structure of a strategic plan

The parts of your plan that layout your roadmap are listed below: Strategic objectives: Strategic objectives are long-term, continuous strategic areas that help you connect your mission to your vision. When writing your performance indicators, pay attention to the following: Define how often you need to report results. Your first step is to identify themes, which are sometimes similar to perspectives.These themes are buckets or categories that define the overall structure of your strategic plan. “It’s like drawing a map for your company. Objectives: Objectives support goals, and they’re usually quantitative and measurable. The strategic planning process will differ based on your organization, but the basic concepts will stay the same. iBossWell, Inc.’s McNerney reiterates that there are not hard and fast definitions for the terms goals and objectives, as well as many other strategic planning concepts. You can choose from many templates to help you write this section. It also involves laying out—step-by-step—how you’re going to get there. In this section, you’ll learn a lot about your company and the people who work with you. For a nonprofit, the strategic plan’s purpose is mainly how to best advance the mission. For example, a substance abuse prevention coalition is trying to keep teens from starting to drink or use drugs, and proving the coalition’s methods work is often difficult to quantify. Every action your company does contributes to its vision. In a for-profit organization, the marketing department works to promote the company’s product or services to bring in new revenue. Size: 47 KB. What some people call an objective, others would call a KPI.” They key, she explains, is to decide what the terms mean in your organization, explain the definitions to key stakeholders, and stick to those definitions. A One-Page Plan is just that – a single page overview of your plan, priorities, and direction. Outlines the goals, priorities, and strategies to meet the mission. In this section, also include your SWOT (strengths, weaknesses, opportunities, and threats) analysis. For example, if your goal is to achieve success as a strategic planner, your objective would be to write all sections of the strategic plan in one month. Over 78,000 brands and millions of information workers trust Smartsheet to help them accelerate business execution and address the volume and velocity of today's collaborative work. 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. “The values are the core of how you operate [and] how you treat your people, both internally and externally. Some should go out five to 10 years, others will be shorter — some significantly so. The first stage prepares you for the rest of the strategic planning … You hear the terms goals and objectives a lot, but they mean different things to different people. If you distribute it outside of your company, you might want to attach a confidentiality waiver. The development and execution of strategic plans is a well-thought-out plan performed in three critical steps: Every company is unique. And while this may sound obvious, do not ignore what your planning process tells you. STRATEGIC BUSINESS PLAN: Human Resources 2 of 16 Goal HRS.1 - Improve Human Resources (HR) service delivery Objective HRS.1.1 - Ensure Human Resources is staffed and structured appropriately to Strategic planning is a fundamental component of organizational management and decision making in public, private, and nonprofit organizations. Strategic Planning in Smaller Nonprofit. You can also create a strategic plan to help guide both your professional and personal life. The CEO naturally assumes a prominent role on the planning team, setting the vision, driving that vision, and enforcing results. “If you do not consider the additional costs or revenues your plan is going to drive, you may be creating a plan you cannot implement.”. Say what you do, who you do it for, and why it is valuable. Write in the present tense, avoid jargon, and be clear and concise. While many organizations have both mission and vision statements, it’s not imperative. “[If you don’t do a thorough industry analysis], you’re doing your planning with your head in the sand. Learn about our premium resource and portfolio management platform, 10,000ft by Smartsheet. “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. You don’t need to include the entire marketing plan in your strategic plan, but you might want to include a summary. A strategy plan, more commonly known as a strategic plan, is a list of strategic goals together with an action plan to achieve each goal. A nonprofit has to make the community care about its cause. “These are the people you want to keep because they are invested,” he says. © 1994-2020 The University of Kansas. A strategic plan needs a clear statement of your company’s purpose, its reason for existing in the first place. You need to find the balance between the process and the final product. Once you know what is important to you, come up with a personal mission statement that reflects the values you cherish. Creating a strategic plan isn’t only for businesses. The mission provides items to act upon, and the vision offers goals to aspire to. 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. It merely illustrates the component parts common to such plans. But be careful to not create too many goals. Strategic planning starts with defining a company mission. This is your chance to define the way your company will make decisions based on goals, culture, and ethics. This helps transform your goals and objectives into a reality. Download Nonprofit Strategic Plan Template. Think of the acronym SMART when writing objectives: Make them specific, measurable, achievable, realistic/relevant, and time-bound. Holistic objectives encompass four areas: financial, customer, operational, and people. The following are illustrative examples of a strategy plan. 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. As it does within a business, this statement will help guide you in making future decisions. “I want to keep it simple, so organizations can be successful in achieving [the strategic plan],” McNerney explains. She uses a basic diagram that she calls the strategic plan architecture. In many cases, the sections of a strategic plan build on each other, so you may have to write them in order. For example, if a vision statement is “No child goes to bed hungry,” the accompanying mission would be to provide food banks within the city limits. What do you want to do more or less? Mission statements are about the present, and vision statements are about the future. Highlight the plan in a company newsletter. More than one objective can support one goal. This could include management, the board of directors, owners, and more. One way to gauge a facilitator’s experience is by asking how they conduct conversations. Describe how you will communicate the plan to key stakeholders. “Early on in the process, you need to talk about what you are doing and why and how you are doing it. As mentioned, strategic planning is a process and involves a team. Many organizations do not give themselves enough time to plan properly, and once you finish planning, writing the document or presentation also takes time, as does implementation. Key performance indicators (KPIs) can show you how your business is progressing. The answers to this question help you identify your goals for the future of the business and assess whether your current trajectory is the future you want. Goals form the basis of your strategic plan. Do your best to keep it from your competitors. Goals should be precise and concise statements, not long narratives. Business architecture is important, which Stockmal says is “building the capabilities the organization needs to fulfill its strategy.” He adds that nothing happens if there is no budget workers to do the work necessary to drive change. Using these terms, strategies describe an approach or method you will use to achieve an objective. If you need assistance writing a comprehensive implementation plan for your organization, this article can guide you through the process. The key to writing a strong executive summary is being clear and concise. Communicating your strategic plan. 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. “One of the most important elements when you’re starting the strategic planning process is to get some clarity on the nomenclature. Even with the differences, the same planning process and structure should be in place for schools as it is for other types of organizations. Use specific and easy-to-understand language. The mission statement explains what your business is trying to achieve. from recruitment strategic plans up to non-profit strategic plan examples, must be created in an organized manner. Focus on the ones that allow you to zero in on what is critical for your company’s success. It is important to be honest with yourself. A SWOT analysis on yourself will give you some honest feedback if you let it. Illustrative example of a strategic marketing plan. “Some organizations just have one.”, If you choose to have only one statement, McNerney offers some advice: “Any statement you have, if you have just one, needs to include what [you do], how [you do it], why [you do it], and who you do it for.”, During the planning process, these key statements might change. Mission statements should not be vague or generic, and they should set your business apart from others. He explains that he often begins planning projects with three questions: What would happen if you did what you want to do? Your goals are where you want to go. Objectives often begin with the words increase or decrease because they are quantifiable and measurable. Your team should be able to easily understand and repeat the company’s vision statement. Below the red dotted line are the implementation pieces. The more that people feel they play an important part in the organization’s success, they more successful you will be in reaching your goals of your strategic plan. As for the evaluation portion, identify how you will keep yourself accountable and on track. Strategic planning is the process of documenting and establishing a direction of your small business—by assessing both where you are and where you’re going. Be careful with the information you gather. He adds that focusing on one KPI can hurt other areas of a company’s performance, so reaching a goal can be short-sided. You’ve likely heard of famous strategic models such as OKRs. The operations plan maps out your initiatives and shows you who is going to do what, when, and how. Instead, strategic planning experts use many names for the different sections of a strategic plan. A strategic plan is a dynamic document or presentation that details your company’s present situation, outlines your future plans, and shows you how the company can get there. Performance indicators are not always financial, but they must be quantifiable. Discover why over 78,000 brands trust Smartsheet to get work done. The planning process takes time. In some cases, yearly planning might keep you continually stuck in the planning process, while 10 years might be too far out. One of the best tools we use to help communicate an organization’s strategic direction and long-term focus is a One-Page Plan. It should be relatively easy to write. Strategic plans are not static documents — they change as new circumstances arise, both internally and externally. — addresses the foundation of your organization, and it can serve as an outline for the following sections of your strategic plan: Identification of competing organizations, Industry analysis (this can include a SWOT or PEST analysis). 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