Strategic planning is a group of processes and analysis and analytical processes that allow a company to understand where they are within their market, and create a clear path to their future. Companies usually have short term goals and have set some long term plans, these goals or plans should be a part of the mission statement. The mission statement should clearly state who the company is, what they do, why they do it, and what they plan on doing. Strategic planning assesses both long and short term goals within the planning process. There are three questions that all managers, no matter what organization or sector of the market, have to ask themselves:
• Where are we now?
• Where do we want to go?
• How are we going to get there?
(Gamble, J., & Thompson Jr, T 2011).
Along with answering these questions, one must also determine what type of strategic strategy their company is following. There are five generic strategies that most companies will follow. Completing an intense internal evaluation will give the company a good idea of where they think they are and an idea of where they want to go. The internal evaluation is useless if there is nothing to compare it too, therefore, the company must now evaluate their competition. Knowing the competition is essential to being successful and being able to strategize and create a sound plan for moving into the future. Now that the company knows about themselves and their competition, there is one more component that has to be considered to be able to create a viable plan. The outside influences such as technology, economy, trends, fads, and any other external force that will affect the portion of the market in which the company operates.
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... we going to get there in addition to the SWOT analysis and the generic strategy and create an exceptional plan to lead their company into a successful future. The majority of time it is difficult to get everyone to buy in on the change that comes with implementing future plans. One of the best ways to get employees, board members, or anyone else needed to make the plan be successful to get excited about a plan is to allow them to have some ownership in the changes. Letting someone feel like they have ownership in a new process can be achieved by allowing them to voice their opinion during the planning process and let them know that their advice was taken into consideration even if their exact plan or advice was not used. The main thing to keep in mind is that without a plan and a road map to the goal all the planning in the world is useless without the road map.
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