No one can predict the future. But rather than sit back and wait for it to happen, effective CEOs anticipate what lies ahead. The orderly process needed to meet the challenges that inevitably follow is called strategic planning.
What makes a good strategic plan?
A good strategic plan:
- reflects the values of the organisation
- inspires change and modification in products or target markets
- clearly defines threshold criteria for achieving success.
No one strategic model fits all organisations, but the planning process includes certain basic elements that all businesses can use. In this article we explore the vision, tactics and objectives of effective strategic plans and outline a set of underlying principles and management tools that will help you to create a truly valuable strategic plan.