Category

STRATEGY

Category

The strategic planning process focuses on specifying the organization’s overall objectives and achieving the desired results through structured planning regarding achieving these. It’s about setting business priorities, consolidating operations, focusing resources, driving stakeholders towards achieving common goals, and establishing agreement for intended outcomes. What used to be planning done for ten years is now done for two to three years while some organizations plan for a period of a year only, given the rapidly evolving business world. Strategic planning is a step-wise process through which strategic planning consultants determine how to draw the route to the end goal. While there may not be any absolute rules as far as the right framework is concerned, most businesses follow a similar pattern because of some commonly prevailing attributes. Steps of the Strategic Planning Process: Therefore, a simple strategic plan can be broken down into five simple steps: 1. Determine where you are…