A company’s true value is largely determined by its long-term performance potential as shaped by management’s decisions made today. These decisions guide the translation of the company’s mission, its purpose for existing, into the products and services it provides and hopefully the market wants.

Strategic planning is an iterative, ongoing process consisting of:

Analysis: assessment of the internal and external factors effecting the organization’s ability to achieve its mission     
Alternative Development: detailed assessment of the costs, benefits, and risks associated with strategic alternatives including both major, ongoing and newly proposed activities     
Alternative Selection: identification of the current portfolio components and proposed activities that will be pursued and the timeframe for execution     
Resource Projections: aggregation of the personnel, financial, physical, and technological needs including an assessment of the ability to acquire these resources within the needed timeframe     
Plan Development: final validation of the organization’s mission and compilation and approval of its long-range and annual business plans     

Execution of these iterative processes takes place throughout the year with a frequency dictated by the pace of market change.

Posts in this category are dedicated to discussing the leading practices of companies that successfully execute strategic planning processes to define objectives, drive alignment and enhance performance.

Popularity: 23% [?]

If you're new to StrategyDriven, please consider subscribing to our RSS feed. Thanks for visiting!

AddThis Social Bookmark Button
  Email This Post Email This Post  |   Print Post Print Post