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  • Strategic Plan

    What is Strategic planning? and What does is it involve?

    K
    1 Reply
  • Strategic planning is a means through which an organization implements its organizational strategy. It involves crafting a plan of action that outlines what will be done by an organization to achieve its strategic objectives.

    N
    1 Reply
  • I have been hearing the ambiguity behind 'strategic planning' - is there a template on what all comes under a strategic plan? almost like a TOC?

    G
    1 Reply
  • Strategic Planning involves five main steps.
    These are:

    1. Creating a mission statement: look at where the organisation is today, what is our purpose, what do we do?

    2. Secondly, Craft a Vision Statement: Where do we want to say in the next five (3-5) years. e would need to do some things to link where we are now to where we what to be) ( what we need to do -the How!!!

    3. Set SMARTER GOALS &OBJECTIVES: By doing so, we need to do an internal assessment ( capabilities, tools, or resources) through a SWOT/COWS analysis. Organizational internal Strenght and weaknesses and external- Opportunities and Threats/Challenges. 2.) Conduct an external environmental scan ( looking at the organization from a political, economical, social, Technological, Environmental and Legal perspectives -- a PESTEL analysis of our organization.
      Use the conclusion of these analyses to formulate SMARTER goals and objectives.

    4. Craft Strategies to Drive the objectives (KPIs, Targets, initiatives, etc) Strategy formulation and strategy implementation.

    5. Monitor, Evaluated and Correct

    G
    1 Reply
  • Yes, there are several templates available for for-profit and not-for-profit organisations . I recommend that you read up on the Balanced Scorecard Framework.
    Developing countries like Jamaica use the result-based framework ( Performance Management Evaluation System) using what is known as a minimum standard -- Strategic Plan Template for Ministries, Department, and Agencies this is a cascade from the Medium-Term Framework and Vision 2030 mission or sustainable development goals.

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