structure of a strategic plan
Information about developing a strategic plan and organizational structure, recruiting and training staff and volunteers, and providing technical assistance. All Rights Reserved. In addition to guiding your entire company, it also helps your employees make decisions that move them toward the company’s overall mission and goals. He adds that focusing on one KPI can hurt other areas of a company’s performance, so reaching a goal can be short-sided. Write in the present tense, avoid jargon, and be clear and concise. A strategic plan is only effective when the writing and thinking is clear, since the intent is to help an organization keep to its mission through programs and capacity, while also building stakeholder engagement. Who is collecting that data, and how will they do it? “If you choose to shortchange the process [and not talk about capacity and finances], you need to know what the consequences will be,” explains McNerney. What do you want to do more or less? “Your plan has to be aligned with your culture and your culture needs to be aligned with your plan if you’re going to be successful in implementing it.”. The Difference Between Mission and Vision Statements, How to Write Strategic Plan Goals and Objectives, How to Write about Capacity, Operations Plans, Marketing Plans, and Financial Plans, Writing Different Types of Strategic Plans, How to Write a Strategic Plan for a Nonprofit, How to Write a Strategic Plan for a School, How to Write a Departmental Strategic Plan, How to Write a Strategic Plan for a Project, Improve Strategic Planning with Real-Time Work Management in Smartsheet, Strategic Planning for Public and Nonprofit Organizations: A Guide to Strengthening and Sustaining Organizational Achievement, Focuses what your organization does today, Focuses on what you want your company to become, Should not change often since it is linked to company’s foundation. It merely illustrates the component parts common to such plans. Recruiting and Training Volunteers, Chapter 12. When writing your performance indicators, pay attention to the following: Define how often you need to report results. Information about developing a strategic plan and organizational structure, recruiting and training staff and volunteers, and providing technical assistance. In this strategic plan example, we review the structure of a strategic plan for a hotel chain and include elements of the plan itself.New England Hospitality Company, a fictitious company that owns and operates 37 hotels, is embarking on its first strategic plan and will be used for this strategic plan example. A marketing plan describes how you attract prospects and convert them into customers. There are simple strategic plans that include goals, objectives, strategies, and tactics, as well as complex plan structures that include multiple levels and layers. “[Facilitators] need to hold the conversations open long enough to get enough ideas out there to be able to make wise choices.”. Think of it as the 30,000-foot view of your plan, one you can fold up, put in your notebook, or stick on the wall to help your team remember why youâre doing what youâre doing. Share the company description with everyone in your organization. 15. And while this may sound obvious, do not ignore what your planning process tells you. Only the CEO has the force to drastically change the companyâs alignment. Look at the positive instead of what you will give up. While the specific terminology varies, basic sections of a strategic plan include the following in roughly this order: Some plans will contain all the above sections, but others will not — what you include depends on your organization’s structure and culture. He explains that he often begins planning projects with three questions: What would happen if you did what you want to do? If you don’t know what is going on around you, how can you stay competitive?” explains McNerney. Without it, the process cannot succeed. There are both internal and external values looking at your employees and coworkers, as well as customers and outside stakeholders. After you’ve finalized your plan, you’ll need a tool to help track and manage all the different aspects of your business or project, as well as keep you accountable and measure progress. The authors concluded that the structure influenced the strategic planning process, since most of the decisions are made by individuals comprising the senior management, just as it was influenced, in view of creating a department that is solely responsible for the strategic issues of the organization. But there is a fine line between being ambitious and creating a fantasy. Some goals might even be quarterly, monthly, or weekly. It should encourage and inspire employees while setting your company’s direction. Your research might show you should not go in a direction you might want to. A mission is important to an organization because it synthesizes and distills the overarching idea linking its practical strategies, enabling management and employees to align the specifics of their actions and decisions with a clearly defined vision and direction. Some should go out five to 10 years, others will be shorter — some significantly so. To achieve all the goals outlined in your strategic plan, you need the right people in place. Then there are finances. The vision should be clearly attainable if you follow the goals and objectives you outline later in your strategic planning plan. “It’s like drawing a map for your company. Each goal should reflect something you uncovered during the analysis phase of your strategic planning process. You should be able to defend your plan and reinforce its key areas. Take out jargon like world class, best possible, state of the art, maximize, succeed, and so on, and cut vague or unspecific phrasing. The areas above the red dotted line are the strategic parts of the plan. A tactic is a specific activity or project that achieves the strategy, which, in turn, helps achieve the objective. In this section, you’ll learn a lot about your company and the people who work with you. “It’s important for facilitators to lead by asking questions,” Bryson says. Use the goal example from earlier: Increase total revenue by 5 percent in three product areas by the third quarter of 2020. The company description should include the history of your company, the major products and services you provide, and any highlights and accomplishments, and it should accomplish the following: Highlight what makes your company unique. Your values should align with your vision statement and highlight your strengths while mitigating weaknesses. Include a section in your strategic plan where you talk about the capacity of your organization. after disasters and improving the Agencyâs execution of its fundamental mission of helping people. Developing an Organizational Structure for the Initiative, Chapter 10. You want to make sure the plans align. In addition to a SWOT analysis and other sections that go into any strategic plan, a nonprofit needs to keep an eye on changing factors, such as funding. See why Smartsheet is the platform you need to drive achievement, no matter the scale of your ambition. A business plan is usually done for different reasons, such as investment research, and covers general concepts about the company such as business model, sales model, financing required and others, however, a strategic plan reflects the Strategy and operations to achieve specific objectives. He always writes summaries last, after he has all the data and information he needs for the plan. Is it cost-effective to collect that data? A mission statement is your overall, lasting formulation of why your company exists and what it hopes to be. Some performance indicators can go into your strategic plan, but you might want to set other goals for your organization. The answers to these questions make up the meat of the planning document. A strategic plan needs a clear statement of your companyâs purpose, its reason for existing in the first place. Think of goal writing as a formula: Action + detail of the action + a measurable metric + a deadline = goal. If you hold a meeting, make sure you and other key planners are prepared to handle the feedback and discussion that will arise. Check out these templates to help you get started with a financial plan. The following are illustrative examples of a strategy plan. The mission statement explains what your business is trying to achieve. Strategic planning, also called strategy development or analysis and assessment, requires attention to detail and should be performed by someone who can follow through on next steps and regular updates. Goals should be precise and concise statements, not long narratives. Mission statements should not be vague or generic, and they should set your business apart from others. Because it functions as a review of the entire document, write the executive summary after you complete the rest of your strategic plan. 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