Strategic Planning

Business Planning:

• Business wide

• Direction and strategy for whole business

• Broad and general

• Long term: 3+ years

What is business strategy?

• Where do we want to go?

• How do we get there?

• Let’s go…

• How are we doing?

Overview of Strategic Planning Process:

• SET mission and business objectives

• PLAN how to achieve the objectives

• IMPLEMENT the plan

• MONITOR and EVALUATE the results

Benefits of Effective Strategic Planning:

• Clear direction (motivating)

• Efficient use of business resources

• A way of measuring progress

• More effective decision-making