Finance Marketing Business

Decisions on the direction a group might be heading over the next twelve months and beyond are made at strategic planning sessions. The sessions not only cover the best way to use resources, but what are the endpoints, and how to know when goals have been achieved. It should be noted that these meetings have a scope of all resources in the company, while single business plans focus on individual projects.

There are a variety of perspectives, models and approaches used in strategic planning. The way that a strategic plan is developed depends on the nature of the organization’s leadership, culture of the organization, complexity of the organization’s environment, size of the organization, expertise of planners, etc. For example, there are a variety of strategic planning models, including goals-based, issues-based, organic, scenario (some would assert that scenario planning is more a technique than model), etc. Even small business marketing decision falls under the purview of planning.

The most common strategic planning is goals-based. It begins with a focus on the organization’s mission with steps, strategies and action planning to work towards said mission. Another type of strategic planning, Issues-based planning begins with exploring issues facing the organization and derives strategies and action plans to deal with the issues. Examining an organization’s vision & values, then adopting an action plan remaining true to those values is called Organic strategic planning.

Some planners prefer different ways to approach planning such as appreciative inquiry. Plans can be designed with time frames from one to ten years. Top-level information is included in some plans, and some contain no action plans. The length of the variety of plans ranges from five to eight pages, and others can be significantly longer.

A critical review of past performance by the owners and management of a business and the preparation of a plan beyond normal budgetary horizons require a certain attitude of mind and predisposition. As the precursor to developing a strategic plan, it is desirable to clearly identify the current status, objectives and strategies of an existing business or the latest thinking in respect of a new venture. Correctly defined, these can be used as the basis for a critical examination to probe existing or perceived Strengths, Weaknesses, Threats and Opportunities.

The ultimate goals of entrepreneurs and business managers can often be forgotten when they become engrossed with mundane issues. A near necessity to avoiding such a trap is a business review or preparation of a strategic plan. While not a guarantee of success, it will greatly increase the odds against failing.

It begins with a focus on the organization’s mission with steps, strategies and action planning to work towards said mission. Issues-based, planning begins with exploring issues facing the organization and derives strategies and action plans to deal with the issues. Examining an organization’s vision & values, then adopting an action plan remaining true to those values is called Organic strategic planning or small business marketing. Some planners prefer different ways to approach planning such as appreciative inquiry. Plans can be designed with time frames from one to ten years.

- Jose DeJesus

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