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The other important component of a strategic plan is an environmental scan, which reveals potential threats of the company as well as strengths.
The other part of strategic planning is strategy implementation, which involves using the company resources to ensure that its objectives are achieved. Make your plan logical and be sure that it matches your business’ strengths and market-place opportunities – it will make all the decision making so much easier.
All this analysis, examination and planning may seem boring, irrelevant or cumbersome but it will allow you to worker smarter and not harder, and will really, truly increase the likelihood of your business not only surviving, but also thriving and prospering.   How important is that?
To develop a good strategy, the first step is to do the analyses, understand the policies that got you here, and then, in your Strategic Plan, layout the actions that are necessary to move the organization to a better place, that of overcoming its high stakes challenge(s). Looking at the Elements of A Strategic Plan slides, you can see how Vision cascades down to actions that are inter-connected. The slides below show how the elements of a Strategic Plan fit together- an easy way to visually identify what goes where and why. An effective strategic planning process enables companies to take control of their future and remain focused on the critical areas that will result in sustained periods of growth and success. By definition, strategic planning is a process by which an organization’s leaders define and implement the strategy to achieve the company’s fundamental purpose.


Especially with small entrepreneurial organizations, senior leaders have little time to spend on anything that doesn’t provide clear benefit. To be effective, it is necessary to clarify and understand the expectations of the planning process. Although the depth, frequency, and specific process used will differ for every company, there are some basic elements that greatly increase the chance of success.
Also included in an effective process are key indicators, which measure the organization’s success in achieving the objectives.
Develop key objectives to be completed over the following 1-3 years (depending on the organization’s normal planning horizon). Take action when necessary (based on the review) to get the organization back on track toward achieving its key objectives.
The steps presented above require a lot of reflection and discussion in order to assure that the plan and associated actions address what is critical for the company. Exhibit 2 presents an example of the one-page plan for ABC Products Company resulting from carrying out the process.
The one-page plan is a simple document that communicates the work of many hours of work by the senior leadership team.


Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Clipping is a handy way to collect and organize the most important slides from a presentation. A strategic plan includes having a mission statement that describes the vision of the company.
Strategic formulation is another important part of planning strategically which seeks to enable the company to attain much needed profits and to be superior to its competitors. This ensures that each policy supports its intentions, and each action moves the organization closer to achieving its goals every day. With the guidance if the vision the company states its objectives as part of strategic planning process. The last part of strategic planning is evaluation since for a plan to be successful it has to be monitored.



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