Strategic Planning

-Ranpreet Kaur

Strategic Planning
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. Or A systematic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them Or A strategic plan is a road map to lead an organization from where it is now to where it would like to be in five or ten years

Strategic Planning (conti)

A strategic plan is the sum total or outcome of the

processes by which an organization engages in environmental analysis, goal formulation, and strategy development with the purpose of organizational growth and renewal. Provides unified vision and goals for the organization Helps ensure that the needed resources are available to carry out initiatives

Conti.
Used by Stakeholders, community groups,

government departments, organizations and businesses to develop blueprint for action and change the process should be community based, inclusive and participatory to allow for maximum stakeholder involvement and input.

Key components
Vision outlines what the organization wants to be, or how it wants the world in which it operates to be. Mission Core purpose of organization Formal expression of the purpose or reason for existence of the organization Defines the fundamental purpose of an organization or an enterprise, succinctly describing why it exists and what it does to achieve its vision Philosophy a value statement of the principles and beliefs that direct the organizations behavior

Conti..
Values are the principles, standards, and actions considered worthwhile in the organization and part of the organization culture Beliefs that are shared among the stakeholders of an organization Strategy a plan of action designed to achieve a long-term or overall goal. the skill of making or carrying out plans to achieve a goal

Benefits of Strategic Planning

Defines mission, vision & values Establishes realistic goals, objectives & strategies Ensures effective use of resources Provides base to measure progress Develops consensus on future direction Builds strong teams Solves major problems

Importance
Focuses attention on

Limitations
Lack of accurate

objectives and result Reduces uncertainty and risk Provides sense of direction Encourages innovation and creativity Helps in co-ordination Guides decisionmaking Provide efficiency in operation

information Time and cost Resistance to change Lock of ability to plans False sense of security Environmental constraints

Strategic Planning Process

Map the present situation (Environmental Scanning and SWOT

Analysis) State Vision And Mission Developing Goals, and Objectives (SMARTER-Specific,
Measurable, Acceptable,Realistic,Timeframe, Extending, Rewarding)
Develop and prioritize potential strategies and tactics plans Communicating the Plans Implementation

Monitoring ,Evaluation and Continuous improvement