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Strategic planning is the process of making strategic decisions, usually with guidance from a superior, about how to allocate resources to achieve that plan. It is a structured way of working, with specific goals and objectives, designed to increase the effectiveness of the organization, and consequently improve productivity. It is usually carried out by a committee, which meets at least quarterly, to review and make strategic decisions. There are two types of strategic planning: meta-strategy and end-of-life strategic planning. Meta-strategy is a long-term planning approach, covering all the strategic issues that impact the life of an organization; while end-of-life strategic planning is a short-term plan, focusing on the immediate future. Find out –

How Small Businesses Can Benefit From Strategic Planning

Organizational strategic planning can be used to align the activities, processes and people of an enterprise with its purpose and missions, as well as with one another. This means that all the people and activities of an enterprise must work in coordination with each other, with the ultimate objective of reaching the business vision. The ultimate object of strategic planning is to reach the goals and objectives of the company. These goals and objectives should be attainable by a specified date, which is known as a time frame. The key performance indicators, or KPIs, used in strategic planning are determined after analysis of the data that are relevant to the objectives of the company.

It is a tool that is used for aligning the activities of people in an enterprise towards a common purpose, and for achieving that purpose. Strategic planning also considers the resources needed to attain those goals and objectives. It is an organizing system through which a company is organized around a vision and a purpose. It is implemented by the leaders of the company who decide how to work with other departments and with external organizations to reach their shared vision. It requires a systematic, strategic planning approach to reach its fullest potential and to make the most effective use of the limited resources available to achieve it.

Post Author: unescoafrica

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