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Strategic Planning Autosaved

The document discusses strategic planning for small businesses. It describes strategic planning as documenting a business's direction by assessing its current position and future goals. A strategic plan establishes a company's mission, vision, values, long-term goals, and action plans. The document outlines the benefits of strategic planning, misconceptions about it, phases in the process, and keys to successful implementation like communication and leadership. It emphasizes analyzing strengths, weaknesses, opportunities, and threats, as well as reviewing collected data, to build a solid strategic plan.

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Keight
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66 views20 pages

Strategic Planning Autosaved

The document discusses strategic planning for small businesses. It describes strategic planning as documenting a business's direction by assessing its current position and future goals. A strategic plan establishes a company's mission, vision, values, long-term goals, and action plans. The document outlines the benefits of strategic planning, misconceptions about it, phases in the process, and keys to successful implementation like communication and leadership. It emphasizes analyzing strengths, weaknesses, opportunities, and threats, as well as reviewing collected data, to build a solid strategic plan.

Uploaded by

Keight
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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STRATEGIC PLANNING

GROUP 6
STRATEGIC PLANNING

The process of documenting and establishing a direction


of your small business-by assessing both where you are
and where you’re going. The strategic plan gives you a
place to record your mission, vision, and values, as well as
your long-term goals and the action plans, you’ll use to
reach them
Benefits of Strategic
Planning
• Communicating your
STRATEGIC Strategic Plan
PLANNING • Increase Productivity
• Identifying Strengths and
weaknesses
STRATEGIC PLANNING MISCONCEPTIONS

• Only big business need a strategic plan


• Only business owners need to know the plan
• Strategic plans prevent innovation and
creativity
STRATEGIC PLANNING

You can Team effort


succeed Team building
in Flexibility
strategic Adaptability
plannin
Patience
g by:
Optimistic
WHERE DID WE GO WRONG AFTER WE STARTED
OUT ALRIGHT

POOR LACK OF USING WRONG


COMMUNICATION LEADERSHIP MEASURES
Phases: STRATEGIC
PLANNING

Discussion Phase

Development Phase

Review and Updating Phase


STRATEGIC IMPLEMENTATION

Critical actions move a strategic plan from a document that sits


on the shelf to actions that drive business growth.

Implementations is the process that turns strategies and plans into


actions in order to accomplish strategic objectives and goals.
Lack of ownership

Lack of communication
COMMON
REASONS WHY
STRATEGIC PLAN An overwhelming plan
FAILS
A meaningless plan

Not considering implementation

Lack of empowerment
• How do you plan to communicate the plan throughout
STRATEGIC the company?
IMPLEMENTATIO
• How are you going to motivate your people?
N
COVERING ALL • How will you take available resources and achieve
YOUR BASES maximum results with them?
PEOPLE
STRATEGIC RESOURCES
IMPLEMENTATIO
N STRUCTURE
SYSTEMS
CULTURE
STRATEGIC IMPLEMENTATION

FINALIZE YOUR ALIGN YOUR ROLL OUT YOUR SET UP SET UP ANNUAL
STRATEGIC PLAN BUDGET TO PLAN MONTHLY STRATEGIC
ANNUAL GOALS STRATEGY REVIEW DATES
MEETINGS
FUNDAMENTAL STRATEGIES

The purpose of strategic planning is to set the


overall goals for your business and to develop a
plan to achieve them. Having a good strategy
dictates “how” you travel the road you have
selected, and effective execution makes sure you
are checking in along the way.
FUNDAMENTAL STRATEGIES STEPS

Determine Determine Organizational Readiness

Develop Develop Your Team & Schedule

Build Build your plan on solid strategic analysis

SWOT SWOT analysis STEEPLE analysis

Review Review collected data:


STEP 1: DETERMINE ORGANIZATIONAL
READINESS
• An organizational readiness assessment is an official measurement of the
preparedness of your company to undergo a major change or take on a
significant new project. You don’t want to jump into a big change or
project without knowing if your company has the resources to accomplish
it effectively.
• Conducting an organizational readiness assessment gives you the
knowledge and assurance that your company’s proposed endeavor will be
successful if you decide to go ahead and do it. It can also save your
company’s reputation by allowing you to avoid a potentially high-profile
failure for engaging in a project you were not ready to complete.
STEP 2: DEVELOP YOUR TEAM &
SCHEDULE
• Developing your team is an important part of your
job, whether you're a new team leader or an
experienced manager. And it doesn't apply only to
new hires. People need training and support
throughout their careers, both as individuals and as
teams, to develop their skills and continue to work
effectively.
• SWOT ANALYSIS

Four elements:
• strengths
• Weaknesses
STEP 3: BUILD • opportunities
YOUR PLAN • threats

ON SOLID STEEPLE ANALYSIS

STRATEGIC Components:

ANALYSIS • Social
• Technological
• Economic
• Environmental
• Political
• Legal
• ethical
What A Written Strategic
STEP 3: Plan Should Include
BUILD • Analysis of internal drivers
YOUR • Analysis of external drivers
PLAN ON
SOLID • Vision Statement
STRATEGIC • Top-level objectives
ANALYSIS • Implementation
• Resourcing
STEP 4: REVIEW COLLECTED DATA
IGNORING STRATEGIC PLANNING

1. achieved results : items we planned to achieve and achieved

2. unachieved results : items we planned to achieve and did not achieve

3. emergent results : items neither planned or unplanned, they were discovered through progress

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