Without a doubt, the Strategic Plan is one of the most important activities in a company and cannot be designed lightly.
Strategic planning requires time, meetings, information, discussions and debates, exchanges of opinions and in-depth analysis to reach a consensus on which strategies and actions are best for a company.
This requires mastering the formal structure of a planning process and the criteria that will be used in each analysis and debate. It is essential that all areas of the company participate and that many collaborators are heard.
How to develop a company's Strategic Plan
What is a Strategic Plan? Concept
It is a guide for companies and their top managers, which establishes the objectives they must achieve, as well as the strategies and actions to achieve them.
In general terms, it is a document that describes how the company should act, according to the current and future conditions of the market in which it operates, and its skills or strengths.
It is an action manual that sets out how the company needs to compete and differentiate itself from its competitors in order to achieve certain strategic objectives.
Objectives of Strategic Planning
The fundamental objective of a Strategic Plan is to design the path for companies to be more competitive and thus be able to surpass their competition, obtaining greater income and market share.
It is a guide that helps your top managers make more effective decisions and use their current resources more efficiently, to better meet customer needs than the competition.
The best of Strategic Marketing
Competitive Advantage, Value Chain, Competitive Strategies, Differentiation
Click here
The best of Strategic Marketing
Competitive Advantage, Value Chain, Competitive Strategies, Differentiation
Click here
The best of Strategic Marketing
Competitive Advantage, Value Chain, Competitive Strategies, Differentiation
Click here
What are the benefits and advantages of implementing a Strategic Plan?
The benefits and advantages of strategic planning are multiple, as it delves into all the elements that affect the competitiveness and success of companies, providing solutions in each case.
Among the most visible benefits and advantages are:
Greater effectiveness of marketing strategies.
Gain a strong strategic position within a customer group.
Differentiate your products and services from the competition, creating unique benefits.
Faster decision making, reacting sooner to changes in the environment.
Achieve or maintain lasting competitive advantages that keep them protected from attacks by competitors.
Identify the threats to avoid and the opportunities to take advantage of.
Effectively coordinate marketing list of south korea consumer email resources and activities to achieve objectives.
Improve the allocation of economic and human resources in each activity to be more efficient and effective.
Increase cohesion between departments and work teams.
Improve organizational culture and work environment, as well as employee commitment and motivation.
Cost reduction through process improvements, negotiation with suppliers and greater business efficiency.
Internal communication and teamwork are strengthened (less power struggles and resource struggles).
Logically, higher sales and profits.
Structure and elements of the Business Plan
A Strategic Plan generally has the following structure.
Executive Summary or Presentation.
Market Information Systems (MIS).
Definition of the Company's Mission and Vision.
Internal and Environmental Strategic Analysis of the company.
Preparation of Decision Matrices.
Establish the objectives to be achieved.
Development of Strategies and Competitive Advantages.
Action plan and monitoring.
It is up to each strategist to modify and adapt this structure according to their knowledge and experiences, adding new stages or dividing the current ones with the aim of being more specific and developing their strategies.
Below, we provide a brief description of the main elements that make up the structure of the Business Plan .
How to plan your company's strategy?
Learn the best marketing strategies and how to outperform your competition
ENTER HERE
1. Executive Summary or Presentation
This is a global summary of the content of the Strategic Plan. This summary sets out the main points that must be analysed (objectives and goals, strategies, products and services, resources, expected results, management indices).
This summary is essential when you need to obtain resources for an investment or raise financial resources through loans or new investors. It is usually the first thing you read, so its inclusion at the beginning of the Business Plan is very important.
It is written at the end of the entire analysis and should consist of a few pages or paragraphs. Its intention is to draw attention and inform about the content of the plan.