It’s hard to achieve most things without a plan. We plan a lot of ‘stuff’ dinner parties, shopping trips and holidays.
So, if you are running a business why would you not develop a plan?
You will need some sort of business or strategic plan.
So many businesses fail to write a strategic plan or even determine a plan for the next 12 months.
Developing a strategic plan helps business leaders to determine where they should focus their energy, human resources and finances.
Establishing a plan for your business is critical to success.
The process of planning has been used by organisations for decades and has allowed organisations to set priorities, focus energy and resources, strengthen operations and establish common goals to work towards.
Developing a plan helps business be more capable of managing uncertainty and be prepared to take risks. With a plan you can build scenarios around change even though you cannot predict the future you can more confidently make decisions. With a Strategic Plan in place, you are able to assess opportunities and determine if there is an alignment with the business and its vision. You are also able to adjust the organization’s direction in response to a changing environment.
The planning process creates discipline that ensures that effort leads to decisions and actions that will shape and guide what an organization is, who it serves, what it does and why it does it, with a focus on the future.
Effective strategic planning articulates not only where an organization is going and the actions needed to make progress, but also how it will know if it is successful.
The Strategic Planning processes of today includes a whole organisation perspective and incorporates a focus on the values, motivation and behaviour of the organisation’s employees.
Effort to communicate and implement plans is generally shared by all the leaders across the business. Which helps to create buy in from all teams and at every level and this then results in successful outcomes.