More than half of business leaders responsible for strategy admit their enterprise fails to achieve its strategic objectives. Don’t be among them: StrategicPlanning Leadership Strategy
Strategic planning is the process through which enterprises, functions and business units identify the roadmap of initiatives and portfolio of investments that will be required in the medium term to achieve long-term strategic objectives.Strategic planning starts with setting strategy at the enterprise level, but that strategy must then be turned into action. The three levels of strategic planning typically refer to corporate versus business unit and functional.
Build a strong foundation for more detailed planning by setting or pressure-testing mission, vision and goal statements first Streamline stakeholder input by limiting mission, vision and goal setting to senior leadership, and leaving objective, action plan, and measure and metric development to managers with execution expertiseThe key elements of a successful strategic plan include:The organization’s mission articulates its reasons for being, and the vision lays out where the organization hopes to be. The strategic plan, which links the two, must be adaptive enough to respond if the context changes during execution.
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