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Overview of the Strategic Planning Process

Build your AI transformation Strategy in 30 Days 🚀 ➝ https://onstrategyhq.com/ai-contact-2/ The four phases of the strategic planning process are assess, design, build, and manage. Assessing, designing, and building comprise the planning phases of the process while managing deals with the execution of our plan. It’s common to be in the managing/execution phase and not get the results you want. In this case, you can dive back into various parts of the planning process to rework. Great strategic plans begin with assessing our current state. We gather external perspectives (opportunities and threats) and internal perspectives (strengths and weaknesses) to build a SWOT analysis. Next, we can design a strategy using our mission statement. Why do we exist as an organization, and what’s our purpose? With a clear mission, we can now cast our vision (future state). The strategic planning process is all about moving our organization from where we are today to where we want to be in the future. To progress into moving to the desired future state, we need to answer, how will we succeed? Begin by identifying competitive advantages and long-term organization-wide strategies. From here, we can build our framework in which we categorize into the following perspectives: ● Financial ● Customer ● Operational/Internal ● People Let’s build our plan. Using your corporate goals, where do you want to be in Q1, Q2, etc.? Cascade those corporate goals into department goals and, from there, individual goals. Congratulations, you now have a plan! Managing your plan is just as important as building it. To execute, you need people (individual action plans), a system to track performance, and a process (monthly or quarterly reviews of performance). More information is available at https://www.OnStrategyHQ.com Download the guide here - https://onstrategyhq.com/prioritizati...