A strategic planning process is a structured process that organizes and coordinates the activities of the managers who do the planning.
The sound of it seems to suggest a long boring session in the boardroom, with managers presenting plans which probably half the room are falling asleep to. A strategic planning process is an exciting exercise, and gets the adrenaline of all going! The process is a visionary travel, both conceptual and directional. That said, it should also be be realistic and attainable too.
The value of a strategic planning process is that there would be explicit and in-depth analysis of business issues and strategic alternatives. It provides a sense of direction and calls for organisational committments. Setting goals and focusing on them during the planning process makes these goals subconscious drivers that guide the organisation’s actions. Doing this in terms of a structured strategic planning process, means that you will tend to steer your business in the right direction all the time, and you will do this without consciously thinking about it.
The result of the strategic planning process is a comprehensive strategic plan, which serves several purposes. Firstly, it acts as a framework for making decisions. Secondly, it provides a basis for more detailed planning. Thirdly, it explains the business to others in order to inform, involve and motivate. Fourthly, it assists in performance monitoring or benchmarking as required. Lastly, it stimulates change, and become a foundation for the next plan.
A strategic plan is NOT a business plan. A business plan is a much detailed plan, that has micro details of operational issues and implementation reviews as well.
Find more thoughts at http://360strategyleadership.blogspot.com/
