What is a Strategic Management Plan?
A strategic management plan outlines the overall strategy for a company. It outlines the company’s goals, objectives, and the actions that need to be taken to achieve the desired results. It also includes key performance indicators (KPIs) that will be used to measure the success of the strategy. The plan should also include strategies for dealing with any potential risks that may arise.
What's included in this Strategic Management Plan template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Strategic Management Plan template for?
This strategic management plan template is designed to help business leaders and executives develop and implement a comprehensive strategy. It provides guidance on setting clear objectives and measurable targets, and implementing related projects to achieve the outlined goals. This template can be used to develop a successful strategic management plan for any company.
1. Define clear examples of your focus areas
A focus area is a broad topic that outlines the overall goals of your company. Examples of focus areas could include increasing customer satisfaction, increasing employee engagement, and increasing operational efficiency. Each focus area should be clearly defined and measurable targets should be set to help achieve the desired results.
2. Think about the objectives that could fall under that focus area
Objectives are specific goals that are set to achieve the desired results of each focus area. Goals should be achievable and measurable, and they should align with the overall strategy and focus areas of your company.
Examples of some objectives for the focus area of Increase customer satisfaction could be: Improve customer experience, and Improve customer feedback response rate.
3. Set measurable targets (KPIs) to tackle the objective
Key performance indicators (KPIs) are measurable targets that are set to track the progress of each objective. These should be specific, measurable, and achievable. KPIs will help you track the progress of your objectives and ensure that you are on track to achieve the desired results.
An example of a KPI for the focus area of Increase customer satisfaction could be: Decrease customer call wait times.
4. Implement related projects to achieve the KPIs
Projects (or actions) are specific activities that are designed to achieve the measurable targets of each objective. These should be detailed and should include a timeline for completion. Projects will help you ensure that the objectives are met and that the desired results are achieved.
An example of a project related to Increase customer satisfaction could be: Streamline customer service process.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform helps business leaders and executives implement their strategies. This platform provides tools to track performance, manage projects, and measure results. By utilizing this platform, you can ensure that your strategic management plan is executed efficiently and effectively.