Every successful business has a plan in place that guides its decisions and actions. This plan is the organization’s strategy.
Strategic Planning is the systematic process by which an organization creates and implements that strategy; it’s used to create a roadmap for success. It’s a critical tool that helps organizations achieve their goals and stay competitive in a constantly evolving marketplace.
This typically involves a review of your business’s current status, including its strengths, weaknesses, opportunities, and threats, as well as an analysis of your competitive environment.
It begins with an assessment of your current position and the creation of a clear and concise mission statement that articulates your business’s purpose and values. From there, it outlines goals and objectives that align with your mission statement, and develops strategies to achieve those goals.