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Strategic Planning

Developing a Strategic Plan

Companies need to answer the question: What do we want to look like in three or five years’ time. Determination of future goals and what it will take to accomplish them results in higher performance and growth. The strategic planning requires answers to the following key questions – Where are we now? Are we in the right business? Where do we want to go? What actions should we take to get there?

How PSG can assist in the strategic planning process:

Our facilitation role starts with directing the activities of your own project team on research and preliminary plans. We typically conduct online customer perception surveys of key customer and stakeholder groups and, where appropriate, conduct employee engagement surveys to obtain essential feedback. This all comes together in the facilitated planning sessions with key executives, staff and frequently board members. Consultation with key stakeholders on the issues prior to planning sessions contributes to the substance of the process. Summarizing the issues and preparing the framework for write-up of the strategic plan follows the planning sessions.

Why is strategic planning important for your company?

Organizations and people perform better when they know what they are expected to achieve. Each year’s annual business plan is part of the roadmap to achieve the plan. The drivers of the strategic and annual business plans cascade down the organization as the foundation for setting performance objectives for each department and individual. This also facilitates alignment between departments. The actions and strategies identified in the strategic planning process become accountabilities for employees throughout the organization. Most importantly, the plan projects the expected return on investment for your business.

Requirements for Effective Strategic Planning:
  • Build the Plan on research of market trends and customer needs.
  • Ensure the vision, mission and values of the organization are still relevant.
  • Define the metrics and develop the action plans to achieve them.
  • Develop the strategies and action plans to achieve the planned targets and objectives;
  • Recognize infrastructure needs (the human resources, technology, business processes, facilities, etc.) to support planned growth;

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