What is a 5 Year Strategic Plan?
A 5 Year Strategic Plan Template helps organizations to establish their long-term goals and objectives, and outlines the steps needed to achieve them over a five-year period. It is a roadmap that guides the organization in decision-making and helps to ensure that all efforts are aligned towards achieving the desired outcomes. Although it is useful for the long-term, 5 Year Strategic Plans need to be flexible and adaptable to unexpected context and market changes. This is the key to successful strategy execution.
What's included in this 5 Year Strategic Plan Template?
- 4x Focus Areas
- 12x Objectives
- 23x Projects
- 24x KPIs
Who is this 5 Year Strategic Plan Template for?
This 5 Year Strategic Plan Template is suitable for leaders and teams from organizations of all sizes and industries. It is an essential tool for businesses looking to grow and succeed in today's competitive market.
How is this 5 Year Strategic Plan Template relevant to your organization?
Having a 5 Year Strategic Plan is useful to make sure the organization has a lon-term direction to achieve success. It helps to clarify the organization's vision and mission, and ensures that all efforts are aligned towards achieving its goals. What's most valuable about this 5 Year Strategic Plan Template is that it allows organizations to adapt their long-term strategy quickly to changing market conditions and stay ahead of the competition. It provides a clear and structured approach to building and executing a successful strategy, ensuring that your organization can achieve its full potential.
1. Define clear examples of your focus areas
A focus area is a particular viewpoint that groups certain requirements set out by an organization. A recommendation from the Cascade team would be to create 4-5 key focus area which you feel are most important to address when creating your 5 Year Strategic Plan Template. The next step would be to ask yourself: Why is this focus area important to me? What is the benefit of focusing on this viewpoint from a customer's perspective? And, of course, What is the monetary benefit of investing in such a focus area? This process is useful in identifying the key area which needs prioritization which in turn can become focus areas of the strategy.
For example, the focus areas in this 5 Year Strategic Plan Template are: Performance; Leadership; Employee Experience; and Finance.
2. Think about the objectives that could fall under that focus area
A strategic objective usually has to be specific and measurable to cause enough impact and effectively explain what you want to achieve.
An example objective that could fall under the focus area of Leadership could be: Unite individuals to a common goal.
3. Set yourself measurable targets (KPIs) to tackle the objective
A KPI is a key performance indicator that is measurable and evaluates the success rate of an organization in relation to the task at hand. KPIs can be very industry-specific or broad and applicable across multiple industries.
An example of a KPI in this 5 Year Strategic Plan Template associated to the objective Unite individuals to a common goal could be: Increase engagement score to 67%.
4. Implement related projects to achieve the set KPIs
Projects are ways in which the objective can be achieved, but more so, closely tie in with ways in which organizations can make sure they are working towards their KPIs.
A project example for the objective Unite individuals to a common goal could be: Instill coaching programs for dept heads and officers.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Make sure your strategy is front and center with Cascade. You can plan, execute, measure and adapt your strategy in one easy-to-use platform and make sure your strategic plan is connected to on-the-ground execution.
Use this 5 Year Strategic Plan Template and launch your strategy in Cascade; it's $0 forever.