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Printable Strategic Plan
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What Is a Strategic Plan?
A strategic plan is a plan that charts an organization or company’s direction. It is a plan that is designed to accomplish or implement objectives. Depending on the organization’s need, it can either be a broad, all-encompassing plan or a specific and targeted plan.
According to a 2020 article published by Harvard Business School, around 90% of businesses fail to meet their strategic targets. It is important to understand that strategic planning is not an event or a one-time task, it is an evolving and ongoing process. According to studies, 93% of those who successfully implemented their strategies incorporated changes or diverted from their original plans.
Tips In Crafting a Strategic Plan
There can be various ways of creating a strategic plan. Different companies employ different strategies to accomplish their internal organizational goals. The following examples below are some practical tips on creating an effective and dynamic strategic plan.
Elements of a Strategic Plan
The content of your strategic plan may highly depend on the needs and preferences of your organization. There can be several components in a strategic plan. However, there are a few foundational elements that ought to be present in a basic strategic plan.
How to Create a Strategic Plan
To create a strategic plan, you need to invest the time and energy to create one. Whatever your needs- whether you are an individual planning your next career move or a startup mapping out the next 3 years- an effective strategic plan requires enough structure for it to work. Follow the step-by-step tutorial below and be guided accordingly.
Step 1: Goals
The first step in crafting a strategic plan is establishing your goals. Setting expectations and objectives can help you decide on the direction to take. Whether it is a public school strategic plan for an academic year, or a nonprofit strategic plan for communications and sponsorship, setting realistic and attainable goals is key. It does not have to be long, drawn out goals. Keep it simple with bullet points or short paragraphs. A couple of objectives should suffice. You want to avoid spreading yourself too thin, it is best to be focused on a few major objectives and simply adjust as you go along.
Step 2: Key Performance Indicators
Once you have covered your strategic goals, you need to be able to come up with the appropriate measurements of success or progress. Many corporate environments use key performance indicators or KPIs to measure an employee or team’s performance and chart their professional growth. These are needed to objectify and quantify productivity and accomplishment. KPIs help individuals and teams plot their deliverables and targets and also allow them to plan and strategize better.
Step 3: Action Items
After establishing your key performance indicators, you can then proceed to enumerating the different proposed action items and strategies. Essentially, you must describe how you plan to address the KPIs you listed. Action items ought to be a product of your analysis or study. It must be based on sound research. How you present your action items will also depend on you. Some people use tables and charts to organize their strategies. The format must meet the requirements of your action items. For example, if you have multiple objectives or KPIs, creating a table might be a good idea to better organize your information.
Step 4: Progress Tracker
Strategic plans are rarely one-time meetings. Although they can take a few days or sessions to complete, these types of plans are constantly evolving and adapting to new circumstances and developments. Therefore, it would be best to integrate a progress monitoring tool that will help you chart the growth of your strategic action plans. Keeping track of progress is not only important for documentation, it also serves as an important reference point for improvement plans and modifications.
FAQs
How do you write a strategic plan?
To write a strategic plan, you need to first have a good grasp of your objectives, vision and mission. Aside from establishing goals and setting the direction, you also need to prepare concrete action items and their corresponding rubric or key performance indicators.
What is a strategic planning template?
A strategic planning template is a ready-made template that is designed to help anyone who uses it accomplish his or her job faster. It is especially useful for those who would prefer not to start from scratch. A strategic plan can have several components; and with an existing template, you would be saving a lot of time and energy.
What are the 5 essential components of strategic planning?
According to Cascade, the five key elements of strategic planning are vision, values, outcomes, accountability and KPIs.
If done correctly, a strategic plan can be a very helpful tool in setting the direction of your team or organization. It can be a useful guide in accomplishing collective goals and improving performance. Browse the printable strategic plans above now to get started on yours today!