A Strategic Plan will be used to outline the purpose of an organization. It will also include the organizations goals for the company and how the organization plants to meet these goals. The plan is very important, as investors and stockholders will look at the plan to determine how likely it is to achieve success.
The first part of a Strategic Plan typically includes a mission statement. The mission statement will list the intent of the organization. This can be followed up with more specific goals. Following this, more detailed information about the organization can be included. This may include a SWOT area, or Strengths, Weaknesses, Opportunities, and Threats section. This section can help possible customers, investors, and advisors better understand your company and how it will operate.
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Contents of a Strategic Plan
Strategic plans are used by companies around the world to determine what they will do next. At the core of any company, large or small, is their business strategy: what will they do if X or Y happens? How will they beat their competitors?
To keep things organized and hassle-free, strategic plans are often formalized on paper.
A strategic plan template can be broken down into several distinct components -
The first component is always the name of the organization, followed by the date the plan was created.
The second is reaffirming the mission and vision statements of the company. This is important because it puts everyone on the same page. The strategic plan form also includes a list of the key team members. This includes those most involved in determining strategy, which include the CEO and usually most of the critical executives.
The third major component is an analysis of the company. This is where the strategy really comes into play. Some strategic plan forms will start with strength analysis. It is usually a good idea to start such a planning meeting on a positive note. The next subject will often be opportunity analysis. The team looks at identifying the biggest opportunities available and how the firm can best take advantage of them. The strategic plan form then looks at how weaknesses could prevent the firm from realizing an opportunity.
The fourth component is analysis of the corporate environment. The strategic plan offers a rubric on threat analysis. This is where the planning team looks at competitors, their capabilities, and their likelihood to capitalize on common opportunities. The next phase is to broaden the perspective to the whole industry. A deep analysis of the context in which the company play can offer insights on trends and promising new avenues. To contextualize this external analysis back to the firm, the last phase looks at marketing. Most strategic planning templates will suggest a section on marketing. This is where the team can focus on the lesson learned from industry trends and new opportunities. In this stage, the planning team develops a plan to interact with potential customers and the industry at large.
Most strategic plan forms conclude with goals. Every good planning meeting has a comprehensive list of actionable items and clear objectives . These are usually outlined one month, one quarter, one year, and five years out. Planning on a short to long timeline helps keep a holistic perspective of the strategy.
The document ends with an executive summary of the strategic planning form.