A strategic plan is the process of initiating the direction a business wants to take and defining how the plan will cascade through the organization by the allocation of resources.
Strategy is a set of choices. A set that comes from trying to make sense of that messy reality, figuring out where your organization fits in it and how you can make that the new reality.
This template is function agnostic, meaning it can be used by multiple teams in all levels of the organization. It is also industry agnostic and suited for companies of all sizes.
Strategies need structure to succeed and make sure the organization is moving in the right direction and hitting the goals it set out to achieve. The Strategic Planning template provide that structure for the process of creating a strategic plan.
Focus areas are broad categories used to group problems or challenging areas within your organization. Creating focus areas helps guide your organization on what areas are a priority to work towards. If you’re struggling for inspiration try to think of the categories within your organization that you want to focus on and start creating strategic focus areas from there.
Examples of strategic focus areas that could fall under a strategic plan could be: Aggressive Growth, Top Places to Work, Portfolio Expansion, and Value Creation (just to name a few).
How could you best encapsulate this focus area? What goals could you set and act upon to achieve a positive result in this focus area? These are the sorts of questions you want to answer when thinking about setting up objectives. A strategic objective usually has to be specific and measurable to cause enough impact and effectively explain what you want to achieve.
Examples of some objectives for the focus area of Value Creation could be Communicate value to distinguish oneself from competitors and secure long term customer relationships, and Deliver quality work within a defined time.
KPIs are important metrics that make sure that you can accomplish your business objectives. KPIs not only take into account numerical measurements to help track your progress but also enable you to review the performance of your goals so you can accordingly make adjustments in your execution to achieve your strategic goals.
An example of a KPI for the objective Deliver quality work within a defined time could be Reduce Project management costs of the project's total TIC.
Projects can help you and your team understand how to adapt, improve, learn from, and better implement processes that can help you achieve your end strategic objectives.
An example of a project to enhance Value Creation within your organization could be: Integrate fortnightly meetings into the company schedule to communicate results, achievements and provide insight for growth and improvement.
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