Corporate
A corporate strategy includes goals and objectives that represent meaningful steps on the path to goals. A strategy plan includes an action plan that describes how objectives will be achieved and measured.Strategy Plan - Corporate
Strategic Vision
Increase revenue and reputation with new products, quality enhancements and aggressive promotion of the brand.
Goal | Action Plan | Objectives |
Increase revenue. | Develop 20 new products for market testing. Select and launch 3 new products. Product managers to grow sales of existing products by at least 20% with promotion and product updates. Launch three new ice cream products by Q2. Update products and aggressively promote sales into the summer season. | Gross revenue growth of 30% or more. Operating margins of at least 11.1%. |
Improve perceptions of quality. | Quality to be a key consideration in the market testing of potential new products. Product managers to improve perceptions of quality for all existing product lines with improved ingredients, formulations and packaging. This will be done as part of the seasonal product changes. | Perceptions of quality of 90% for new product launches. Improve product ratings by 5% for existing products. |
Improve brand recognition. | Brand marketing team to promote brand independently of sales promotions. This team owns brand recognition and awareness. Promote brand with advertising, event promotion, direct marketing and in-store merchandising displays. | Brand recognition of 87% of target market. Top-of-mind brand awareness of 20% for the product category ice cream. |
Education
A strategy plan for a university, academic department, school or school board evaluates goals in terms of outcomes for the institution, students, faculty, staff and communities. This often covers quality of education, affordability, efficiency, infrastructure, school culture, organizational excellence, student experience, employee satisfaction, leadership development, research, sustainability and community and alumni engagement. The following is a partial example.Strategy Plan - Education
Mission
Build on the strengths of our faculty, staff, students and community to be recognized as a top global university.
Objective | Plan | Target Outcome |
Free students of debt. | Decrease the debt load of students with grants for all students that achieve a grade point average of 3.2 or higher. | Decrease average debt load at graduation by 50% within 5 years. Provide a free education to all students within 10 years. |
Deliver world class research. | Increase funding to labs and research programs that have generated world class research in the past 7 years. Aggressively recruit talented researchers at the top of their field. Found new research programs in promising new fields. Improve infrastructure and facilities to support research programs. Develop research partnerships with government, universities and industry. | Reach the top 50 in prominent global rankings of universities. |
... | ... | .. |
Marketing
Strategy plans for marketing can be developed at the level of an organization, business unit and product. These may cover product development, customer experience, promotion, pricing, distribution, sales and operations.Strategy Plan - Marketing
Goal
Improve revenue to $137 million with gross margins of 37%.
Objective | Action Plan | Target |
Launch 17 new products. | Research and develop at least 30 candidate products. Develop go-to-market strategy for 17 products and launch. | Revenue from new products of $3 million this year. Gross margins of 37% for new products. |
Expand distribution to Hawaii, Alaska and Canada. | Add shipping options to ecommerce site. Establish retail partners in Canada. | Revenue from new regions of $5 million this year. |
Generate demand with advertising. | Use digital advertising platforms to target and retarget customers who have been shopping for vitamins within the past 72 hours. | Revenue generated by direct ads of $30 million a year. |
Improve quality of products to increase ratings on ecommerce sites. | Increase quality control inspections by 30% and improve quality assurance practices to quickly address the root cause of quality problems. | Average product rating of 4 stars our of 5 on prominent ecommerce sites. |
Generate demand with regular sales while maintaining target gross margins. | Launch daily price promotions with ecommerce partners and weekly promotions with retail partners. | Revenue from promotional pricing of $60 million while maintaining gross margins of 37%. |
City
A city strategy is typically an expansive plan that may include economic, environmental, quality of life and infrastructure elements. It is common for plans to have a long time horizon of 5, 10, 20 or 25 years with modest steps towards the plan taken in the current budget. City strategies are often presented with glossy marketing visuals. Due to the long time horizons involved, plans are often unimplemented or partially implemented as priorities change with time. The following is a partial example of a city strategy.Strategy Plan - City Planning
Strategy
Improve air quality, internet infrastructure and the nutritional status of students in the city.
Objective | Action Plan | Impact |
Provide free optional lunches to all school children that are formulated by top chefs to be economical and healthy. | Design and publish lunch plans. Procure lunches from multiple local suppliers and monitor supplier performance and quality. Obtain regular feedback from children and parents to improve the program. | Ensure that every child in the city has an opportunity for a healthy meal each school day. |
Improve air quality. | Implement an aggressive emissions testing program for trucks and small motorcycles to get the worst vehicles off the road. All city buses to be electric within 5 years. A minimum of 20% of the fleet to be replaced each year. | Target for average 20 PPM of 2.5 particulate matter. |
Improve internet infrastructure. | Make investments in internet backbone infrastructure to interconnect to more regions. Provide high speed WIFI for free to 70% of the downtown core. | Improve local business satisfaction with internet infrastructure to 95%. |
| Overview: Strategy Plan | ||
Type | ||
Definition | A list of strategic goals with an action plan to achieve each goal. | |
More Commonly Known As | Strategic Plan | |
Related Concepts | ||
