Some strategic planning model types include the goal-based, basic, scenario planning and alignment models, notes the University of Illinois at Chicago. These are just a few of the many models, and the model that best fits an organization will depend on its size and those participating in the process.Continue Reading
The goal-based planning model involves analyzing a company's strengths and weaknesses, analyzing threats and opportunities, choosing some major goals to focus on and then coming up with the steps to accomplish these goals, notes the University of Illinois at Chicago.
In contrast, the basic planning model starts with looking at the company's mission and purpose and then coming up with goals based on those. The alignment method is similar to the basic planning method in that the company makes plans to align with its mission and use its resources to accomplish its goals.
Finally, the scenario-planning model looks at what changes the organization may face and coming up with best case and worse case scenarios for the company to make plans to deal with.Learn more about Financial Planning