Strategic planning skills

Definitionally, strategic planning is a "process used by organizations to identify their goals, the strategies necessary to accomplish those goals and the internal performance management system used to monitor and evaluate progress."^[1]

Strategic planning skills are part of a high-leverage organizational strategy that is used in both small and large companies and across nearly all business/professional sectors.^[2]

Definitionally, strategic planning is:

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Strategic planning is a process used by organizations to identify their goals, the strategies necessary to accomplish those goals and the internal performance management system used to monitor and evaluate progress. Most organizations use a SWOT analysis or gap analysis to identify the underlying factors driving their current performance. This, in turn, provides information regarding the most high-leverage strategies to create change.

Companies looking to optimize their performance and growth rely on a strategic planner, meaning a person who is dedicated solely to carefully planning the actions a company needs to take to reach their full potential.

The strategic planning process culminates in the development of a strategic plan document that serves as the organization’s collective roadmap. While each organization is unique, the essential elements of a strategic plan include:

- Clear mission and vision statements to frame the context of the document

- Clear timelines for strategy implementation and progress monitoring

- Quarterly benchmarks or objectives that will inform progress towards annual goals

- Identification of the data sources used to track progress

- Indication of the individuals and/or offices responsible for each strategy

An effective strategic planning process is required for all organizational processes, from human resource policy implementation to financial growth goals. Whatever the goal, you can create a performance improvement plan to streamline the processes you undertake to further your company’s growth.^[3]

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Soon after a strategic plan is formulated, an organization should:

1. Allocate organization resources in alignment with the strategic plan.

2. Develop cascading goals. Cascading goals are structured in a way so that businesses align goals from the highest level of the company all the way down to individual employees so they are in harmony. See: Cascading goals

3. Build a performance management infrastructure.^[4]

4. Streamline and organize business processes with a strategic planning template designed the organization's industry/business/organizational sector. See: Strategic planning template