Strategic Planning and Thinking

Strategic Planning and Thinking

 

What is a strategic plan?
A strategic plan is the formal roadmap that describes how a company executes its long term  strategy. A plan outlines where an organization is going over the next year or more and how it’s going to get there.

 

Visioning and Alignment
Find out what is corporate strategy, mission, vision and corporate values, the importance of each and why they are crucial to the success of a company.

 

8 Step strategic planning process
The 8 steps listed in this article will give you an overall view of the general actions that should be followed when putting together any strategic plan.

 

Assessing your mission statement
A mission statement is a statement of the company’s purpose or its fundamental reason for existing. The statement spotlights what business a company is presently in and the customer needs it’s presently striving to meet. To build a solid foundation for a successful business, it’s essential to have a written, clear, concise, and consistent mission statement. This statement should simply explain who you are and why you exist.

 

Evaluating your organizational values
More and more companies are articulating the core beliefs and values underlying their business activities. Strong values account for why some companies gain a reputation for such strategic traits as leadership, product innovation, dedication to superior craftsmanship, being a good company to work for, and total customer satisfaction.

 

Visioning: Forming a strategic vision
Forming a strategic vision should provide long-term direction, delineate what kind of enterprise the company is trying to become, and infuse the organization with a sense of purposeful action. Vision serves as a unifying focal point for everyone in the organization — like a North star. In fact, your vision statement needs to be something you can achieve at some point in the future.

 

What is a SWOT analysis?
SWOT analysis is a very common and a very useful strategic planning tool. It is simply an acronym for Strengths, Weaknesses, Opportunities and Threats. Its an exercise often used by the team tasked with putting together the strategic plan to explore Strenghts and weaknesses of a company that are often called internal drivers as well as Opportunities and Threats that are called external drivers.

 

What is PESTLE analysis?
A PESTLE analysis is mainly involved with studying all the external factors that can directly or indirectly impact future long, medium or short term strategies. Its an acronym that stands for  POLITICAL, ECONOMICAL, SOCIAL, TECHNOLOGICAL, LEGAL AND ENVIRONMENTAL.

 

What is corporate culture?
Corporate culture at its most basic level is the sum of an organisation’s behaviours and practices. It reveals itself in big and small decisions as well as daily practices (“how we do things around here”) that tend to perpetuate themselves. Culture often goes unnoticed by employees (like the air you breathe), yet a healthy culture (like clean air) is essential to a healthy organization.

 

Communicating corporate Culture
This article lists the different types of corporate culture: Communal, fragmented, mercenary and networked.