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The strategic planning process is the end-to-end process of developing and implementing mission, vision, principles, goals, strategy and plans to achieve these things. This is an ongoing function that is the primary duty of the most senior managers of an organization. The following are the basic steps of the strategic planning process with a guide to each.
Strategic AnalysisStrategic analysis is the development of knowledge in support of the strategic planning process. This is an ongoing process that supports every step of strategic planning. Elements of strategic analysis such as SWOT analysis do not produce strategy but rather identify strategic drivers that can be used to shape strategy.
Mission, Vision & PrinciplesStrategy begins with an internal examination of who you are as an organization, what you value, why you exist and what you are trying to achieve. These are enduring elements of strategy that may be set once a decade or so.Goal PlanningStrategic goals are the top level targets of an organization. Developing and prioritizing goals is typically done on an annual basis. Many organizations don't plan goals beyond a year in any meaningful way. Unusually capital intensive organizations may plan three, five, ten or even twenty years into the future.Strategy PlanningStrategy planning is the development of plans to achieve goals in the context of competition, constraint and uncertainty. This is a process of strategic thinking that results in a plan and set of objectives that represent meaningful steps on the path to goals. Plans are captured in documentation such as smart objectives, business cases, project charters and budgets.Strategy ImplementationStrategy implementation is the process of implementing strategy with programs, projects and management by objectives whereby teams are given targets to achieve.Change ManagementChange management is the process of sponsoring and leading change. This is an executive function that clears issues, promotes the agents of change and sidelines resistance to change.Performance ManagementPerformance management is the process of monitoring and measuring strategy implementation and performance against the objectives of teams and individuals.
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