A strategic plan will include the components of a traditional plan, such as an executive summary, marketing analysis and financial statements, but a strategic plan will be more specific on how the company will go about achieving company goals.
For example, a strategic business plan will attempt to identify a target market, narrow it down to a manageable size, and establish a strategy for acquiring those customers.
But many fail to realize their vision and fail to deliver the expected strategic results.
Unfortunately, executive teams cannot pinpoint the reasons for this dilemma so they repeat the strategic planning cycle over and over, always hoping that the next strategic planning session will bring better results. In our experience, there are 5 critical factors that will ensure your strategic plans are successfully implemented. A key element in the process is the engagement of all levels of staff throughout the organization.
The plan is an organizational tool that helps to keep a company on track to meet growth and financial objectives.
Many small business owners feel that strategic business plans are for large companies and big businesses.
Staff engagement generates additional input and helps build their commitment to the end plan.
It is essential to involve employees in the planning of strategy and direction for the organization.
Employee’s input will: Strategic Planning processes are successful when a bottom up and top down communication approach is taken.
It starts off with a communication to all levels of employees informing them that a Strategic Planning process will be undertaken.