10 Steps to Successful Strategic Planning

10 Steps to Successful Strategic Planning

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Barksdale, Susan | Lund, Teri ASTD Press, 2006 Audio summary available
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IN THIS SUMMARY

One practice that often sets successful businesses apart from the rest is strategic planning. These organizations benefit not just from having a strategic plan, but from undergoing the strategic planning process itself. In 10 Steps to Successful Strategic Planning, Susan Barksdale and Teri Lund detail how the planning process unites organizational leadership and enhances communication of critical information. Today's marketplace demands that employees, work groups, and organizations have a clear understanding of their roles, the products and services that they offer, as well as the processes that they use to create and market those products and services. A strategic plan is crucial for predicting the marketplace and determining how to react to the future. Strategic planning provides opportunities for organizations to methodically analyze past performances, prioritize performance needs, and set organizational goals. Following a strategic plan helps company leaders to ensure that products and services delivered to customers are consistent and of high quality, to promote better use of resources, and to resolve internal performance problems by clarifying expectations and standardizing performance. The strategic planning process is the time when organizations set priorities for the upcoming two to five years and identify how major resources will be allocated. The resulting plan works hand-in-hand with a company's business plan. The strategic plan drives the business plan, and the business plan drives the management functions of the organization by outlining how marketing, finance, human resources, and other areas will achieve the outcomes identified in the strategic plan. The process begins by defining the scope of the strategic plan. This requires answering important questions establishing the plan's goals and objective, and these answers in turn affect the timetable and tactics of the plan.