Join Mike Figliuolo for an in-depth discussion in this video Understanding the principles of strategic planning, part of Strategic Planning Fundamentals.
- What is a Strategic Plan and why is it important?…A Strategic Plan defines what your organization stands for.…It defines the market where you compete…and how you compete in that market.…It's the definition of the goals you're going to pursue,…and more importantly the initiatives…you're going to pursue to achieve those goals.…It's also going to help you allocate…your very limited resources…to pursue those initiatives and reach those goals.…
Why is a Strategic Plan so important?…First, it provides focus for you efforts…and your limited investments.…It gives your team something to rally around…and be excited about.…And lastly, it helps you identify the risks…and opportunities you're going to face in the market,…and then plan for those risks…or exploit those opportunities.…There are three principles of strategic planning…that you should follow.…First, set a clear direction and stay in your lane,…versus meandering and pursuing strategies…that change every year.…
Second, say "no" to distractions.…It's very easy to get caught up in the…
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- Avoiding strategic planning risks
- Assessing the market
- Conducting a SWOT analysis
- Defining your direction, mission, and vision
- Determining core competencies
- Evaluating and prioritizing opportunities
- Assessing your initiatives
- Organizing for success
Skill Level Appropriate for all
1. Before You Begin Planning
2. Defining the Strategic Environment
3. Setting Your Strategic Direction
4. Determining How You'll Compete
5. Evaluating and Prioritizing Opportunities
6. Assessing Your Initiative Portfolio
Using a 2x2 matrix2m 56s
7. Organizing for Success
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