What is Strategic Planning?
What is Strategic Planning?
In Wikipedia, Strategic planning is defined as an:
Organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. In order to determine the direction of the organization, it is necessary to understand its current position and the possible avenues through which it can pursue a particular course of action. Generally, strategic planning deals with at least one of three key questions:
- "What do we do?"
- "For whom do we do it?"
- "How do we excel?"
Strategic Planning Benefits
Strategic planning helps you and your organization to know where you are going, and how to get there. There isn’t one perfect way to carry out strategic planning in your organization. It is important to read different articles, look at how strategy planning is carried out in various organizations, and identify best practices and lessons learned. Above all, understand your culture, your market, your competition, your organization’s strengths and weaknesses, and design an approach that will work best for you.
Strategic Planning is Changing
The world of strategic planning and decision making is quickly advancing. Strategy is more important than ever. Also, being able to effectively implement in shorter time spans is vital. We have provided various articles on strategic planning that can help you think in your quest to help your organization succeed.
Definitions
Benefits
Failures
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