The Strategic Planning Process
Does your organization have a Strategic Plan? Not to be confused with a Business Plan, an Operational Plan or a Budget, the Strategic Plan is created to set the strategic direction of the organization.
Strategic Planning is an organizational process through which an entity plans its future within its chosen market and the ways it intends to compete against other companies providing similar solutions. The Strategic Planning process is designed to develop an understanding of:
• External context
• Strengths and weaknesses of the organization
• Needs of its customers
• Capabilities of competitors
This is then translated into a statement about the actions that the organization needs to take to fulfill its vision.