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If someone asks a CEO of an organization why to develop a strategic plan, the response will likely be: “A strategic plan helps decision-makers determine where to spend time, human resources, and money to facilitate the goal achievement.” But what does ‘strategic’ really mean for a company? According to Wikipedia, strategy is a high-level plan to achieve one or more goals under conditions of uncertainty. It is a series of unique decisions stemming from some kind of analysis that will help you to get to a particular goal from a starting point.
The strategic planning process in a company consists of the following steps:
- Determining the company’s mission and objectives
- Environmental analysis of your business
- Strategic options generating
- Developing a roadmap for strategic planning
- Strategy implementation in your organization
- Evaluation and control processes
