Log In

Explore the World's Best Ideas

Join today and uncover 100+ curated journeys from 50+ topics. Unlock access to our mobile app with extensive features.

1. Determine your strategic position

This preparation phase sets the stage for all work going forward. You need to know where you are to determine where you need to go and how you will get there.
Get the right stakeholders involved from the start, considering both internal and external sources.
Identify key strategic issues by talking with executives at your company, pulling in customer insights, and collecting industry and market data to get a clear picture of your position in the market and in the minds of your customers.
It can also be helpful to review—or create if you don’t have them already—your company’s mission and vision statements to give yourself and your team a clear image of what success looks like for your business.
In addition, you should review your company’s core values to remind yourself about how your company will go about achieving these objectives.
Document your organization's internal strengths and weaknesses, along with external opportunities (ways your organization can grow in order to fill needs that the market does not currently fill) and threats (your competition).

221

210 reads

MORE IDEAS ON THIS

2. Prioritize your objectives (cont.)

Prioritize your objectives by asking important questions such as:

Which of these initiatives will have the greatest impact when it comes to achieving our company mission/vision and improving our position in the market?
What types of impact are ...

219

229 reads

3. Develop a plan

Now it's time to create a strategic plan to successfully reach your goals. This step requires determining the tactics necessary to attain your objectives and designating a timeline and clear communication of responsibilities.
Strategy mapping is

219

143 reads

Use PEST Analysis

An alternative to a SWOT is PEST analysis. Standing for Political, Economic, Socio-cultural, and Technological, PEST is a strategic tool used to clarify threats and opportunities for your business.
As you synthesize this information, yo...

221

314 reads

Objectives and Goals

Objectives should be distinct and measurable to help you reach your long-term strategic goals and initiatives outlined in step one.
Potential objectives can be updating website content, improving email open rates, and new leads in the pipeline.

218

205 reads

5. Review and revise the plan

The final stage of the plan—to review and revise—gives you an opportunity to reevaluate your priorities and course-correct based on past successes or failures.
On a quarterly basis, determine which KPIs your team h...

216

129 reads

Master the strategic planning process steps

As you continue to implement the strategic planning process, repeating each step regularly, you will start to make measurable progress toward achieving your company’s vision.
Instead of always putting out fires, reacting to the competition, ...

215

184 reads

Use a SWOT Diagram

As a framework for your initial analysis, use a SWOT diagram.
With input from executives, customers, and external market data, you can quickly categorize your findings as Strengths, Weaknesses, Opportunities, and Threats (SWOT) to clarify your current position.

223

507 reads

What is Strategic Planning Process?

In the simplest terms, the strategic planning process is the method that organizations use to develop plans to achieve overall, long-term goals.
The strategic planning process is broad — it helps you create a roadmap for which strategic objective...

230

1.16K reads

4. Execute and manage the plan

Once you have the plan, you’re ready to implement it.
First, communicate the plan to the organization by sharing relevant documentation. Then, the actual work begins.
Turn your broader strategy into a concrete plan by mapping your proces...

218

138 reads

Over time you may find that your mission and vision need to change — an annual evaluation is a good time to consider those changes, prepare a new plan, and implement again...

217

205 reads

2. Prioritize your objectives

Once you have identified your current position in the market, it is time to determine objectives that will help you achieve your goals.
Your objectives should be in line with your company mission and vision.

220

334 reads

CURATED FROM

Strategic Planning Process Steps | Lucidchart Blog

lucidchart.com

12 ideas

·

3.75K reads

CURATED BY

Dymphna Lanjuran

@dymphna

Lawyer turned Artist Visionary Curator & Gallerist. Empowering self-love and joy through art & words. www.innerjoyart.com 💝 Instagram : dymphna.art

More like this

Get Buy-in From Your Executives

Getting buy-in from your CEO and executives before developing a strategy will ensure it reflects your company’s highest priorities.
Executive support of the strategy will communicate its importance to employees and other stakeholders.
The executive support will also help fa...

Your values will affect your company culture

A company’s Vision and Mission define where your company is going. Values define how you get there - for example, "openness."

Defining your values becomes the foundation for your company culture, directing the decisions you make, and the people you hire.

Velocity: Speed and direction

Change will never be right unless it aligns with what you want to get out of life.

Do you know where you want to go? There's no point just moving at speed without knowing where you want to go. When you articulate your desired direction, you give yourself a clear purpose in...

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates