What is Strategic Planning?

WHAT IS STRATEGIC PLANNING? Strategic planning is the path we take from why we exist (mission) to what we want to become (vision). VISION Of 26,000 START-UP FAILURES BUSINESSES USING STRATEGIC PLANNING ARE MISSION 12% 67% MORE PROFITABLE had no strategic plan Less than 0 ercen of strategic plans are effectively executed. MISSION Goals are a translation of the GOALS vision as it applies to each theme. Themes are a nice way for companies to organize their goals under broader labels. GOALS VISION Goals answer the question: WHAT DO WE WANT Satisfaction Fianance Safety Anything "big picture" is likely a theme Example: Be the dominant provider in your market. OBJECTIVES STRATEGIES Objectives are quantifiable metrics that show the progress toward our stated goals. 71% Strategies are the actions plans that, when implemented, will achieve the objectives. CUSTOMER SATISTFACTION TIP: Use the words... increase decrease ..to ensure your objective is quantifiable. TACTICS "Vision without execution is hallucination" -Thomas Edison Tactics are the day-to-day and week-to-week actions we take to implement our strategies, meet our objectives, and accomplish our goals. VISION Achieve!t