Overview of the Strategic Planning Process
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- čas přidán 4. 08. 2024
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The four phases of the strategic planning process are assess, design, build, and manage. Assessing, designing, and building comprise the planning phases of the process while managing deals with the execution of our plan.
It’s common to be in the managing/execution phase and not get the results you want. In this case, you can dive back into various parts of the planning process to rework.
Great strategic plans begin with assessing our current state. We gather external perspectives (opportunities and threats) and internal perspectives (strengths and weaknesses) to build a SWOT analysis.
Next, we can design a strategy using our mission statement. Why do we exist as an organization, and what’s our purpose? With a clear mission, we can now cast our vision (future state). The strategic planning process is all about moving our organization from where we are today to where we want to be in the future.
To progress into moving to the desired future state, we need to answer, how will we succeed? Begin by identifying competitive advantages and long-term organization-wide strategies. From here, we can build our framework in which we categorize into the following perspectives:
● Financial
● Customer
● Operational/Internal
● People
Let’s build our plan. Using your corporate goals, where do you want to be in Q1, Q2, etc.? Cascade those corporate goals into department goals and, from there, individual goals. Congratulations, you now have a plan!
Managing your plan is just as important as building it. To execute, you need people (individual action plans), a system to track performance, and a process (monthly or quarterly reviews of performance).
More information is available at www.OnStrategyHQ.com
Download the guide here - onstrategyhq.com/prioritizati... - Jak na to + styl
You have saved 4 years of management classes in just a couple of minutes.
Straight to the point: Flawless 🤩
In reality, Theory remains necessary but actions speak louder than words.
Well done. I love it.
The best teachers are those who take seemingly complex topics and make them simple to understand. Fantastic job Erica, so well done.
Thank you, Evelyn.
Erica, you are the BEST!!! I love how you put everything into one picture. Great advice as always. Thank you!
out of the past 20 videos I reviewed, this on is by far the best. Without wasting my time you perfectly explained the process. Thank you. I will subscribe.
Where have you BEEN ALL MY LIFE!!! Your videos are AMAZINGLY helpful, thank you!
Amazing yet So simple. The best video on Strategic Plan.
This is one of the best overviews I've seen in a long time. thank you so much.
Glad you enjoyed it!
Perfect timing, virtual strategist. I will kick start this video with my leadership team tomorrow!
Great as always Erica, Thanks!
This is fantastic, thank you so much for the upload!
Clearly expressed. Now I understand the process much better.
Thanks for sharing.Very well articulated.
Very helpful & nicely presented! Keep up the great work :)
Awesome and to the point Erica. Thank you. This helps a lot.
Simple and to the point . Thanks and keep up the great work!!
Thank you for watching!
STTP (Straight To The Point), thank you for that. Most videos pretend they are essays because they approach the presentation in essay format, which wastes time and distracts from the point. You don't do that, you go right to the point and spend the video explaining. This is what researchers are looking for. JWD (Job Well Done)
Wow! Thanks for the amazing feedback David. I am so happy that the videos have been working for you so well. Cheers!
Finally a really good explanation of this process, Great video!
We're glad you enjoyed the video!
This was a great overview. I will watch a few more times to get the concepts really engrained in my thinking! GOOD STUFF!
Thanks!
Well done! Sound and Clear. Thanks for sharing.
You're welcome!
I truely appreciate the way you break up the stages and the fact that you are using a canvas with is ver very practical
Glad it works for you!
so Interesting ...I learn a lot from your lesson . I use it . Thank you so much !
You just connected the dots for me. Thanks for your great work!
For me too!
very helpful i'm was tring and tring to link stategic process and now is done thank you
Excellent work Erica and team! This has massively helped me restructure my thought processes and now I know exactly what I want to achieve :-)
That's great news. Glad it could help!
Erice thanks for the insights ,,,well presented ,,,,,,
This is really help and useful, as I need this knowledge as for my new assessment. Well done!,
Wowww..You are the best teacher ❤. You make the hard thing becomes easier to understand within 1 pic. Thank you so much.
This is just amazing!
You've made a complicated thing very simple and easy to understand! Kudos!
Great to hear that. Thanks!
Wow, just excellent. Clear and precise!
Thank you!
Summed up beautifully and easy to understand! Thank you, Erica :-)
Thanks!
Excellent presentation and really good content, well done
Nailed it, thank you!
Much thankful to you and your team, I am following your Videos.
Great. Thank you!
I watched about 4 strategic planning videos on you tube. Erica’s version is the best . Thanks
Thank You!
Excellent presentation..very brief and beautifully explained ..
Very good teaching mam , easy to understand. Thank you
Thanks for sharing. Your videos have been very helpful. We will be looking to check out your software platform in the next month or so. Very excited
Great news! Thank you.
thanks ! it is helpful for me to make strategy plan for my company i work in.
Great video!
This was great!
Great work Erica..as usual...you are the best... . :)
Thanks!
An excellent overview of Strategic Planning.
Thank you!
Very informative!!! Thank you.
You are so welcome!
This awesome. This is what I am looking for. Thanks
Glad I could help!
hi, i love your explanations but just a request. the volume is lower on these videos than the ones previously can you adjust it in the future.
this is so helpful to me you have no idea
That's awesome!
You saved me on this MBA assignment. Thank you !! Where do I send my tuition?
Very good thanks
Good job Excellent from Ethiopia
love this
Literally you rock. You are my new favorite teach on Strategic planning. Quick question: Are the Long-Term Strategic Obectives: Financial, Customer, Operation, and People?
The 4 perspectives are actually the balanced scorecard. Strategic goals should cover the 4 areas for the plan to be balanced. A good analogy is a car. For a car to be able to move, it needs four tyres. Likewise for a company to reach its strategic goals, they should cover the four departments in question. Best.
Erica I've got a question here .
For an existing company which wants to do strategic planning , do I need to revise the Vision /Mission statements ?
Great presentation!
Thank you!
Excellent!
Many thanks!
Great overview Erica
Thank you!
Thanks Erica for this simple explanation for lining up strategic planning objectives to goals & indicators but I wish if you explained more how to differentiate in selecting lead and lag KPIs and how to dig deeper in a micro level to set a group of Key Risk Indicators for measuring process systems threats.
Again I appreciate your simple effective explanation of this process.
Regards
Thanks!
Mam it's really a helpful video thankyou
Most welcome 😊
Virtailstrategist can u plz tell me the diff b/w strategic planning and strategic management
So good so far. But why whould you create your mission/vision AFTER your analysis? Without those you basically start with "an empty business". What are you analyising then without any direction?
Nice and precise work, but still need more clarification on goals vs objective
Present your thought process on sales, customer engagement
Nice lecture
Thank you!
great
Thank you!
How many acronyms can you fit in one video?
The basis of PMP
simplified
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Bad chick. I can imagine she is changing the life of some big company somewhere.
Super confusing