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The strategic planning process

Strategic planning involves a systematic process of development.

There are six stages to developing a strategic plan:

  1. Assessing the external environment: Analysis of the political, economic, social, technological, legal and environmental factors that can have an impact on the organisation’s performance.

  2. Assessing the internal environment: Analysis of the internal aspects of businesses, including resources and capabilities, company strategies, and operational actions.

  3. Developing a new vision or mission for the future: Vision is all about where the organisation wants to go: it describes the desired future position of the organisation. Mission is about why the organisation exists: It defines its business, its objectives and how it is planning to reach those objectives. To develop a new strategy, the organisation will need to redefine what it wants its vision and mission to be. As an organisation’s internal and external environments change, its vision and mission statements may, over time, need revising.

  4. Developing new goals and objectives to reach that future: Goals and objectives play a key part in strategic planning as they drive the advancement of the products and services an organisation offers.

  5. Implementing the plan: Once you have agreed on your new strategy, you need to implement your new plan. This starts with communicating your new strategy to ensure effective contribution from all stakeholders.

  6. Measuring progress and revising the plan: The final stage of strategic planning involves assessing the results and revisiting various stages as appropriate.

The strategic planning process is cyclical, meaning the organisation revisits the plan after a certain set period or when a change in circumstances necessitates. During the planning or implementation processes, managers may revisit earlier steps where necessary.

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This article is from the free online course:

Organisational Behaviour in Construction: An Introduction

Coventry University