Strategic planning serves a variety of purposes in businesses, including to:
- Clearly defines the purpose of the business and to establish realistic goals and objectives consistent with that mission in a defined time frame within the organization’s capacity for implementation.
- Communicates those goals and objectives to the business’s target markets.
- Develops a sense of ownership of the plan.
- Establishes a clear picture of the business’s identity and how it is differentiated from its competitors.
- Examines the strengths, weaknesses, opportunities, and threats of the business.
- Ensures the most effective use is made of the business’s resources by focusing the resources on the key priorities.
- Provides a benchmark from which progress can be measured and establish a mechanism for informed change when needed.
- Considers everyone’s opinions in order to build consensus about where the business is going.
- Provides clearer focus for the organization, thereby producing more efficiency and effectiveness.
- Bridges staff/employees and managers.
- Builds strong teams in the board and in the staff/employees.
- Provides the glue that keeps the leadership.
- Produces great satisfaction and meaning among planners, especially around a common vision.
- Increases productivity from increased efficiency and effectiveness.
- Solves major problems in the business.
Contact Empire Creative Marketing to learn more about how creating a strategic plan can work for your business.