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Strategic planning

Strategic planning is a blueprint giving directions to an organisation as to its scope and direction over a stated period of time.

It is a well-organised and clearly defined set of activities which helps a business to organise its present operations based on the projections of the future. The process also helps build agreement and commitments among its key stakeholders.

An effective strategic plan should produce decisions and then actions that shape the organisation, examine and reflect an organisation’s values, its status, its internal and external environment, its overall vision and mission and ultimately define how resources will be used for the given actions and timelines.

The plan guides an organisation with its decision-making. It reduces uncertainty about the organisation’s future by allowing it to be more proactive in the now, enabling organisations to utilise opportunities and take necessary and timely actions to reduce any effects from potential threats. It can also be used as a shared agreement with other parties on how to handle future planning about change.

A strategic plan aims to:

  • Facilitate an organisation to achieve specific goals and objectives
  • Help an organisation to capitalise on its strengths while minimising its weaknesses; take advantage of opportunities and defend against threats
  • Stimulate future-oriented thinking based on a shared sense of mission
  • Increase efficiency by accommodating collaboration between members of an organisation to work towards a common goal
  • Allow the organisation to think about choices imposed by limited finance
  • Evaluate its achievability of specific goals

Your task

To write a strategic plan which will allows the organisation’s business to grow, the organisation needs to ask itself, at the outset, a series of questions.

Draft out four short and pithy questions which will be used in the production of the organisational strategic plan.

Share your four questions with your fellow learners and comment on at least one post.

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This article is from the free online course:

Business Strategy: The Art of Looking into the Future

Coventry University