Growing a business means taking many decisions about the way you want to expand your operations. Creating a strategic plan is a key component of planning for growth. It will help you prepare a realistic vision for the future of your business and in doing so can maximise your business’ potential for growth.
Simply put, strategic planning is clarifying the overall purpose and desired results of an organization, and how those results will be achieved.
There are different ways to do that planning, depending on the purpose(s) of the planning, the life cycle or stage of development of the organization, the culture of people in the organization, types of issues the organization is currently facing, and the rate of change in the external environment of the organization.
The strategic planning process are the steps that you go through as an organization to determine:
- the direction of your organization (Vision)
- what you’re going to do and for whom (Mission)
- how to measure it and guide your strategy to get to where you want to be (Goals)
In this overview of the strategic planning process, we’ll go through the steps that we use to create and implement a strong strategic plan.
There are many different ways you can create a strategic plan, much like there are several different ways you can create a meal, and some may be more efficient than others.
We will share the process that we, at HumanLab’s Strategy, believe best prepares management teams with sufficient information and direction to create and implement their strategic plan.