consist of the following steps:

  • defining parameters that need to be measured
  • performing measurements
  • comparing measured results to previous standards
  • making necessary changes

Business Strategic Plan Framework Summary Example

business strategic plan framework summary example

Size: 428 KB

Focus Strategic Plan Example

focus strategic plan example1

Size: 69 KB

Free Strategic Plan Template Example

free strategic plan template example1

Size: 73 KB

Executive Summary for Strategic Plan Example

executive summary for strategic plan example1

Size: 46 KB

Companies Who Successfully Used Strategic Planning

1. microsoft.

The company that started in a garage in 1975 is now the largest computer manufacturer in the world and employs around 100,000 full-time personnel. A few years after Microsoft was founded, the company launched its own system, the MSDOS. Unfortunately, it was only available on Microsoft’s platform. The company partnered with tech giants IBM and Intel to increase its reach in the market, then the rest is history. You may also see personal strategic plan examples.

Microsoft’s network grew bigger and faster. Numerous participants teamed up with Microsoft and eventually, the interactions among participants evolved into complex webs of collaboration, not just within the company but also among groups of different players (business partners, investors, and third-party developers). You will also find our  health and safety strategic plan examples highly useful.

Today, the company is worth $560 billion (USD) and might even reach $1 trillion by 2020 according to Wall Street analysts.

2. Exxon Mobil

The world’s largest oil company was not always in the position it is in today. Exxon Mobil is a result of a merger between two oil companies, Exxon and Mobil.

The company produces 3.9 million BOE (barrels of oil) every day, easily beating out the other “Big Oil” companies or supermajors which include BP plc (England), Chevron Corporation (USA), Royal Dutch Shell plc (Netherlands), Total SA (France), and Eni SpA (Italy). Our  club strategic plan examples will also come in handy for you.

The company currently has 100,000 employees and also earned $237 billion (USD) in 2017, the largest revenue for any oil company in the world.

Apple, similar to Microsoft, also started in a garage. The first innovator of smartphones introduced to the world the Apple iPhone. Since then, smartphone manufacturers directed all their efforts in beating out the company that earned an average of $150 billion from 2010–2013 alone. You might be interested in the  HR strategic plan templates .

Apple is not only famous for producing smartphones. It began as a company selling computers. If Apple is the first innovator of smartphones, did you know it was also the first innovator of personal computers when it introduced the Macintosh in 1984? Back then, Microsoft could not keep up with Apple in the technology and functionality that the original Mac provided. You may also see five-year strategic plan examples.

Even if the sales of the iPhone have decreased in recent years, the company still earned a massive $230 billion (USD) in 2017. It also employs around 66,000 full-time software designers, developers, graphic artists, and marketing personnel.

4. Facebook

Facebook started as a school experiment in 2004, as well as a prank from the company’s founder to get revenge on his ex-girlfriend. After a few years, it forced existing social media platforms at that time to close down while continuing to add features to make the website more convenient and accessible for users (chat, user location, comments and likes, games) as well as business entities (business page, advertisements) to use.

Even today, Facebook still controls the majority of the social media environment, especially after it acquired the photography app Instagram.

The company currently has around 1.80 billion daily active users, with whom 80% are located outside the US and Canada. Facebook had an annual revenue of $40.7 billion (USD) for 2017 alone, easily beating out the $7 billion average revenue it achieved in the five previous years. Facebook also has a current workforce of 15,000 employees. You may also like security strategic plan examples.

5. China Mobile

China Mobile is not the only the largest telecommunication corporation in China but is also the largest mobile phone operator in the world, with over 900 million subscribers as of June 2018. China Mobile’s core subsidiary “China Mobile Limited” is listed in both the New York Stock Exchange (NYSE) and the Hong Kong Stock Exchange (SEHK). You may also take a look at our  procurement strategy plan examples.

China Mobile is a state-owned corporation that was born as a result of a breakup from other telecom giants China Telecom. Since then, China Mobile has dominated the country’s telecom market, controlling 70% of the market share while China Unicom and China Telecom share the remaining spoils. Feel free to also view some of our  community strategic plan examples.

China Mobile tallied a total of $102 billion (USD) in revenues for 2016 and currently employs half a billion employees.

The tech giant that was founded on Japanese philosophies kaizen (continuous improvement) and 5S (sort, set in order, shine, standardize, sustain) possess a diversified business portfolio that is incomparable to other conglomerates.

Its portfolio includes electronics (Xperia, Alpha, Bravia), gaming (Playstation, Playstation VR), entertainment (Sony Pictures Entertainment), and financial services (Sony Life, FeliCa). It is no surprise that all of Sony’s products are market leaders in their respective industries. You may also see school strategic plan examples.

Sony was founded in 1946 and has produced devices that have also been associated with pop culture. You may have heard of (or even used) the Walkman, Discman, TR-55 Transistor Radio, and the classic Betamax. After seeing a drop in revenue for 2016 ($67 billion), Sony recovered big in 2017 earning $77 billion (USD) in total revenues. The Japanese conglomerate has a current workforce of 128,000 employees. You may also like restaurant strategic plan examples.

7. Johnson and Johnson

Johnson and Johnson is the largest pharmaceutical company in the world. Aside from its headquarters in New Jersey, USA, it has corporate offices in England, Singapore, South Africa, Canada, Brazil, China, and the Philippines, to name a few.

Johnson and Johnson has three main divisions under its umbrella: consumer healthcare (baby care, skin and hair care, wound care and topicals, oral health care, women’s health, nutrition), medical devices (sterilization products, Animas Corp., Biosense Webster, DePuy Sythes, Ethicon Inc.), and pharmaceuticals (Janssen). You may also go through our  audit strategic plan examples.

The conglomerate began in 1885 after the Johnson brothers (James, Robert, and Edward) decided to manufacture and sell ready-to-use surgical dressings. Johnson and Johnson then ventured into consumer healthcare in the 1950s and eventually pharmaceuticals in the 1960s (thus, the inception of Janssen). The US-based company currently employs 125,000 employees and tallied a total revenue of $75 billion (USD) in 2017. We also a collection of  maintenance strategy plan examples that you can take a look at.

Strategic Plan for NGO Example

strategic plan for ngo example

Size: 151 KB

Strategic Plan for Retail Business Example

strategic plan for retail business example1

Size: 72 KB

Strategic Process for Strategic Plan Example

strategic process for strategic plan example1

Size: 60 KB

Creating a business strategic plan is not difficult. You just have to do extensive research and analyze the correct data before drafting it in your  simple strategic plan .

We hope you found this article to be informative as well as help when you will be writing your business strategic plan.

business strategic plan example

AI Generator

Text prompt

  • Instructive
  • Professional

10 Examples of Public speaking

20 Examples of Gas lighting

Google Translate

Original text

Google Translate

When preparing for the future of your business, you should be aware of the importance of strategic plans to help keep your business on track.

Know the differences between a strategic plan and a business plan.

A  business plan  focuses on the viability of a company and typically covers no more than the upcoming year. Business plans are also regularly used in the  beginning stages of starting a business  and can include obtaining funding and developing all aspects of the business before getting started. During this stage, you must investigate the market and establish realistic financial goals to create your business plan.

A strategic plan, on the other hand, is more conceptual and dynamic. It serves as a roadmap for your small business to reach its goals. It allows you to gauge your company’s performance,  strengths, and weaknesses  over time. By revisiting the plan regularly, you can analyze and update marketing, sales, product development, operational, and revenue goals to achieve your desired results.

Write Your Mission Statement

The first step in creating your strategic plan is to write your company  mission statement . Your mission statement can range from a sentence to multiple paragraphs, but it should convey your company’s purpose to customers, employees, and the community.

When developing a mission statement, ensure the statement will answer the following questions:

  • What is your small business? What type of organization are you creating?
  • What are your products or services?
  • What are your target markets?
  • Who is your ideal client?
  • Who is your ideal employee? What are the desired skills in team members?
  • What are your long-term goals?

After answering these questions, develop a succinct message that can be easily digested by anyone who reads it.

Set Aside Time to Re-evaluate Your Plan

To create or update your strategic plan, evaluate current operations. Periodically, you should take inventory of your business and see where you’re heading, what’s working, and what’s not. When re-evaluating your plan, focus on the following six areas to determine the state of your small business:

  • Your Clients

Who are your current customers? How would you describe your relationships with them? Who are your  prospective  customers? How can you attract them?

How to use this information:  Develop new products for your ideal customers, discover new ways to connect to customers, or change up your marketing efforts.

  • Your Products or Services

What are your products and services? How are they unique? What are their benefits? Which are not selling well? What are your plans for the underperformers? Do you hear any frequent requests from customers?

How to use this information:  Determine what products or services should stay in your lineup, which should leave, and what you can add to create a better experience for customers.

  • Your Financial Performance

 After reviewing past financial statements, are your sales growing? What is one thing you could change to improve performance? How can you achieve that goal?

How to use this information:  Take a close look at your sales to determine where you can either increase revenue or cut back on expenses in order to create a better return on investment.

  • Your Operations

Is your business running smoothly? Do employees complain about ineffective processes? How can you streamline operations? Are there affordable technological solutions?

How to use this information:  Talk to your employees about ways the business can be streamlined. Creating a better work environment often leads to happier, more productive employees.

  • Your Competitive Edge

What makes your company unique? Consider your culture, location, resources, staff, technology, and pricing.

How to use this information:  Discover what makes your company stand out and use those qualities to showcase why your company is so special.

  • Your Environment

What external factors, such as investors, influence your business? Who are your competitors? How do they affect your business?

How to use this information:  Knowing what outside factors can influence your business changes how you do business. Recognize when competitors are doing something unique and stay ahead of the curve.

Determine and Implement Goals

After creating or re-evaluating your plan, you will notice potential areas of improvement. Pick your top 3 or 4 feasible goals. Goals are either  qualitative , such as providing better customer service, or  quantitative , such as increasing profits by 5%. They are usually focused on general performance, financial performance, operations, and deadlines.

With your list of objectives in hand, how will you achieve them? A good technique to examine the best solutions is scenario analysis. This entails asking “if-then” questions—if I change X, then what is the outcome? You and your team can perform a scenario analysis of each action and write the possible outcomes. These techniques will guide you to create your new strategic plan.

To learn more, watch the online workshop “ Creating a Strategic Plan .” For more guidance geared to your business, connect with a  SCORE mentor . And check out our other  free resources  on strategy and planning.

Creating A Strategic Plan This free online workshop provides the components needed to implement a strategic plan, such as a mission statement, goals, objectives and an action plan.

Does Your Small Business Have a Strong Mission and Vision? Starting a business takes more than just spreadsheets, projections and an idea. It takes commitment, passion and a clear mission, vision and values

Copyright © 2023 SCORE Association, SCORE.org

Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.

LiveChat

Cart

  • SUGGESTED TOPICS
  • The Magazine
  • Newsletters
  • Managing Yourself
  • Managing Teams
  • Work-life Balance
  • The Big Idea
  • Data & Visuals
  • Reading Lists
  • Case Selections
  • HBR Learning
  • Topic Feeds
  • Account Settings
  • Email Preferences

How Fast Should Your Company Really Grow?

  • Gary P. Pisano

business strategic plan example

Growth—in revenues and profits—is the yardstick by which the competitive fitness and health of organizations is measured. Consistent profitable growth is thus a near universal goal for leaders—and an elusive one.

To achieve that goal, companies need a growth strategy that encompasses three related sets of decisions: how fast to grow, where to seek new sources of demand, and how to develop the financial, human, and organizational capabilities needed to grow. This article offers a framework for examining the critical interdependencies of those decisions in the context of a company’s overall business strategy, its capabilities and culture, and external market dynamics.

Why leaders should take a strategic perspective

Idea in Brief

The problem.

Sustained profitable growth is a nearly universal corporate goal, but it is an elusive one. Empirical research suggests that when inflation is taken into account, most companies barely grow at all.

While external factors play a role, most companies’ growth problems are self-inflicted: Too many firms approach growth in a highly reactive, opportunistic manner.

The Solution

To grow profitably over the long term, companies need a strategy that addresses three key decisions: how fast to grow (rate of growth); where to seek new sources of demand (direction of growth); and how to amass the resources needed to grow (method of growth).

Perhaps no issue attracts more senior leadership attention than growth does. And for good reason. Growth—in revenues and profits—is the yardstick by which we tend to measure the competitive fitness and health of companies and determine the quality and compensation of its management. Analysts, investors, and boards pepper CEOs about growth prospects to get insight into stock prices. Employees are attracted to faster-growing companies because they offer better opportunities for advancement, higher pay, and greater job security. Suppliers prefer faster-growing customers because working with them improves their own growth prospects. Given the choice, most companies and their stakeholders would choose faster growth over slower growth.

Five elements can move you beyond episodic success.

  • Gary P. Pisano is the Harry E. Figgie Jr. Professor of Business Administration at Harvard Business School and the author of Creative Construction: The DNA of Sustained Innovation (PublicAffairs, 2019).

Partner Center

SharpSheets

General Practice Business Plan PDF Example

Avatar photo

  • February 22, 2024
  • Business Plan

the business plan template for a general practice

Creating a comprehensive business plan is crucial for launching and running a successful general practice. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your general practice’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a general practice business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the healthcare industry, this guide, complete with a business plan example, lays the groundwork for turning your general practice concept into reality. Let’s dive in!

Our general practice business plan is designed to encapsulate all fundamental components essential for a robust strategic framework. It details the clinic’s healthcare services, marketing plans, market conditions, competitive analysis, organizational hierarchy, and financial projections.

Here are the primary sections of our General Practice Business Plan:

  • Executive Summary : Offers an overview of your General Practice’s business concept, market analysis, management team, and financial strategy.
  • Practice & Location: Describes the practice’s facility, amenities, medical equipment, and the strategic significance of its location for patient accessibility.
  • Services & Pricing: Lists the healthcare services your practice will provide, such as routine check-ups, preventive care, and chronic disease management, along with a pricing structure or insurance affiliations.
  • Key Stats : Shares relevant statistics about the general healthcare market, such as potential patient demographics, community health profiles, and healthcare spending trends.
  • Key Trends: Highlights significant trends in healthcare that impact General Practices, like technological advancements in patient care, regulatory changes, and patient preference shifts.
  • Key Competitors: Analyzes the main healthcare providers in the vicinity and differentiates your practice from them based on services, patient care quality, and operational efficiency.
  • SWOT: Conducts a Strengths, Weaknesses, Opportunities, and Threats analysis to understand the internal and external factors influencing the practice.
  • Marketing Plan: Describes strategies for patient acquisition and retention, including digital marketing, community outreach, and patient referral programs.
  • Timeline: Sets key milestones and objectives from the practice’s establishment through the first year of operation, including critical stages like licensing, staff hiring, and service launch.
  • Management: Provides information about the individuals managing the General Practice, detailing the backgrounds, roles, and expertise of the lead physicians and administrative team.
  • Financial Plan: Projects the practice’s 5-year financial outlook, covering revenue streams, cost structure, profitability forecasts, and funding requirements.

the business plan template for a general practice

General Practice Business Plan

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

The Executive Summary serves as the gateway to your General Practice’s business plan, providing a succinct outline of your medical practice and the healthcare services it offers. It will highlight your practice’s market positioning, detailing the comprehensive range of general healthcare services provided, its location, size, and a snapshot of daily operations.

This section will also delve into how your General Practice will assimilate into the local healthcare market, including an analysis of direct competitors in the vicinity, identifying who they are, and pinpointing your practice’s distinctive selling points that set it apart from these competitors.

Moreover, it’s important to include insights about the management and founding team, elaborating on their roles and how they contribute to the practice’s success. Additionally, a synopsis of your financial forecasts, encompassing revenue and profit expectations over the next five years, should be included to offer a clear view of your practice’s financial strategy.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

General Practice Business Plan executive summary1

Dive deeper into Executive Summary

Business Overview

For a General Practice, the Business Overview section can be effectively organized into 2 main parts:

Practice & Location

Briefly describe the physical setup of your medical practice, focusing on how the space is designed for comfort and efficiency, ensuring a welcoming and professional atmosphere for patients. Mention the location of your practice, emphasizing how easy it is for patients to get there, such as its closeness to community centers or the availability of parking. Explain why this location is particularly good for reaching your intended patient group.

Services & Pricing

Detail the variety of medical services your practice offers, ranging from routine health check-ups and vaccinations to more specialized care such as chronic disease management, pediatric care, or women’s health services. Discuss your pricing strategy, making sure it aligns with the quality of care you provide and is competitive within the local healthcare market. Highlight any special offerings, such as health plans, preventive care packages, or loyalty discounts, that add extra value for your patients, promoting ongoing engagement and patient loyalty.

Make sure to cover here _ Practice& Location _ Services & Pricing

business strategic plan example

Market Overview

Industry size & growth.

In the Market Overview of your General Practice business plan, begin by exploring the size of the healthcare industry, particularly focusing on general medical services, and its growth potential. This analysis is crucial for understanding the broad scope of the healthcare market and pinpointing areas for potential expansion.

Key market trends

Next, delve into the current trends within the healthcare sector, such as the growing demand for holistic and preventive healthcare, the integration of technology in patient care (telehealth, electronic health records, etc.), and a heightened focus on patient-centered services. Highlight the increasing preference for practices that offer comprehensive care plans, the use of digital tools for better health management, and the importance of accessibility and convenience in healthcare services.

Key competitors

Then, analyze the competitive landscape, which may include a variety of healthcare providers from large medical centers to smaller, specialized practices, as well as emerging telehealth services. Focus on what sets your General Practice apart, whether it’s through superior patient care, a broad range of services, or a focus on particular areas of healthcare. This section should clarify the demand for General Practice services, the competitive environment, and how your practice is uniquely positioned to succeed in this evolving market.

Make sure to cover here _ Industry size & growth _ Key competitors _ Key market trends

General Practice Business Plan market overview

Dive deeper into Key competitors

First, carry out a SWOT analysis for your General Practice, identifying Strengths (such as experienced medical staff and comprehensive healthcare services), Weaknesses (like limited operating hours or high patient wait times), Opportunities (for instance, growing awareness and demand for preventive healthcare services), and Threats (such as changes in healthcare regulations or increased competition from other medical practices).

Marketing Plan

Then, devise a marketing strategy that details how to draw in and keep patients through focused advertising, health awareness campaigns, an active online presence, and participation in community health events.

Lastly, establish a detailed timeline that marks important steps for the General Practice’s launch, marketing activities, patient base development, and goals for growth, ensuring the practice progresses with a clear and deliberate strategy.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

General Practice Business Plan strategy

Dive deeper into SWOT

Dive deeper into Marketing Plan

The Management section focuses on the general practices’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the general practice toward its financial and operational goals.

For your general practice business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

General Practice Business Plan management

Financial Plan

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your general practice’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your general practice business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

General Practice Business Plan financial plan

Privacy Overview

IMAGES

  1. Strategic Planning Template

    business strategic plan example

  2. Business Strategic Plan

    business strategic plan example

  3. 9 Free Strategic Planning Templates

    business strategic plan example

  4. FREE 25+ Strategic Plan Templates

    business strategic plan example

  5. Strategic Plan Template

    business strategic plan example

  6. 32 Great Strategic Plan Templates to Grow your Business

    business strategic plan example

VIDEO

  1. Annual Business Planning Workshop with Rhonwyn

  2. Strategic Planning: Business Plan in 1 Minute

  3. strategic business unit

  4. Importance of Planning in Business

COMMENTS

  1. PDF How to write a strategic plan

    Sample Strategic Plans Q & A About me Adjunct Lecturer at HKS Two decades' experience in the nonprofit and philanthropic sector, designing and leading large global and national initiatives and organizations Board experience on boards and advisory boards www.sushmaraman.com www.linkedin.com/in/sushmaraman

  2. Strategic Planning Samples

    Sample Strategic Plans Strategy is more than simply achieving business goals. It creates clarity, alignment and organization-wide engagement. We've assembled a handful of sample strategic plans. Some are from our clients. Others are just examples.

  3. Quick Guide: How to Write a Strategic Plan

    Managing Work Strategic planning The Complete Guide to Writing a Strategic Plan Get free Smartsheet templates By Joe Weller | April 12, 2019 (updated January 31, 2024) Writing a strategic plan can be daunting, as the process includes many steps.

  4. How To Write A Strategic Plan That Gets Results + Examples

    3 Strategic Plan Examples To Get You Started How To Achieve Organizational Alignment With Your Strategic Plan Quick Overview of Key Steps In Writing A Strategic Plan Create An Execution-Ready Strategic Plan With Cascade 🚀 *Editor's note: This article is part of our 'How to create a Strategy' collection.

  5. Examples of a Strategic Plan to Achieve Long-Term Growth

    Examples of Strategic Plans Get Your Strategic Planning Done on Ninety What is Strategic Planning? Strategic planning is the process you use to: Establish and document a clear direction for your organization. Identify business goals and set priorities that create growth for your company.

  6. A Really Helpful Strategic Planning Example

    The best examples of good strategic plans all set clear priorities for an organization and focus employees and resources on established goals. While a strategic plan does share common elements with a business plan, or even execution plan, it is very distinct from both of those things.

  7. What is strategic planning? A 5-step guide

    A 5-step guide Julia Martins January 23rd, 2024 11 min read Jump to section Summary 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.

  8. How to write a strategic plan

    Strategic planning is about finding a short list of the highest-impact projects. It's a filter.". The section is generally 10 to 15 pages long and includes these elements: Corporate directions — a broad overview of what you need to do to achieve your goals. Strategic priorities — a list of your main projects.

  9. The Ultimate List of Strategic Planning Templates (2024)

    This is where Visme comes in handy. In this article, we've rounded up 30 strategic planning templates you can use in your business. From strategic business plans to sales, HR, financial and project plans, each template is crafted to help you chart courses that drive long-term business success.

  10. Strategic Business Plan Template for 2024 Sample

    Strategic Business Plan Template for 2024 Sample - PandaDoc Example Templates available Strategic Plan Template Created by: [Sender.FirstName] [Sender.LastName] [Sender.Title] [Sender.Company] [Sender.Phone] [Sender.Email] Prepared for: [Client.FirstName] [Client.LastName] [Client.Title] [Client.Company] [Client.Phone] [Client.Email]

  11. Free Strategic Plan Template and Best Practices

    The most popular types of strategic plans include Porter's Five Forces, SWOT analysis, PEST model, VRIO, OKRs, Gap planning, Balanced Scorecards, and Blue Ocean Strategy. The primary purpose of a strategic plan is to provide guidance and keep an organization focused on its objectives.

  12. What To Include in a Strategic Business Plan (With Template)

    1. State information that defines the company One of the first things a strategic business plan should identify is the company's mission and the principles and values that guide the decision making of the organization. The company's mission statement should explain what the business is trying to achieve long-term.

  13. 3 Business Strategy Examples to Inspire Your Own

    3 Business Strategy Examples to Inspire Your Own 03 Nov 2022 Kate Gibson Contributors Business Strategy Strategy Successful businesses often change the way the world lives. Consider Apple, Google, and Netflix and the immense value each offers customers.

  14. The 7 Best Business Strategy Examples I've Ever Seen

    Tesla - Playing the long game. Airbnb - Forgetting all about scalability. Toyota - Humility can be the best business strategy. HubSpot - Creating an industry then dominating it. Apple - iPhone launch shows tremendous restraint. PayPal - Daring to challenge the status quo. Spotify - Changing the rules of the music industry.

  15. 10 Business Strategy Examples (And Why It Helps To Have One)

    1. Vision and business objectives A business strategy is intended to help you reach your business objectives. With a vision for the direction of the business, you can create clear instructions in the business strategy for what needs to be done and who is responsible for completing each step. 2. Core values

  16. 4 Examples of a Strategy Plan

    Develop 20 new products for market testing. Select and launch 3 new products. Product managers to grow sales of existing products by at least 20% with promotion and product updates. Launch three new ice cream products by Q2. Update products and aggressively promote sales into the summer season.

  17. Strategic Plan Examples

    Looking for Strategic Plan Examples? Having a strategic plan is essential for any business or organization's growth. A well-crafted plan can make all the difference in the success of your venture. It helps you have a realistic vision for the future and maximize the company's potential.

  18. 9 business strategy examples (and why you need one ASAP)

    07. Acquisition. Acquisition is a business strategy that involves purchasing another company (or companies) to fuel growth, expand market share or be more competitive. Acquisition can be a game-changer for your business, allowing you to quickly tap into new markets, acquire valuable assets and eliminate competition.

  19. Write your business plan

    Include your mission statement, your product or service, and basic information about your company's leadership team, employees, and location. You should also include financial information and high-level growth plans if you plan to ask for financing.

  20. 22+Business Strategic Plan

    Simple Strategic Business Plan Example Details File Format Google Docs MS Word Pages Size: A4, US Download If you want to outline the necessary strategies on how you can achieve your goals for your business, then you can make use of this "Strategic Business Plan" template that has pre-existing content.

  21. Simple Business Plan Template (2024)

    This section of your simple business plan template explores how to structure and operate your business. Details include the type of business organization your startup will take, roles and ...

  22. How to Craft a Strategic Plan

    Business plans are also regularly used in the beginning stages of starting a business and can include obtaining funding and developing all aspects of the business before getting started. During this stage, you must investigate the market and establish realistic financial goals to create your business plan. A strategic plan, on the other hand ...

  23. PDF Strategic Plan

    The following are the overall objectives guiding Company ABC strategic direction: Define the mission, vision and values of Company ABC in support of education and the State Plan. Identify the service areas and define the commitment to service levels Company ABC will provide to its customers.

  24. SWOT Analysis: How to Do It + 4 Examples

    Discover the power of strategic planning and gain a competitive advantage. Learn how to perform a SWOT analysis effectively with 4 examples. Discover the power of strategic planning and gain a competitive advantage. ... Conducting a preliminary SWOT analysis can identify competitive strategies and help build a strong business model. For example ...

  25. How Fast Should Your Company Really Grow?

    How Fast Should Your Company Really Grow? 02. Create a System to Grow Consistently. 03. How to Succeed in an Era of Volatility. Summary. Growth—in revenues and profits—is the yardstick by ...

  26. 2024 Digital Marketing Strategy Guide

    A digital marketing strategy is a plan that gets a product or brand in front of potential customers. ... Goals should also support your business objectives. An example of a digital marketing goal ...

  27. General Practice Business Plan PDF Example

    Business Plan. Creating a comprehensive business plan is crucial for launching and running a successful general practice. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your general practice's identity, navigate the competitive market, and secure funding for growth.