Strategic Planning: Mastering The Basics

Have you ever wondered if “strategic planning” is just a trendy buzzword phrase that makes people sound smart? Is it even a real thing?

I’m here to tell you, “Yes, it most definitely is!”

Strategic planning is a powerful tool for a business leader. If you want to utilize this management skill, here are some basics to get you started.

Strategic Planning: Mastering the Basics

The following tips will help you chart a course to master the skill of strategic planning. Let’s get started with the basics!

What is Strategic Management?

Strategic management is the systematic implementation of ongoing, coordinated activities that align actions with the mission of an organization. Following a management plan allows a business leader to receive and use feedback while adjusting the plan as necessary to stay on track and reach your business goals.

Strategic management means changing direction in response to fluctuations in the environment by focusing on the goal to be reached.

What is a Strategic Plan?

The strategic plan document communicates to everyone in the organization your goals and the action steps needed to reach them, how progress will be measured and the desired results of the plan.

The plan will be developed by looking at the current situation and then deciding on the steps to be taken to reach the company’s goals. To do the initial assessment, take a long look at the business environment, projects, processes and performance and evaluate where improvement can be made.

What is a Strategy Map?

A strategy map is a visual graphic that shows the flow from the beginning point, through action steps, and through to completion.

The map is a visual representation of the plan. Developing a strategy map solidifies what will be accomplished and how.

How is the Plan Developed?

The development of a solid plan requires using a Think-Plan-Act practice. Thinking about an idea and making a map to reach your goals are excellent management tools, but they are a waste of time unless you put them into action. All three pieces work together in unison in a well-written plan.

Develop A Strategic Plan that Works for Your Business Today!

There are many frameworks available to use when designing a strategic plan. You definitely won’t need to start from scratch.

If your business is lacking a strategic plan, contact ActionCOACH Sheles Wallace. Sheles will walk with you on this journey and help you take your business to the next level!

About the author, Sheles Wallace

Sheles is an award-winning business coach who gets results for her clients.

For over 15 years, she has helped business owners achieve their goals and

take their businesses to the next level. If you're ready to take the next

step in your business evolution and go from an owner who wears all hats to

creating a commercial, profitable enterprise that runs without you, find out

more here: https://meetings.hubspot.com/sheles-wallace