Plan ahead: It wasn’t raining when Noah built the ark.
Strategic planning is one of the least-loved organization processes. Executives criticize it as overly bureaucratic, insufficiently insightful, and ill suited for today’s rapidly changing markets.
However, when technological progress is blurring industry boundaries and new competitors are emerging from adjacent markets, it is more important than ever to be prepared strategically and to have a sound plan and a system to implement it.
A successful Strategic Planning process should contain some of the following actions:
Strategic planning is an ongoing commitment. Even though your plan has been completed, it still must be implemented. Your plan also needs to be flexible.
While it’s necessary to have goals and objectives, you also have to be able to adapt to changes.
Other important actions to consider:
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