Strategic planning process: Overview

- Strategic planning is an inherently simple process. … There are some major tools and steps … that you're going to follow … as you pull together your strategic plan. … First, you need to set direction and stay in a lane. … That begins with articulating the vision, the mission … and the goals of the organization. … Once you've set that destination, … it's important to define … the organization's core competencies. … What are you great at? … And how are you going to compete in the market? … The next step of the process is defining strategic filters. … This is the heart of the method. … These filters are going to be … the objective functions you're trying to achieve. … They'll be the evaluation criteria you'll use … as you analyze the initiatives that you are … or are not going to pursue. … Next, you're going to say no to distractions. … You're going to stay focused. … You'll use tools like a two by two matrix … to evaluate which opportunities should we pursue? … And which ones should we avoid? …