The typical steps involved in the strategic planning process include outlining the company's main goals, evaluating the surrounding environment, creating a specific plan of action, putting that plan into action and reviewing the results of the plan. This allows the company to understand what works best and recreate those steps in other situations.Continue Reading
The strategic planning process is a business concept that allows a company or individual to determine the most effective course of action to achieve specific goals through critical thinking and competitive analysis. The process begins by making a clear list of objectives for the project in question, as this makes it easier to formulate specific strategies and track success. After outlining the goals, the process requires a thorough analysis of the factors influencing the project, such as pressure from a competitor, restrictions on resources or the need to utilize a specific medium or tool.
Both of these processes allow the planner to come up with specific methods to accomplish her goals, taking into account her limitations and available resources. The plans in this section should allow her to directly accomplish the goals she outlined during the planning phase. Next, she must implement the plans, constantly comparing her progress to her goals, and analyze her environment to adjust as necessary. When she completes the project, she reviews the entire process to learn from the experience and make the most informed decisions in future situations.Learn more about Managing a Business