Steps to Strategic Planning Part 1

WHAT IS STRATEGIC PLANNING?
Let's start with the current Wikipedia definition:  "Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy.  It may also extend to control mechanisms for guiding the implementation of the strategy. Strategic planning became prominent in corporations during the 1960s and remains an important aspect of strategic management."
 
WHY DO WE NEED STRATEGIC PLANNING?
Organizations are constantly changing as is the world around us. Those changes can include market conditions, technology, political and legislative conditions, new opportunities, and evolving customer needs.

Strategic Planning:

• Sets direction for the organization
• Where the organization is headed
• Short- and long-term performance targets
• Actions for management and staff to achieve outcomes
• Allows managers and staff to understand and work towards this direction
• Focuses effort
• Defines the organization
• Provides consistency
• Ensures resources and energies are allocated properly

Strategic Planning must include consideration for:

• Operating the Business
• The Organization’s Competitive Position
• Meeting Customer’s Needs & Expectations
• Achieving Performance Targets

Until next time...






Sheryl Tuchman, SPHR, SHRM-SCP
http://tools2succeed.com/