Strategic planning

Introduction

Growing a business means taking many decisions about the way you want to expand your operations. Creating a strategic plan is a key component of planning for growth. It will help prepare a realistic vision for the future of your business and in doing so can maximise your potential for growth.

A strategic plan should not be confused with a business plan. A business plan is about setting short or mid-term goals and defining the steps necessary to achieve them. A strategic plan is typically focused on mid to long-term goals and explains the basic strategies for achieving them.

This guide sets out the basics of the strategic planning process. It explains how to go about drawing up a strategic plan, it highlights some important issues to bear in mind and it shows how to turn from planning to implementation.

Subjects covered in this guide

• Introduction
• The purpose of strategic planning
• The three key elements of strategic planning
• Getting started with strategic planning
• Build your plan on solid strategic analysis
• What a written strategic plan should include
• Strategic planning and the business owner
• Implementing a strategic plan

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